Bank Windhoek delays Mukupi auction



Bank Windhoek heeded a last-minute request from the distressed family of the late Felix Mukupi and deferred the possible public sale of several properties belonging to the Mukupi estate to recover a loan advanced to the prominent late businessman, who was based at his hometown of Katima Mulilo.
The sale to the highest bidder of some of the Mukupi properties, planned for last Friday, did not go ahead after Postrick Kasungu, the first cousin and family spokesperson for the Mukupi children, accompanied by Ivy Mukupi, one of the children of the late Mukupi, had a meeting with Bank Windhoek on Friday.
The last-minute intervention by Kasungo and Ivy Mukupi stalled the public sale that is said to have attracted frenzied pre-sale inquiries from several business people that expressed interest to buy specifically the prime Lyambai complex that is located in the CBD of Katima Mulilo.
Kasungo said an official in the legal department of Bank Windhoek said the bank would defer the planned auction to enable him and other members of the family to raise funds to redeem the outstanding debt.
“We felt the bank should not auction those properties as they are currently the livelihood of the eight children of the late Mukupi. We assured Bank Windhoek we will raise the money by selling one of the properties that was not attached and they listened to us and said they would delay the planned sale for now to enable us to raise the required amount,” explained Kasungo.
He also revealed that one issue that cropped up during the meeting last Friday morning with Bank Windhoek’s legal department was that it seemed there was “very poor communication” between Ivy Mukupi and Orben Sibeya, the lawyer appointed to handle the Mukupi estate, though he would not go into details.
Kasungo, who like other relatives felt great relief as the planned Mukupi property auction was deferred, also expressed his gratitude that Bank Windhoek showed a human face and listened to them.
Felix Mukupi died in June 2012 without leaving a will. His death resulted in one of the largest funerals ever witnessed in the Zambezi, with several Cabinet ministers and hundreds of mourners in attendance. He was renowned for his generosity and in some cases helped to build houses for the elderly and other vulnerable people.


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