THE Public Accounts Committee (PAC) has heard that government signed a Memorandum of Understanding (MoU) in 2007, where Namibia granted land for Zambia to develop a dry port at Walvis Bay Port, without the Attorney General’s approval. PAC also heard that government later signed a 25-year concession agreement with African Union Financial Services (Private) Limited, a subsidiary company of Africa Union Holdings (AUH) founded in 2003 by South African-based businessman James Ndambo. However, the agreement has been terminated by the Zambian government due to the concessionaire’s failure to fulfil its contractual obligations. PAC further heard that government paid over K40 million to the Namibian Port Authority in 2024 for port rental and utility arrears. The latest AG report revealed that...
