Shipoke pockets N$7 million ...as a resignation package

BUSINESSMAN Paulo Shipoke will be paid N$7 million for resigning from Power−Oyeno Construction, the company which received an N$800 million tender for the Swakopmund mass housing project.

Metcalfe Attorneys Walvis Bay, who are representing Shipoke’s partner Albert Antonius−Paulus, announced this yesterday. Shipoke’s exit is as a result of constant fights and accusations of the misuse of money and dishonesty, amongst many other things. “Power−Oyeno Construction (Namibia) wishes to advise the public through the media that Paulo Shipoke is no longer the managing director of Power−Oyeno Construction (Namibia). Shipoke resigned voluntarily on 26 April 2016,” Antonius−Paulus’s lawyers Metcalfe Attorneys stated. Shipoke’s resignation signals the end of a sour relationship he had with his businesspartner−turned−rival Antonius−Paulus. The exit by Shipoke means he will be paid N$7 million for going out of a joint venture company between a Namibian company and a South African firm, who are constructing houses under the mass housing project.