Namibia: Tug of War Over N$95m

THE board of the new state-owned Namibia Industrial Development Agency (Nida) wants the soon-to-be-closed Offshore Development Company (ODC) and the Namibia Development Corporation (NDC) to transfer millions of dollars to them.

People familiar with the matter told The Namibian that the ODC had N$95 million in their bank account in the 2017/18 financial year. It was not immediately clear, however, how much the NDC has.

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