Swapo grows assets while IPC battles deficit

Ruling party Swapo ended the 2025/26 financial year with more than N$7 million in assets and a surplus of nearly N$4 million.

Meanwhile, official opposition party Independent Patriots for Change (IPC) is sitting with total liabilities of N$1.8 million and a deficit of N$777 217.

The annual reports were published in local media this week.

Swapo’s financial report for the year ended 31 March shows the party recorded political funding income of N$107.7 million and earned an additional N$706 892 in finance income.

The party spent N$104.5 million on political funding activities. It recorded a surplus of N$3.9 million for the year, with total assets standing at N$7 million with no reported liabilities.

Assets more than doubled in one year.

At the end of the 2024/25 financial year, the party’s asset base was N$3.1 million.

While the party raked in a massive N$117.9 million in political funding income in 2025, it lost an annual income of N$13 million after losing 12 parliamentary seats in the November 2024 elections.

IPC CASH RESERVES FALL

The IPC reported a deficit and a decline in total cash holdings.

For the year ended 31 December 2025, the IPC recorded total income of N$30.8 million, with other income amounting to N$22 774.

At the end of the 2024 financial year, the party had an income of N$10 million with other income amounting to N$2 626.

At the time only N$2.5 million of that came from government grants, leaving a N$7.5 million from other sources.

However, this 2024 success has failed to stabilise the party’s long-term health.

By the end of 2025, the IPC’s financial position turned insolvent, with total liabilities of N$1.86 million far outweighing its N$390 061 in assets.

Assets were valued at N$1.1 million at the end of the 2024 financial year.

The party’s liquid cash has virtually evaporated, dropping from nearly N$1 million at the beginning of the financial year to just N$22 034 in 12 months.

At the same time, the party’s operating expenses exceeded income, reaching N$31.6 million, resulting in an annual deficit of N$777 217.

The party’s cash position also declined during the year, with total cash movement showing a decline of N$926 280.

SWANU LIVES WITHIN ITS MEANS

Swanu of Namibia’s financial report for the year ended 28 February 2025 shows the party received N$1.34 million in government grants, of which N$1.29 million was used during the year.

The party had N$49 521 remaining in unused subsidy funds at the end of the reporting period.

A June 2025 report by the Institute of Public Policy Research (IPPR) suggests that taxpayers have spent N$181 million on political party funding.

In its February 2023 report, the IPPR noted that most political parties were still failing to account fully for their funding and finance in a timely manner.

The post Swapo grows assets while IPC battles deficit appeared first on The Namibian.