06
Jul
Hertta-Maria Amutenja The National Petroleum Corporation of Namibia (Namcor) remains in financial trouble despite receiving a N$1.2 billion government bailout in April 2024. The company confirmed that liquidity problems persist and more support may be needed to settle outstanding debts. Namcor’s board and management said the bailout was used to access commercial loans, which were mostly used to pay off overdue creditors. “Liquidity challenges remain persistent, and support may be required to clear the remaining long outstanding creditors balances,” the company stated. By March 2024, Namcor’s total debt stood at N$3.3 billion. The bailout helped reduce this to N$1.6 billion.…
