Hertta-Maria Amutenja
Former National Petroleum Corporation of Namibia (Namcor) executive Kornelius ‘Cedric’ Willemse told the Windhoek Magistrate’s Court that his wealth was built from personal investments and not from funds derived from the oil company.
He made the statement during his bail application before Magistrate Olga Muharukua, saying that although he held senior positions at Namcor, his assets and businesses did not originate from the company.
Willemse outlined his current financial situation, stating that before his arrest he earned about N$250 000 a month, plus N$95 000 from businesses in South Africa and his Namcor salary.
“Since my detention I have been earning around 150 000 a month, which covers most of my expenses,” he said.
He told the court that he supports his twin daughters, aged 20, who are university students, and his 29-year-old daughter, who became unemployed after he advised her to resign and offered to cover her salary.
He said he stopped supporting her about a year ago when his finances started to decline.
Willemse also testified that he employs five workers at his farm and that his detention has disrupted business operations, with meat sellers at Havana halting sales and parking the trailer he used for trading.
He added that one of his tenants has refused to pay rent, claiming the property was obtained through fraudulent activities.
Willemse said he pays N$15 000 monthly to the Agricultural Bank of Namibia (Agribank) for his farm, with an annual repayment of about N$800 000 due in November.
“That is two months from now, which I still hope to find,” he said.
He warned of a possible liquidation if his financial position does not improve, saying he could lose four flats in Rehoboth, used as collateral for the loan. Losing the flats would cost him about N$16 000 a month in rental income.
Willemse told the court that at the start of his appointment at Namcor, he wanted to declare his business interests and alternative income but was advised against it by then managing director Immanuel Mulunga.
He said that before joining Namcor as a permanent employee, he had already invested in several business ventures.
He owns multiple businesses and properties, including three farms, one of which has since been sold. He farms with oryx, springbok, pigs, and other animals and also owns four flats in Rehoboth purchased in 2016.
On his role at Namcor, Willemse testified that he had no direct dealings with commercial clients.
“I was not dealing with customers like Enercon, Erongo Petroleum or any other customers like retail service station owners or fishing companies. Those are the customers Namcor was dealing with. I don’t deal with those customers. Some I don’t even know. I don’t have a relationship with the owners of Enercon,” he said.
The bail application continues.
