QUESTIONS have arisen about whether there are any benefits for the Namibia Public Workers Union (Napwu) in having its general secretary, Petrus Nevonga, on the board of FNB Namibia Holdings.
Members of unions affiliated to the National Union of Namibian Workers (NUNW) have been complaining that the unions do not benefit anything from Nevonga’s representation on the FNB Holdings board. This position is by virtue of his trusteeship on the Government Institutions Pension Fund (GIPF), which is a substantial shareholder in FNB Holdings.
Nevonga was nominated to the FNB board in 2003 by the GIPF, shortly after he became the General Secretary of Napwu.
But FNB Holdings said NUNW is not a listed shareholder in the company and that Nevonga was nominated by GIPF and not NUNW.
During his tenure on the FNB Holdings board, Nevonga had accrued share options to himself.
Dawn Humphries, manager corporate communications at FNB Namibia told The Namibian that “Nevonga holds 38 026 [shares] representing 0,014 per cent of total shares. These shares were acquired privately and through the FNB Black Employees and Non-executive directors share trust, a BEE scheme that was created as part of FNB’s empowerment scheme for previously disadvantaged”.
Unhappiness in union circles about their representative lining his pockets while representing them come in the wake of him lobbying Secretary to Cabinet Frans Kapofi to take action against two public servants, who had been vocal about missing GIPF millions.
Nevonga reported Djaupyu Siteketa and Adeline Black for apparently conducting meetings during working hours on Government premises without permission to garner support on the Government Institutions Pension Fund (GIPF) issue, on which civil servants have demanded action.
Nevonga had written a letter to Kapofi on January 21 in which he complained that the two civil servants were “causing confusion” within the public service.
He argued that Napwu and the National Teachers Union (Nantu) were the only recognised unions with bargaining power.
In response, on February 8 Kapofi wrote a letter to the Ministry of Health and Social Services, and the Ministry of Regional and Local Government to investigate the two public servants.
Between 2003 and 2010, Nevonga received a total of N$341 000 in board sitting fees at FNB Namibia Holdings, it transpired from the FNB annual reports.
Asked why the share options are not given to the interests Nevonga represents, Humphries said FNB’s share scheme is progressive and “makes shares available across a wide spectrum of previously disadvantaged individuals and groups, including previously disadvantaged FNB staff and directors”.
Nevonga recently recused himself from the GIPF board until such time that the abuse of investment funds were resolved.
He is also a board member of the Namibian Grape Company (Pty) Ltd, Effort Investments Holdings (Pty) Ltd, and Endombo Enterprises (Pty) Ltd.