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Hatuikulipi resigns with immediate effect

Hatuikulipi resigns with immediate effect

Staff Reporter

JAMES Hatuikulipi, has resigned from his position as Managing Director of Investec Asset Management in Namibia with immediate effect and Ricardo Gustavo has been suspended pending the outcome of an ongoing independent investigation.


Both men have been implicated in the fisheries corruption scandal that erupted earlier this week.


According to a statement issued by Gwynneth Rukoro on behalf of Investec Asset Management the company is aware of media reports concerning two of its employees who are alleged to have been involved in impropriety in relation to fishing quotas in Namibia.


“Although the alleged activities were conducted in their private capacity Investec Asset Management takes allegations of this nature very seriously. Our internal investigation into the matter is ongoing and we remain open to cooperation with the authorities.”

Pictured: James Hatuikulipi, MD of Investec Asset Management in Namibia has resigned from the position with immediate effect. – Photo: Contributed

Rukoro’s statement confirmed that Hatuikulipi has resigned with immediate effect and due to the seriousness nature of the allegations Ricardo Gustavo has been suspended until the independent investigation is completed.


Rukoro said earlier that Investec is awaiting formal communication on the issue from the relevant Namibian authorities and added that the company is ready to cooperate whenever the call comes.


The Investec Namibia Managing Director is related to the former minister of Fisheries and Marine Resources Bernhard Esau’s son-in-law, Fitty Tamson Hatuikulipi.


The two Hatuikulipis and the former Minister of Justice, Sacky Shanghala are alleged to have received at least N$150 million in facilitation fees from Samherji.


James Hatuikulipi is also serves on the board of Fishcor, the state owned fishing company.

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