Namibia’s Public Enterprises (PEs) are falling behind in submitting their audit reports within the legally required deadlines.
Minister of Finance and Public Enterprises Ipumbu Shiimi disclosed that some entities are lagging behind by over five years.
His remarks were made during the Namibia Revenue Agency’s (NamRA) 2023/2024 annual report handover ceremony, where he acknowledged the crucial role timely reporting plays in fostering transparency and accountability in public institutions.
“Many institutions in Namibia are struggling to produce their annual reports on time, with some having not submitted reports for five or even ten years. However, NamRA is not among those institutions; it must maintain its status as one of the best in class. What you have demonstrated today shows that NamRA is indeed excelling,” he said
He emphasised the significance of audited financial statements, both for internal and external accountability.
“First, it’s about knowing how you’re driving the institution in terms of financial performance. But it’s also essential for accountability both to yourself and others, with audited financial statements, we have assurance that the way public resources are accounted for is reasonable and aligns with NamRA’s mandate,” Shiimi noted.
NamRA Chairperson Anna Nakale-Kawana praised the agency’s commitment to transparency and its achievement of submitting its annual report within the legally mandated deadline for the first time.
“This occasion reflects not only our commitment to transparency and accountability but also our dedication to upholding the highest standards of governance,” Nakale-Kawana said.
“This is our third annual report, and the first to be delivered on time. The first two were slightly delayed as the agency was still establishing itself, and staffing was incomplete. But we have grown, and this year, we submitted the report on time as prescribed,” she explained.
With NamRA setting a precedent, Shiimi urged other PEs to follow suit and ensure accountability in their financial reporting, reinforcing public trust in government agencies.
The report was audited by PWC and is set to be available to the public after being tabled in Parliament by Shiimi in the coming weeks.
