The Spar Group South Africa is suing four Namibian businessmen and their company, Insignia Retail (PTY) Limited trading as “Rehoboth Build It”, for N$92 million for breach of contract.
In claims filed at the High Court, Spar argues that on 25 October 2017, the parties – including Build It directors Taarah Shaanika, Mekondjo Kweenda, Ambrosius Mulongweni, and Ndinelao Kweenda concluded a written credit agreement in Western Cape Province, South Africa incorporating the retailer’s standard terms of sale for the supply of goods in trade.
Under the agreement, Spar would supply the Insignia Retail with goods in trade and sundry items falling into three categories, being warehouse transactions, drop shipment transactions, other transactions in accordance with Spars current prices.
“We would invoice Insignia for those items in the form of weekly statements and payment would become due within 19 days from the date of the weekly statement, in the case of warehouse transactions, within 48 days from the date of the weekly statement, in the case of drop shipment transactions, upon weekly statement in respect of all other transactions,” Spar said in court documents.
Jeannetta Botha, Spar’s Credit Manager insists that they complied with their obligations under the supply agreement and supplied to Insignia at their special instance and request, stock in trade and sundry items, at Spars current prices.
“The total indebted amount now due and payable under the supply agreement, by them for the supply of the stock in trade, sundry items and accrued interest, is the sum of N$92,660,223.32,” Botha says.
In the meantime, Insignia has filed a notice of intent to defend the application in a matter that is being presided over by Judge Boas Usiku.
Barrister Jacobus Visser is representing Spar while Sisa Namandje represents Insignia.
