…PAMA’s interim board given 30 days to submit work programme
The Namibian government has registered more than N$179 billion worth of state assets as it moves to establish a comprehensive national asset register under the newly created Public Assets Management Agency (PAMA).
Works and Transport Minister Veikko Nekundi announced the milestone during the appointment of PAMA’s interim board, directing all government institutions, state-owned enterprises, agencies and local authorities to submit details and valuations of their immovable assets for inclusion in the register.
He said an updated asset register is expected to be presented to Cabinet by early September.
“The Republic of Namibia owns a significant portfolio of immovable assets that represent substantial public investment. At present, we have registered more than N$179 billion worth of state assets, and we are still registering more. More assets still need to be accounted for, and we expect the various state entities to submit their lists of assets and their values as assessed by their valuers. We will continue with this process,” Nekundi said.
The minister also gave PAMA’s interim board 30 days to submit a work programme outlining how the agency will be established and operationalised, including its governance framework, organisational structure, policies and remuneration arrangements.
The interim board has been appointed for six months, or until the company has been registered and its policy framework has been finalised.
“Your appointment as members of the Interim Board of Directors is for a period of six (6) months to oversee the registration of the company and policy formulation or until such time the registration and policy formulation is finalised,” Nekundi said.
The board is chaired by property management specialist Irmgard Hamayulu, with finance specialist Leilanie Hochobeb serving as deputy chairperson.
Other members include engineer Set-son Kondjashili Shifidi, legal specialist Laurence Clive Kavendjii and information technology specialist Professor Suama Hamunyela. PAMA Accounting Officer Kristofine Naunyango will serve as an ex-officio member.
Nekundi said the agency will manage government properties that are not directly required for public service delivery, with the aim of improving asset utilisation, increasing revenue generation and unlocking their commercial value.
He said PAMA will operate on a commercial basis and is expected to become financially self-sustaining. Although government will provide initial capital, the agency will be required to manage its assets efficiently, reach break-even and eventually generate profits.
Its mandate includes improving property utilisation, strengthening revenue generation, reducing unnecessary expenditure and enhancing maintenance.
“The establishment of PAMA is therefore intended to introduce a fundamentally different approach, one that regards public assets not merely as properties to be maintained, but as strategic national assets that must be actively managed, optimised and appropriately commercially leveraged in accordance with the relevant regulations and legislation administered by the Ministry of Finance,” he said.
Nekundi stressed that commercialisation would not diminish public accountability, saying all state assets will remain subject to the State Finance Act and other applicable legislation, with public entities expected to manage them transparently and responsibly.
