The collapse of a Windhoek financial advisory firm has raised fears that Namibian investors, including pensioners, might have lost millions of dollars through foreign exchange trading.
Wealth Management Solutions (WMS), run by managing director Hanjo Schlabitz, has collected money from Namibian clients and invested it on their behalf through brokers and trading accounts.
The Namibian understands that WMS placed N$17 million with IJG Securities, a Namibian stockbroker, which says those funds are safe.
Clients estimate WMS’ total losses in foreign exchange investments run into millions.
Schlabitz’s firm applied for voluntary liquidation on 21 April, a month after it lost a large sum of money in foreign exchange trading.
“It…