Staff Writer
Namcor Trading and Distribution (Pty) Ltd, a subsidiary of the National Petroleum Corporation of Namibia (Namcor), sued its former commercial manager, Olivia Dunaiski, six months after she resigned, over an unpaid education loan of N$152,460.27.
Court documents seen by the Windhoek Observer show that Namcor approached the High Court of Namibia to cancel the education loan agreement for financial assistance and recover the outstanding amount, with interest at 10.25% per annum from 10 October 2023, plus legal costs.
The matter has since been settled. Dunaiski admitted owing the amount and agreed to repay it in monthly instalments of N$10 000 starting on 7 October 2024 until the full amount is paid.
The agreement states that payments must be made without deductions into a Namcor-designated account and that the original loan agreement is cancelled.
If Dunaiski defaults, Namcor may demand immediate payment of the remaining balance along with accumulated interest and legal fees.
The company can issue a written demand, including by email, giving her seven days to fix the breach.
If she fails, Namcor may obtain judgement for the full amount, supported by a certificate of balance as proof of the debt.
Both parties attested to their voluntary entry into the settlement, their understanding of its terms, and their representation by legal practitioners.
The loan was granted in 2022 for Dunaiski to pursue a Master of Business Administration at Stellenbosch Business School. She resigned from Namcor on 8 September 2023 before completing her required service period.
In April 2024, reports indicated that Dunaiski had joined Erongo Petroleum CC, a company she allegedly approved irregular transactions for while at Namcor. She reportedly authorised, without approval, a N$28 million transaction for Erongo Petroleum.
Dunaiski is also among six accused in the N$480 million Namcor corruption and fraud case. She was denied bail in the Windhoek Magistrate’s Court along with her co-accused last month.
She was arrested in July on charges of fraud, money laundering, and violating the Anti-Corruption Act.
The state also claims Namcor suffered losses when Enercon and Erongo Petroleum exceeded their credit limits while buying fuel and failed to pay for it.
Caption
Olivia Dunaiski
-Photo: File
