{"id":34308,"date":"2022-11-21T17:44:32","date_gmt":"2022-11-21T17:44:32","guid":{"rendered":"https:\/\/www.africa-press.net\/namibia\/all-news\/report-recommends-action-against-transnamib-executives"},"modified":"2022-11-21T17:44:32","modified_gmt":"2022-11-21T17:44:32","slug":"report-recommends-action-against-transnamib-executives","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/namibia\/all-news\/report-recommends-action-against-transnamib-executives","title":{"rendered":"Report recommends action against TransNamib executives"},"content":{"rendered":"

Africa-Press – Namibia. <\/strong><\/span>A report into the management of struggling railway company TransNamib reccomends that the finance minister considers disciplinary action against executives who received generous bonuses while the company was struggling to pay creditors.<\/p>\n

The payments were made without the knowledge of TransNamib\u2019s executive for finance, according to the report that has been kept<\/p>\n

under wraps since March.<\/p>\n

Four TransNamib executives earned N$700 000 in performance bonuses in 2019, without evidence to back up their purported excellence.<\/p>\n

The damning finding is contained in a leaked forensic report by audit firm Ernst and Young (EY), which suggests that the four executives dubiously received performance bonuses, although a performance management system was not in place. Responding to queries, TransNamib said it will not be drawn into replying to leaked documents.<\/p>\n

\u201cI have to refer you to the ministry of public enterprises (MPE) since we do not comment on leaked documents, and the document refers to a process initiated by MPE. They would be the correct body to comment on this matter,\u201d said Abigail Raubenheimer, the parastatal\u2019s spokesperson.<\/p>\n

The beneficiaries of the payment include TransNamib CEO Johny Smith, property executive Alynsia Platt, human capital boss Webster Gonzo and former engineering executive Ferdinand Ganaseb.<\/p>\n

Ganaseb has since left the national rail operator. The submission, which would eventually be signed off by Smith, was made by Gonzo in November 2019, the dossier reviewed by New Era shows.<\/p>\n

What is peculiar is that no other TransNamib employee received a performance appraisal, apart from the quartet.<\/p>\n

\u201cWe refer to this process as \u2018selective performance recognition\u2019 due to the fact that none of the other employees (not entitled to a 13th cheque) were assessed or appraised in terms of the performance management policy at this time.<\/p>\n

The recommendation goes on to say that the CEO scored 13.8 out of 20, which meets the good performance \u2018Exceeds performance requirements\u2019 category, and therefore qualifies for a 15% of [total cost to company] TCTC bonus,\u201d EY found.<\/p>\n

Wrong turn<\/p>\n

What is worrying, the firm added, was the timing of when the performance bonuses were paid.<\/p>\n

While the executives were receiving a pat on the back for a job well done, the entity was struggling to meet its financial obligations with third parties.<\/p>\n

\u201cThe actual timing of these payments (July 2021 up to October 2021) is also cause for concern, especially when considering the adverse cash flow position of TransNamib that existed during this period,\u201d reads a section of the report.<\/p>\n

It continues: \u201cThe unpaid creditors\u2019 payments as at 31 May 2021 totalled an amount of N$14 million.\u201d<\/p>\n

In July 2021, TransNamib owed N$14.4 million in outstanding medical cover and retirement fund contributions.<\/p>\n

\u201cThe recommendation and recent payment of the performance bonusses to the selected executives, despite the dire financial position of TransNamib, remains a contentious issue, especially if seen in the context of the ever-growing labour dissatisfaction and poor morale within TranNamib.\u201d<\/p>\n

The figure stood at N$17 million in August and N$24 million in October that year, the auditors found.<\/p>\n

\u201cWe questioned the executive [finance] about the payments of the performance bonusses during the period July to October 2021 in light of TransNamib\u2019s above-mentioned dire cash flow position during the said period. However, he [ Cornwell Chadya] indicated that he had no knowledge of any performance bonus payments during this time.<\/p>\n

\u201cWe also noted from the relevant surrounding email correspondence that only the CEO [Smith], the executive human capital, Mr Webster Gonzo and Mrs Nico-Ann Alexander were privy to this particular \u2018instruction\u2019 and\/or the relevant emails during July 2021.\u201d<\/p>\n

No synergy<\/p>\n

Moreover, the investigators observed a general lack of coordination between TransNamib\u2019s departments, despite Anneline Black\u2019s appointment as executive for operations in 2020. \u201cWe noted an apparent general lack of teaming between the relevant departments (operations, commercial and marketing, corporate services, human capital, property and finance) during our interviews, which is perceived to be one of the reasons for TransNamib\u2019s inability to address the historic challenges and inefficiencies,\u201d reads another part.<\/p>\n

The lack of synergy has had negative ramifications on TransNamib\u2019s upward mobility.<\/p>\n

The lack of teamwork, poor planning, control and capacity-building – needed for the effective deployment of scarce resources were highlighted by EY.<\/p>\n

It continues: \u201cThe lack of teaming and coordination when negotiating or considering new business opportunities or when considering revisions of existing contracts and failure to consolidate existing strategies, plans and statistics into a combined operational contingency strategy,\u201d were also flagged.<\/p>\n

Pay back<\/p>\n

The investigation into TransNamib\u2019s affairs was sanctioned by erstwhile public enterprises minister Leon Jooste, following a myriad allegations of maleficence at<\/p>\n

the struggling entity.<\/p>\n

Jooste has since resigned from both Cabinet and parliament, with his ministry now just a department within the finance ministry. Attempts to get comment from Finance Minister Iipumbu Shiimi proved futile. \u201cPublic Enterprises and\/or the board could consider recovering the ostensibly irregular and unauthorised payment of performance bonuses from the relevant beneficiaries.<\/p>\n

\u201cPublic Enterprises (MPE) and\/or the could board consider conducting a comprehensive employee survey to establish the extent of the fears, distrust and disillusion within the entity and its management,\u201d said the report.<\/p>\n

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

Africa-Press – Namibia. A report into the management of struggling railway company TransNamib reccomends that the finance minister considers disciplinary action against executives who received generous bonuses while the company was struggling to pay creditors. 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A report into the management of struggling railway company TransNamib reccomends that the finance minister considers disciplinary action against executives who received generous bonuses while the company was struggling to pay creditors. 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