Allexer Namundjembo
The Anti-Corruption Commission (ACC), which last year praised former Namcor managing director Immanuel ‘Imms’ Mulunga for saving the company and the country, has now arrested him on potential corruption-related charges.
His arrest, according to sources, stems from a 2023 oil transaction involving N$100 million, which led to his suspension and eventual dismissal.
Mulunga was arrested on Tuesday afternoon at his home in Klein Windhoek.
ACC director general Paulus Noa confirmed the arrest and said further arrests are expected.
“He is yet to be charged. Mind you, he is not the only one; there are others. There could be around four for now; this is an ongoing operation,” Noa said. “Any arrest cannot come for nothing, but I am not ready to share with you details now because someone arrested did not yet appear in court.”
The transaction under investigation involved a N$100 million payment to Sungara Energies, a joint venture between Namcor, Sequa Petroleum, and Petrolog Group, for shares in two Angolan oil blocks.
The payment was reportedly made on behalf of Sequa and was not approved by Namcor’s board.
Last year, ACC said there was no evidence of corrupt intent, despite Mulunga acting without board approval.
In July 2023, ACC publicly stated that Mulunga had saved NAMCOR and the country for doing this.
At the time, it had cleared him of wrongdoing after investigating the transaction.
This followed a summon for him to provide documentation on the matter.
The case has now resurfaced amid broader concerns about governance and the handling of public funds.
Reports indicate that the arrests also include three other members of Namcor’s management and one private individual.
Before his arrest, the Windhoek Observer approached Mulunga for comment on new claims by Namcor’s current board linking him to financial losses at the company. He declined to respond.
Namcor has since issued a statement distancing itself from Mulunga and the arrests.
“At this stage, we wish to confirm that none of the individuals in question are employed by Namcor in any capacity. The company is not in a position to speculate or comment on the details of the charges or ongoing legal proceedings,” Namcor said.
Namcor acknowledged the recent developments but declined to comment on the legal process, as law enforcement is handling it.
“We assure our stakeholders, partners and the public that this matter does not impact Namcor’s current operations or business integrity,” it stated.
This week, Namcor disclosed that it is seeking between N$700 million and N$800 million to settle a N$1.1 billion debt it attributes to Mulunga’s tenure.
His legal team has not yet issued a statement, and the ACC has not released further details on the possible charges.
Separate from the oil transaction, Mulunga is also being sued by a medical doctor over an unpaid N$50,000 loan.
