How Audrin Mathe and the Swapo comrades bankrupted New Era

New Era Publication Corporation is insolvent and faces looming bankruptcy as a result of the increase in executive salaries and perks, as well as apparent financial mismanagement at the state-owned company, the Anti-Corruption Commission has warned.

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New Era managing editor Toivo Ndjebela (2nd from left), HR chief Olivia Uushona, former CEO Audrin Mathe, finance chief Beatus Amadhila (5th from left) flanked by other NEPC executives. Photo: New Era
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Extract from the AG’s audit report on NEPC 2017 financial statement.

By March 2017 NEPC’s liabilities exceeded its assets by over N$21 million.

The AG identified a number of problems:

The ACC takes an interest

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Extract from Paulus Noa’s letter to the NEPC board, dated 5 December 2018.
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‘Fraud not ruled out’

PG declines to prosecute Mathe

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Executive pay and perks

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