Govt assets at almost N$70 billion so far

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The federal government’s belongings are valued at virtually N$70 billion thus far, with the total quantity but to be decided.

The federal government has struggled since independence to know the total worth of its belongings.

The ministries of finance and works and transport have been blasted by auditor common Junias Kandjeke for the dearth of a register.

Finance spokesperson Wilson Shikoto instructed The Namibian on Friday they’ve been in a position to set up virtually N$70 billion value of belongings thus far, however are nonetheless counting.

“As of February 2023, the digital information point out a complete estimated valuation of movable belongings at N$20 billion, whereas immovable belongings are at N$47,41 billion,” Shikoto stated.

These figures solely account for that of all Workplace of the Managing Brokers (OMAs), which has enter knowledge about authorities belongings.

“To facilitate this endeavour, the federal government has launched an Digital Asset Register as a part of the Built-in Monetary Administration System,” he stated.

At the moment, the 2 ministries try to have full protection of your entire inventory of the federal government’s immovable belongings.

“This enterprise entails conducting bodily verifications of presidency fastened belongings, documenting related data, capturing International Positioning System (GPS) coordinates of the buildings and updating the fastened asset register,” Wilson stated.

In the meantime, Kandjeke’s 2022 report on the federal government’s funds crimson flagged the dearth of an asset register.

“The federal government of Namibia doesn’t have a registered asset register the place all fastened property and autos are recorded, thus it might be troublesome to find out the quantity and worth of presidency autos and immovable property,” famous the audit report.

Kandjeke suggested the finance ministry to make sure that there’s an asset register for all authorities autos and immovable property.

“Finance agreed that the federal government doesn’t have an entire file of its fastened belongings. In consequence, the Ministry of Works and Transport and the Ministry of Finance and Public Enterprises have launched into an asset verification venture and have assigned a devoted crew to go to all of the areas with a view to conduct the identification, verification and registration of all authorities fastened belongings throughout the nation,” the finance ministry responded to Kandjeke.

The ministry additionally instructed the auditor common that it and the Ministry of Works and Transport would conduct a joint train to capacitate customers of the asset registers in OMAs and knowledge for immovable belongings shall be uploaded within the digital asset register.

In an replace, works and transport minister John Mutorwa in March instructed the Nationwide Meeting the method of verification of fastened belongings for the aim of finalisation of the asset register commenced towards the top of 2020 and is ongoing.

“To date, three areas – Hardap, Oshana and Khomas have been efficiently lined.

“The method is, nevertheless, shifting slowly and the ministry has taken a unique method, whereby a crew is at present busy conducting consultations with all regional councils and are anticipated to finalise the method by April 2023,” Mutorwa stated.

He was motivating his ministry’s price range.

Economist Omu Kakujaha-Matundu stated the dearth of a register factors to the present authorities being unaccountable and never a very good custodian of individuals’s belongings and sources.

“That is positively the worst type of dereliction of accountability and accountability. In a rustic the place corruption is rife, one will surprise what number of public properties haven’t been hijacked since independence.”

Kakujaha-Matundu stated it’s the accountability of the Ministry of Works and Transport to account to the individuals by means of parliament.

“Thoughts you, a few of these redundant belongings may be bought to help fiscus with a lot wanted income. Now, how can the federal government try this in the event that they don’t have an updated asset register?”

The submit Govt belongings at virtually N$70 billion thus far appeared first on The Namibian.

Supply: namibian

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