Twenty Namcor fraud and money laundering accused plead not guilty
Twenty accused persons including former Namcor executives and businessmen appeared in Windhoek Magistrate's Court and pleaded not guilty to fraud, corruption, and money laundering charges ranging from one to 75 counts. The matter was postponed to 28 October 2026 pending the Prosecutor General's decision on whether to proceed to trial; the accused were arrested in July 2025 following allegations they defrauded Namcor of over N$400 million.
Twenty individuals and companies accused of defrauding Namcor of over N$400 million have pleaded not guilty, setting the stage for a high-profile trial that will test accountability in Namibia's state-owned petroleum sector. The case involves allegations of systemic abuse of credit policies and the sale of assets that already belonged to the government, striking at the heart of public resource management.
21 April 2026 · Informanté →