Money reallocated for youth development, ministry says
A finance official is accused of secretly adding N$10 million to the budget of the Namibia Investment Promotion and Development Board (NIPDB).
The funds have, however, now been redirected to youth development projects, the Ministry of Finance says.
The allocation was allegedly made by a senior ministry official without the knowledge or approval of minister of finance Ericah Shafudah, who discovered the discrepancy after reviewing her budget presentation.
Ministry of finance spokesperson Wilson Shikoto this week confirmed the incident, saying: “The ministry has reallocated the N$10 million to youth-related projects. Everything regarding the matter has been resolved.”
Shikoto, however, declined to reveal information on potential disciplinary action or the identity of the official involved.
Sources say Shafudah was upset after discovering an amount of N$10 million was added to the budget at the last minute.
“The minister was very upset . . . We are not sure if this individual was instructed by the NIPDB to do that, but it is very disappointing,” a source says.
The discovery has prompted an internal investigation.
NIPDB spokesperson Catherine Shipushu says the board is not aware of the accusation.
“The budget is for the Ministry of Finance. We are not aware of the accusations. This seems to be an internal matter in the ministry and we were not involved in whatever transpired,” she says.
The Institute for Public Policy Research in a budget analysis by Robin Sherbourne in April said the national budget speech made no specific mention of the NIPDB.
“… which has been in institutional limbo for some time and was created as a Section 21 company in the Office of the President,” he said.
Shafudah tabled a N$106.3 billion budget for the 2025/26 financial year in March.
“The vote of the Office of the President continues to include main division 05: trade and investment board, which … rise by 11% from N$135.137 million in financial year 2024/25 to N$150.137 million in 2025/26,” Sherbourne said.
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