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Hertta-Maria Amutenja Businessman Malakia Elindi, who is worth N$118 million, claims his arrest could cost him to lose N$18 million in a mining deal with a foreign investor. Malakia, one of the accused in the Namcor corruption and bribery case, made this revelation during his ongoing bail application in the Windhoek Magistrates Court this week. He told the court that he was about to finalise an investment agreement for uranium (EPL 8289) through his company, Zoya Minerals CC, when he was arrested. “I was also in pain with the timing of the arrest. I was just on the verge of…

Allexer Namundjembo The former minister of agriculture, water and land reform, Mac-Albert Hengari, said the complaint in the rape case against him requested N$10 000 from him to pay a police officer to make the case disappear. He said this on Monday during his formal bail hearing at the Windhoek Magistrates Court before magistrate Monica Andjaba on Wednesday. “The complainant requested N$10 000 to apparently pay a policeman to make the case go away,” Hengari told the court. Hengari said there was a meeting that took place at a law firm in Windhoek at the complainant’s request. Present at the…

Justicia Shipena Businessman Peter Elindi told the Windhoek Magistrates’ Court on Monday that he should not be blamed for the National Petroleum Corporation of Namibia (Namcor)’s internal asset valuation, which the state claims was flawed. “It’s not my problem if they did a bad job,” Peter said in his evidence-in-chief with his lawyer, Sisa Namandje. Elindi was testifying in his bail application in the ongoing N$480 million Namcor corruption and bribery case. He distanced himself from a valuation conducted by Namcor’s engineering and technical department, which the state has labelled a “sham”. Namandje referred to court documents alleging that the…

Justicia Shipena Some of the funds misappropriated in the Namcor corruption and bribery case were used to finance operations of a company owned by the son of one of the Elindi brothers. This was revealed in court as the state laid out charges against Leo Nandago Stefanus, one of the accused in the high-profile money laundering and corruption case involving millions of dollars. The state alleges that the funds were used to support the activities of Erongo Petroleum CC and Quality Supplies CC.  Erongo Petroleum is owned by Austin Elindi, son of businessman Peter Elindi, who has also been arrested…

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…

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.…