The SME Bank has repossessed four Insight luxury coaches including an undetermined number of properties belonging to US-based Namibian businessman Brian Aongola Nalisa, New Era has established.
New Era understands the buses were repossessed due to Nalisa defaulting on loan re-payments estimated to be in the region of around N$20 million.
Contacted for comment yesterday, SME Bank acting chief executive officer (CEO) Benastus Herunga refused to respond to questions about the size of the loan to Insight, or over how many years Nalisa was expected to repay the loan, and how much was in arrears.
“All client information is confidential and thus we cannot share confidential client information as is the norm in the banking industry,” he said, and added that due to litigation underway, he was unable to make any statement on the matter at this time.
In addition, Nalisa did not respond to questions sent to him by New Era via WhatsApp by the time of going to print despite promises that he would.
Yesterday, Nalisa also unfriended this journalist on his social media account.
The company website states Insight Luxury Coaches is a luxury coach operator that provides an unmatched experience of luxury travel.
Its mission, it says, is to create a profitable and sustainable global brand for buses, coaches and road transportation of passengers. The buses operated from Windhoek to Zambia via Katima Mulilo, among other routes.