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Icelandic company plans to quit Namibia

Publish date: 20 January 2020
Issue Number: 856
Diary: IBA Legalbrief Africa
Category: Corporate

The Icelandic company at the centre of the Fishrot bribery scandal said it plans to withdraw its businesses from Namibia. The company has been trying to sell its assets in Namibia, including a US27.6m vessel which it bought with Namibians using state sanctioned fishing quotas. The Namibian reports that Samherji's acting chief executive Bjorgolfur Johannsson confirmed the exit plans in a statement on Friday. ‘The process will be conducted in close dialogue with relevant authorities and in line with international standards and law,’ he said. The Icelandic seafood company is accused of paying kickbacks to Namibian politicians such as former disgraced Justice Minister Sacky Shanghala and Fisheries Minister Bernhard Esau. They are facing corruption and money laundering charges.

Full report in The Namibian