Hertta-Maria Amutenja
Former National Petroleum Corporation of Namibia (Namcor) executive Cedric Willemse told the Windhoek Magistrate’s Court on Wednesday that his involvement in the fuel supply agreement between Namcor and Enercon Namibia was limited to an advisory role and that he was warned not to make decisions on the transaction.
Willemse testified on Wednesday during his bail application before Magistrate Olga Muharukua.
He explained that the project owners of the Enercon deal were Namcor’s sales and marketing team.
“The project owners of this deal between Enercon and Namcor were the sales and marketing team. I was guiding the team if necessary. The managing director asked me to have an advisory role. Though he cautioned me that it’s not my duty to be part of this, and I should make any decisions, as it’s the role of the marketing and sales team,” Willemse said.
Willemse told the court that the process leading to the potential purchase of assets from Enercon began in mid-May 2022.
At that time, the then managing director of Namcor, Immanuel Mulunga, instructed the executive for engineering and technical services, Nestor Sheefeni, together with engineering manager Michael Aipanda, to conduct an asset verification and valuation exercise.
The assets under consideration included pumps, tanks, canopies, and other bulk fuel storage equipment.
He said that without the verification of assets, the purchase could not have proceeded.
“In the industry you have to verify if the assets do exist and in what condition the assets are as well as what the value of the assets is,” Willemse testified.
“If no due diligence was done, the purchase agreement would not have been concluded.”
Willemse emphasised that his role did not extend to drafting documents or conducting due diligence. He clarified that due diligence only came after asset verification and valuation, as this process informed the price of the assets to be acquired.
He explained further how the process unfolded: once asset verification was complete, a project feasibility model would be drawn up to assess the outcome and profitability of the potential acquisition.
“Then the project feasibility model is done. Once the feasibility model is done, one would look at the outcome of the project feasibility model. The task was then for the sales and marketing team to write a memo,” he told the court.
According to him, the feasibility model was prepared by Namcor financial analyst Sam Hasheela and not by him. Willemse said the purpose of the feasibility model was to determine whether the assets and supply volumes would generate profits for Namcor Trading within the projected period.
He made it clear that he had no involvement in preparing the feasibility study, drafting the contract, or physically inspecting the assets.
“I was not involved in the drafting of the contract or physically going to wherever these assets are to see if they exist. I was also not involved in drafting the feasibility study,” he said.
Willemse reiterated that his contribution was limited to guidance when requested, and he maintained that key responsibilities for drafting documents, carrying out due diligence, and recommending the deal rested squarely with the sales and marketing team.
His testimony sought to establish that his role was restricted and that he was explicitly cautioned by the managing director not to overstep into decision-making functions.
He maintained throughout his evidence that his part in the Enercon deal was advisory, while technical and financial responsibilities were handled by other teams within Namcor.
The bail application continues in the Windhoek Magistrate’s Court.
