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Thursday, 22 October 2026
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Thursday, 22 October 2026
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Namibian press · Organization

NAMCOR

Also known as: National Petroleum Corporation (Namcor) · National Petroleum Corporation · The National Petroleum Corporation of Namibia · the Namcor terminal · National Petroleum Corporation of Namibia (Namcor) · Namcor matter · Namcor corruption case · Namibia Petroleum Corporation of Namibia · state oil company Namcor · National Petroleum Corporation of Namibia · national oil company Namcor

State-owned national petroleum corporation at center of N$400 million fraud case involving fugitive businessman Victor Malima.

2022-04-142026-10-22
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News reports

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What’s been said

Key points drawn from coverage. Tap a point to see the original sentence.

  1. June 2025

  2. The Namibian

    Namcor terminated Mulunga's employment on 8 August 2024, citing Enercon transaction

    Source

    “On 8 August 2024 – just one day after the disciplinary ruling – the board officially terminated Mulunga's employment, citing the Enercon matter as the final straw.”

    I don’t think Namcor wants me – Mulunga

  3. The Namibian

    Namcor dismissed Mulunga on 8 August 2024 over several allegations

    Source

    “Mulunga, who headed Namcor for eight years, was dismissed on 8 August 2024 over several allegations, including the unauthorised N$50 million acquisition of assets from military contractor Enercon.”

    Mulunga wins labour case against Namcor

  4. The Namibian

    Namcor was ordered to pay Mulunga N$4 000 in costs

    Source

    “Namcor was also ordered to pay Mulunga N$4 000 in costs.”

    Mulunga wins labour case against Namcor
  5. April 2025

  6. The Namibian

    Namcor had service station at Soweto, Katutura robbed of N$100,000

    Source

    “Five armed robbers struck at the National Petroleum Corporation of Namibia (Namcor) service station at Soweto, Katutura, in Windhoek and stole about N$100 000 at around 09h00 yesterdaymorning.”

    Robbers steal N$100 000 from Namcor filling station

  7. The Namibian

    Namcor suffered no financial losses due to armed robbery at Soweto service station

    Source

    “The National Petroleum Corporation of Namibia (Namcor) has revealed that the corporation suffered no financial losses due to the armed robbery at its Soweto service station at Katutura in Windhoek on Monday.”

    Namcor lost no money in service station robbery

  8. The Namibian

    Namcor expresses sympathy and support to the dealer affected by the event

    Source

    “"Namcor expresses sympathy and support to the dealer affected by this unfortunate event," a statement by the fuel company reads.”

    Namcor lost no money in service station robbery
  9. March 2025

  10. The Namibian

    NAMCOR appointed Victoria Sibeya as acting managing director effective 1 April

    Source

    “THE National Petroleum Corporation of Namibia (Namcor) has appointed Victoria Sibeya as its acting managing director effective 1 April.”

    Namcor appoints Victoria Sibeya as acting MD

  11. The Namibian

    Namcor refuted social media reports that five employees were forced to resign

    Source

    “The National Petroleum Corporation of Namibia (Namcor) has refuted social media reports suggesting that five of its employees were forced to resign.”

    Namcor dismisses claims of forced resignations

  12. The Namibian

    Namcor stated the departures were voluntary and not linked to any internal investigations

    Source

    “The company says the departures were voluntary and not linked to any internal investigations.”

    Namcor dismisses claims of forced resignations

  13. The Namibian

    Namcor filed for Enercon's liquidation in High Court to reclaim N$114-million debt

    Source

    “The parastatal has since filed for Enercon's liquidation in the High Court to reclaim the N$114-million debt.”

    N$60-million payout to Enercon despite fuel delivery failure sparks controversy
Politics

High Court orders auction of Elindi's Ford Ranger Raptor vehicle

The News

The High Court has issued a notice for the public auction of a 2021 Ford Ranger Raptor belonging to Austin Elindi, who is facing corruption charges linked to the National Petroleum Corporation of Namibia. The vehicle will be auctioned on 29 October at Advanced Refrigeration in Oshakati following a judgement granted by the High Court on 28 November 2025 in a matter involving Bank Windhoek Limited as plaintiff.

15 hours ago · The Namibian →

Yesterday

  1. High Court orders auction of Elindi's Ford Ranger Raptor vehicle

    The High Court has issued a notice for the public auction of a 2021 Ford Ranger Raptor belonging to Austin Elindi, who is facing corruption charges linked to the National Petroleum Corporation of Namibia. The vehicle will be auctioned on 29 October at Advanced Refrigeration in Oshakati following a judgement granted by the High Court on 28 November 2025 in a matter involving Bank Windhoek Limited as plaintiff.

    15 hours ago · The Namibian →

Sunday 11 October

  1. RCC acting CEO blames political interference for fuel payment scandal

    The acting chief executive of the Roads Contractor Company alleges that political interference and a fellow executive caused the company to pay N$17 million for fuel that was never delivered, with payments made to a company linked to fugitive Victor Malima. The acting CEO, who was placed on forced leave, has called for a commission of inquiry to clear his name and investigate alleged lost RCC assets and questionable contracts.

    11 October 2026 · The Namibian →

Thursday 8 October

  1. Bank pursues N$2m Mercedes owned by fugitive Malima

    Bank Windhoek is seeking to seize a N$2-million Mercedes-Benz owned by Victor Malima's company Eco Trading CC, which owes the bank N$2.9 million. Malima, a fugitive wanted for his role in the Namcor corruption scandal, allegedly fled to Angola in July and has defaulted on payments since August.

    8 October 2026 · The Namibian →

Tuesday 6 October

  1. IPPR warns amended procurement rules heighten corruption risks

    The Institute for Public Policy Research says procurement regulations gazetted in August increase thresholds for discretionary spending and allow high-value public entities like the National Petroleum Corporation to contract works projects worth up to N$500 million without Central Procurement Board oversight, raising risks of political pressure, patronage and collusion in an already non-transparent system.

    6 October 2026 · The Namibian →

Friday 2 October

  1. BP takes over three Walvis Basin oil blocks from Eco Atlantic

    British oil giant BP has received government approval to take over three oil blocks in the Walvis Basin from Eco Atlantic Oil and Gas. Under the farm-out agreement announced in April, BP acquires 60% of Eco Atlantic's participating interest in the licences (PELs 97, 99, and 100) in exchange for N$44 million and covering exploration costs, while Eco Atlantic retains 25%.

    2 October 2026 · The Namibian →

Monday 28 September

  1. Skeleton Basin appoints Mertens as board chairman

    Skeleton Basin Investments Limited has appointed three independent non-executive directors, including Debmarine Namibia chief executive officer Willy Mertens as chairman of the board, effective 25 September 2026.

    28 September 2026 · Windhoek Observer →

Wednesday 23 September

  1. TotalEnergies selected as sole bulk fuel supplier for Q4 2026

    The Ministry of Industries, Mines and Energy announced that TotalEnergies has been selected as the sole supplier of Namibia's bulk petrol and diesel for November 2026 to January 2027. New oil player Nasan Energies, founded in late 2024 and majority-owned by Millennium Group chief executive Miguel Hamutenya, participated in the bidding round, while state-owned Namcor did not.

    23 September 2026 · The Namibian →

Tuesday 22 September

  1. TotalEnergies wins Namibia's three-month fuel supply contract

    Namibia has selected a TotalEnergies-led group to supply bulk petrol and diesel for three months from November to January, covering approximately 345 million litres with expected savings of about N$220.5 million through an average discount of 63.85 cents per litre.

    22 September 2026 · Informanté →

  2. Board governance blurs when shareholders and ministers intervene

    An opinion piece argues that governance structures fail when shareholders, ministers, and boards simultaneously make operational and strategic decisions, creating confusion about accountability and responsibility. The author cites his resignation from a board where shareholders overstepped their role, illustrating how "blurred mandates" undermine effective governance.

    22 September 2026 · Windhoek Observer →

Monday 21 September

  1. RCC launches probe into N$30m fuel supply deal with fugitive Malima

    The state-owned Roads Contractor Company has launched an internal investigation into a N$30-million fuel supply deal linked to fugitive businessman Victor Malima, of which N$17 million's fuel was never delivered since 2023. The RCC has also paid Oshali Fuel Centre CC N$27 million for undelivered fuel, with Oshali's owner Simeon Handjene facing fraud and corruption charges related to a broader Namcor case.

    21 September 2026 · The Namibian →

Sunday 20 September

  1. RCC paid N$30m for fuel, N$17m never delivered

    The state-owned Roads Contractor Company paid N$30 million to suppliers for fuel, of which N$17 million's worth was never delivered. The deal is linked to fugitive businessman Victor Malima and involves transactions personally approved by RCC interim chief executive Dasius Nelumbu between September 2023 and July 2025.

    20 September 2026 · The Namibian →

Thursday 3 September

  1. Bank Windhoek sues Malakia Elindi for N$2.7 million BMW debt

    Bank Windhoek has brought a summary judgment application against businessman Malakia Elindi to recoup over N$2.7 million used to purchase a luxury BMW vehicle. Elindi, arrested in July 2025 alongside his brother in a Namcor fraud case alleging N$400 million in losses, has faced mounting creditor claims including prior court orders totalling millions in outstanding debts.

    3 September 2026 · Informanté →

Wednesday 2 September

  1. Presidency appoints Upstream Petroleum Unit as petroleum local content regulator

    The Presidency has designated the Upstream Petroleum Unit as the regulator of upstream petroleum local content, following Cabinet approval of a new local content policy on 4 August. This represents a shift from an earlier version that gave regulatory powers to the Ministry of Industrialisation, Mines and Energy, a change that has drawn parliamentary concerns about reduced oversight of the natural resource sector.

    2 September 2026 · The Namibian →

Friday 21 August

  1. Namibia must prepare citizens for oil development ahead

    Namibia has made significant offshore oil discoveries but has not yet begun commercial production. Before counting potential revenue, the country needs serious national dialogue about resource ownership, development, government revenue, realistic expectations, and preventing an oil boom from becoming a resource curse—but Namibians currently lack sufficient understanding of the industry.

    21 August 2026 · Windhoek Observer →

Thursday 20 August

  1. Chevron sells stake in Namibian oil block to Equinor

    Harmattan Energy Limited, a Chevron subsidiary, has agreed to farm out a 17.4 percent participating interest in Petroleum Exploration License 90 in Namibia's Orange Basin to Equinor Energy International AS. The transaction is subject to pre-emption rights and regulatory approvals, with an exploration well scheduled before year-end.

    20 August 2026 · Informanté →

  2. 4th Namibia Oil and Gas Conference concludes with sector focus

    The Namibia Oil and Gas Conference 2026 brought together over 1,500 delegates, more than 120 speakers, and over 70 exhibitors to discuss the country's emerging petroleum sector and its contribution to national development, with discussions centred on investment, local content, enterprise development, skills, infrastructure, and financing.

    20 August 2026 · Informanté →

  3. Cabinet approves Namibia's upstream petroleum local content policy

    Namibia's Cabinet has approved the National Upstream Petroleum Local Content Policy, designed to increase Namibian participation across the petroleum value chain through local business development, employment, skills transfer, and procurement access. The government aims to move from exploration to production between 2026 and 2030, prioritising local employment, suppliers, and skills development.

    20 August 2026 · Windhoek Observer →

Wednesday 19 August

  1. Minister urges Namibia to prepare for oil production, maximise local benefits

    At the Namibia Oil and Gas Conference 2026, Honourable Modestus Amutse, Minister of Industries, Mines and Energy, called on Namibia to be ready for first oil and to maximise local benefits from the industry, addressing discoveries in the Orange Basin.

    19 August 2026 · The Namibian →

  2. Namibia outlines oil and gas benefits strategy

    Special Advisor Kornelia Shilunga outlined Namibia's vision for converting oil and gas sector decisions into national benefits at the Namibia Oil and Gas Conference 2026.

    19 August 2026 · The Namibian →

  3. Namibia's procurement reform seeks speed without sacrificing accountability

    Namibia's revised public procurement regulations, which came into operation on 4 August 2026, give over 80 public entities greater scope to undertake procurement independently, aiming to reduce administrative delays and improve service delivery. The success of the reform will depend on implementation rather than the regulations themselves, balancing efficiency with transparency and accountability.

    19 August 2026 · Windhoek Observer →

  4. Namibia revises procurement thresholds, expands entity participation

    More than 80 public entities gain broader procurement authority under Namibia's revised regulations effective August 4, 2026, aimed at reducing administrative delays, decongesting central procurement, and expanding supplier opportunities. The changes raise procurement thresholds to reflect current economic conditions including inflation and currency depreciation.

    19 August 2026 · Windhoek Observer →

  5. ReconAfrica ships equipment for Kavango West horizontal test

    Reconnaissance Energy Africa has acquired additional pumps, a swabbing unit, and other equipment in the United States for testing at the Kavango West 1X well in northeastern Namibia. The equipment will support a planned horizontal test to assess the production potential of the Huttenberg reservoir, following the recent flow of natural gas and potential liquids to surface from the formation.

    19 August 2026 · Windhoek Observer →

  6. Namibia Oil and Gas Conference convenes for fourth edition

    The Namibia Oil and Gas Conference and Exhibition officially began on 18 August 2026 in Windhoek (18–20 August), bringing together government, industry leaders, investors, academia, entrepreneurs and civil society to focus on ensuring Namibia's oil and gas growth creates opportunities for local businesses, entrepreneurs, workers and communities.

    19 August 2026 · Informanté →

Monday 17 August

  1. Namibia must own stake in oil finds, not just supply services

    An opinion piece argues that Namibia should prioritize equity ownership in its oil discoveries—particularly Venus, Graff, and Mopane in the Orange Basin—rather than limiting itself to local-content arrangements that only provide wages and services, contrasting this approach with Norway's wealth-building model.

    17 August 2026 · The Namibian →

Sunday 16 August

  1. FNB expands banking agents in Khorixas to seven locations

    FNB Namibia has expanded its local banking network in Khorixas from two merchants in 2017 to seven CashPlus agents and seven Cashback merchants, allowing residents to withdraw cash, make deposits, and access eWallet services at retailers including Shoprite, Choppies, Caltex, and NamCor without traveling to Outjo or Otjiwarongo.

    16 August 2026 · Windhoek Observer →

Sunday 9 August

  1. Namibian energy executive nominated for Africa's top infrastructure list

    Shiwana Ndeunyema has been nominated for the 2026 Top 100 Influential Africans in Infrastructure by Powered by Africa, recognised for his leadership in energy, infrastructure governance and national policy. The nomination highlights his 15 years of professional experience and 10-month tenure as Interim Managing Director of NAMCOR amid Namibia's major offshore oil discoveries.

    9 August 2026 · Namibian Sun →

Friday 7 August

  1. Former Namcor manager challenges Prosecutor General's jail appeal bid

    Cornelius Cedric Willemse, arrested in July 2025 in connection with an over N$400 million fraud and embezzlement case at the National Petroleum Corporation of Namibia, has filed an application to stop the Prosecutor General's attempt to appeal against his bail grant. Willemse faces 10 charges including corruption and money laundering.

    7 August 2026 · Informanté →

Saturday 1 August

  1. Namibia has only 45% of skills needed for oil boom

    A report by the Namibia Investment Promotion and Development Board and the International Labour Organization warns that Namibia currently has only about 45% of the skills required to support its emerging oil and gas sector, with major offshore discoveries by Shell, TotalEnergies, and Galp Energia expected to drive first oil production around 2029 or 2030. The report highlights a mismatch between skills produced by local education and training institutions and the specialized competencies demanded by the industry.

    1 August 2026 · Informanté →

Friday 31 July

  1. Namcor backs fourth Namibia Oil and Gas Conference

    The National Petroleum Corporation of Namibia has reaffirmed its support for the fourth Namibia Oil and Gas Conference scheduled for 18–20 August, with discussions focused on investment, industry collaboration, and the future of Namibia's emerging oil and gas sector.

    31 July 2026 · The Namibian →

  2. IPC demands transparency on Namibia's offshore petroleum deals

    The Independent Patriots for Change has called on the government and state-owned Namcor to provide full transparency on Namibia's offshore petroleum developments, particularly regarding Galp's transaction with TotalEnergies, which received regulatory approval in July. The IPC emphasised that Namcor's financial obligations, development exposure, and revenue expectations must be clarified.

    31 July 2026 · Windhoek Observer →

NAMCOR — Namibian press coverage · Namibia Minute