Central Bank loses exchange control case on appeal

Diesentrale Bank van Namibië (BoN) het verlede week in die hooggeregshof ’n aansoek oor valutabeheer teen kleinhandelaars wat in die Noorder gebaseer is, op appèl verloor. In die hoërhof het regter Shafimana Ueitele verlede jaar in Maart ’n besluit deur BoN en senior valutabeheer-beampte Penelao Kapenda om die bankrekeninge van verskeie maatskappye van die Rani Groep te vries, tersyde te stel. Ueitele het aangevoer dat Kapenda nie tot magte was om die maatskappy se rekeninge te vries nie. In sy redes, het die hooggeregshof gesê dat die hoërhof reg was in sy bevinding dat daar ’n weerlegbare aanname teen subdelegasie is [rebuttable presumption against sub-delegation]. Dit het beteken dat die bevoegdheid wat gedelegeer is nie outomaties die bevoegdheid om verder te delegeer insluit nie. "Of die gedelegeerde magte verder gedelegeer kan word hang af van die konteks waarin die oorspronklike delegering plaasgevind het en of dit weerlegbaar is teen verdere delegasie, " lui die uitspraak. The Supreme Court further found that the minister of finance delegated to BoN was powers and functions to be performed by the Board or the Governor and neither of these entities can sub-delegate these powers and functions beyond those two categories and hence. “There are no provisions in either the Bank of Namibia Act 8 of 1990 or the Bank of Namibia Act 1 of 2020 which allow BoN to vary the mandate conveyed to them in thedelegation from the Minister of Finance unilaterally,” the judgement said. Kapenda in 2023 received an anonymous tip-off alleging that the businesses under the Rani Traders group were unlawfully dealing in foreign exchange by receiving and depositing foreign currencies into their bank accounts without proper authorization.Following this tip-off, Kapenda initiated an internal investigation and covert operations, which led to the decision to block the bank accounts of the applicants.Chief Justice Peter Shivute, Judge President Petrus and Supreme Court judge Theo Frank made the ruling in favour of the Rani Group 's retail outlets.

Central Bank loses exchange control case on appeal

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Republikein 2025-10-27

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Central Bank loses exchange control case on appeal

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