The Namibian government’s current immovable assets are valued at N$47.4 billion, comprising about 9,640 individual properties, according to Minister of Works and Transport Veikko Nekundi.
Responding to parliamentary questions from McHenry Venaani, Nekundi said the government’s asset register remains a “living document,” reflecting the continuous acquisition and disposal of properties based on public service needs.
“In brief, the total value of immovable assets recorded thus far amounts to N$47,412,633,025.90, comprising approximately 9,640 individual assets. Honourable Members may observe that I state ‘thus far’ rather than providing a fixed figure,” Nekundi said.
He explained that the centralised asset management system tracks key categories such as land, housing, clinics, prisons, hospitals and schools, ensuring effective monitoring and accountability of state-owned property.
Nekundi said all acquisitions are guided by the Public Procurement Act of 2015, while disposals follow the State Finance Act of 1991, which requires Treasury authorisation and independent valuations by the Valuer-General.
These safeguards, he said, ensure the State neither overpays for nor undersells its assets.
The minister assured Parliament that government asset management practices are “sound, transparent, and continuously evolving.”
He said annual stocktaking and the Uniform Stock Control System verify the State’s physical holdings and integrate the results into the national financial management framework.
“Our systems may not be perfect, perfection being a standard even this August House occasionally falls short of, but they are sound, transparent, and continuously evolving to meet the demands of modern public administration,” Nekundi said.
