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Amadhila speaks out

Amadhila speaks out

Maria David

 

IN an exclusive interview with Informanté at Outapi, Onesmus “Tona” Amadhila opened up about the barrage of criticism directed at him and his wife, Prime Minister Saara Kuugongelwa-Amadhila with regards to several multi-million-dollar loans from the Development Bank of Namibia (DBN).

 

Amadhila has refuted claims that he is failing to honour payments due to the DBN and that he received special favours in the form of the loan because of his marriage to the country’s Prime Minister.

 

He said that since receiving the loan, he the funds strictly for business purposes and not for the construction of his private residence as alleged by some.

 

“No one has done me any favours to obtain these loans. I condemn the malicious suggestion that DBN has favoured me because the Bank allegedly reported to my wife,” he said.

 

 

He noted that all of the loans were obtained in a transparent manner and in line with the requirements of the bank, including all the collateral requirements as requested.

 

“I have provided collateral amounting to an amount of N$146 million,” he said.

 

Between March 2014 and March 2016, Amadhila obtained a loan of N$100 million from the development bank to fund the construction of the Outapi Shopping Mall. The loan was advanced in four parts during the construction period which took approximately two years.

 

In October 2014, he obtained another N$4 million loan for a different construction tender which he secured.

 

In October 2017, he received another N$40 million loan from the development bank to set up a manufacturing business of which he is now a co-owner.

 

“At all times, and specifically after the initial funding by the bank, when securing the subsequent loans, my existing loan account and further subsequent loan accounts remained in good standing with the bank,” he said.

 

“I have continued to consistently make monthly repayments on these loans and have to date, repaid an amount of N$49.1 million from my personal and business accounts,” he added.

 

Amadhila said that despite the economic downturn, he continued to service the loans on revised terms that have reportedly helped his businesses to strive towards meeting their contractual obligations towards the DBN.

 

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