Jooste launched the investigation into the SSC land purchase after a report by The Namibian revealed that the SSC had paid more than N$36 million for two plots, a cost which some sources have termed as overinflated. The SSC bought the two plots, which are close to Hosea Kutako Drive and across from the Electoral Commission of Namibia's head office in Windhoek North, from businessman Ambrosius Tierspoor last year. Tierspoor sold this plot to the SSC for N$23 million (or about N$11 000 per square metre) on 10 December 2016, making a profit of N$7 million. They sold the plot on the same day to the SSC for N$13 million (or about N$13 400 per square metre), making a profit of N$9 million. Tierspoor's speculative activities appear to have thus earned him N$16 million profit from the sale of the two plots.

Source: The North Africa Journal April 24, 2017 13:41 UTC