{"id":20938,"date":"2022-05-31T16:20:06","date_gmt":"2022-05-31T16:20:06","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-swiss-agenda-no-priority-on-corruption"},"modified":"2022-05-31T16:31:46","modified_gmt":"2022-05-31T16:31:46","slug":"namibias-swiss-agenda-no-priority-on-corruption","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-swiss-agenda-no-priority-on-corruption","title":{"rendered":"Namibia’s Swiss Agenda: No Priority on Corruption"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>\u201cWHY IS Anti Corruption Commission director Paulus Noa not part of the Davos delegation if we are truly serious about fighting corruption at home and abroad? I just hope the politically exposed businessman Knowledge Katti does not end up as part of the Davos delegation.\u201d<\/p>\n

These were the remarks of my friend Shiningayamwe Vilho as we were analysing last week’s Davos-Namibia House Programme of Events.<\/p>\n

Vilho’s perceptions are informed by Davos being in Switzerland, where ‘Katti stashed N$100m in a Swiss bank’. (The Namibian, 4 March 2022). Secondly, The Namibian (23 February) ran an article, ‘Over 20 Namibians named in Swiss bank data leak’.<\/p>\n

We are still waiting for the names of Namibians with secret accounts with Credit Suisse Bank in Switzerland to be released.<\/p>\n

The German newspaper S\u00fcddeutsche Zeitung and Organised Crime and Corruption Reporting Project, OCCRP (2 February 2022) revealed that \u201cCredit Suisse Bank accounts held more than US$8 billion (about N$121 billion) and dozens of the accounts belonged to corrupt politicians, criminals, spies, dictators and other dubious characters\u201d worldwide.<\/p>\n

MISSED OPPORTUNITY<\/p>\n

Not having ACC director Noa in the Davos delegation was a missed opportunity. He could have delivered a strong message on Switzerland’s banking secrecy laws and requested the release of the names of Namibians purported to have secret accounts.<\/p>\n

Namibia’s ACC needs to take a stand on financial loopholes linked to tax havens worldwide and in the Swiss banking sector.<\/p>\n

Swissinfo (2016) reported that there is growth in the list of illicit potentate funds being seized in Swiss banks and returned.<\/p>\n

They include Mobutu (former Zaire), Dos Santos (Angola), Abacha (Nigeria), Salinas (Mexico), Duvalier (Haiti), Ben Ali (Tunisia), and Mubarak (Egypt).<\/p>\n

This indicates that Swiss banks are littered with poor nations’ resources and that Suisse Credit Bank should not be treated as an isolated case.<\/p>\n

The Swiss banking market has no moral legitimacy. Davos could have been a diplomatic opportunity to not only market Namibia as an investment destination but to take an ethical stand on secret Swiss accounts.<\/p>\n

Also at Davos, chairman of CreditSuisse’s board of directors, Axel P Lehmann, told the World Economic Forum (WEF) about the push for an idea for a central bank digital currency (CBDCs) in Davos.<\/p>\n

Lehmann said this type of currency would allow citizens to open accounts with a central bank, instead of just with commercial banks. Noa could have engaged Lehmann on the broader cause of justice.<\/p>\n

Third World nations are grappling with a decline in revenue, debt consolidation, budget cuts, deepening inequality, underdevelopment, and a lack of opportunities for young people to thrive.<\/p>\n

The loose practice of secret bank accounts such as those at Credit Suisse Bank in a ‘First World’ country like Switzerland contributes to the ills of developing countries.<\/p>\n

Noa addressing significant concerns such as these while in Davos could have made a significant, and legitimate, difference.<\/p>\n

SEEKING SOLUTIONS<\/p>\n

The 2019 UN report on Financing Sustainable Development shows that money stashed offshore is estimated to be around US$20-30 trillion. The Tax Justice Network estimates that corporate and personal tax avoidance costs world governments US$700 billion a year in tax receipts.<\/p>\n

Under the the World Economic Forum’s watch, Third World nations are all but ‘skinned alive’ by the likes of Swiss banking secrecy and offshore tax havens.<\/p>\n

In my published open letter to UN secretary general Antonio Guterres in 2020, titled ‘Tax Havens: a Trojan Horse Within Multilateralism’, I suggested possible considerations on Swiss banking practices and tax havens:<\/p>\n

1. Establish a UN multilateral tax treaty as regulatory pressure, and impose sanctions and blacklist tax havens to compel the opening up of banking information systems.<\/p>\n

2. Establish an international litigation court to deal with public looters, and with plunder in the multilateral and offshore sector. Similar to the International Criminal Court of Justice, an international civil judicial body could foster good commercial governance, transparency and help deter shady dealings by tax avoidance enablers and by leaders turned plunderers.<\/p>\n

3. Review provisions of the UN Convention Against Corruption to empower civil society. In this way, nations will have alternatives to reclaim their exported wealth.<\/p>\n

For More News And Analysis About Namibia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Namibia. \u201cWHY IS Anti Corruption Commission director Paulus Noa not part of the Davos delegation if we are truly serious about fighting corruption at home and abroad? I just hope the politically exposed businessman Knowledge Katti does not end up as part of the Davos delegation.\u201d These were the remarks of my friend […]<\/p>\n","protected":false},"author":84,"featured_media":20937,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,6,8,16],"tags":[234,236,233],"class_list":["post-20938","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-files","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-namibia","tag-namibia"],"yoast_head":"\nNamibia's Swiss Agenda: No Priority on Corruption - Namibia<\/title>\n<meta name=\"description\" content=\"\u201cWHY IS Anti Corruption Commission director Paulus Noa not part of the Davos delegation if we are truly serious about fi ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-swiss-agenda-no-priority-on-corruption\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Namibia's Swiss Agenda: No Priority on Corruption\" \/>\n<meta property=\"og:description\" content=\"\u201cWHY IS Anti Corruption Commission director Paulus Noa not part of the Davos delegation if we are truly serious about fi ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-swiss-agenda-no-priority-on-corruption\" \/>\n<meta property=\"og:site_name\" content=\"Namibia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-31T16:20:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-31T16:31:46+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/05\/postQueueImg_15-629642dde2f1b.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"873\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-swiss-agenda-no-priority-on-corruption#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-swiss-agenda-no-priority-on-corruption\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Namibia’s Swiss Agenda: No Priority on Corruption\",\"datePublished\":\"2022-05-31T16:20:06+00:00\",\"dateModified\":\"2022-05-31T16:31:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-swiss-agenda-no-priority-on-corruption\"},\"wordCount\":694,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-swiss-agenda-no-priority-on-corruption#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nambia\/sites\/29\/2022\/05\/postQueueImg_15-629642dde2f1b.jpg\",\"keywords\":[\"africa press\",\"Africa Press-Namibia\",\"namibia\"],\"articleSection\":[\"all news\",\"files\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-swiss-agenda-no-priority-on-corruption#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-swiss-agenda-no-priority-on-corruption\",\"url\":\"https:\/\/www.africa-press.net\/namibia\/all-news\/namibias-swiss-agenda-no-priority-on-corruption\",\"name\":\"Namibia's Swiss Agenda: No Priority on Corruption - 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