ACC probe into Namcor’s spending habits leads to stunning revelations

In February 2024, Anti-Corruption Commission (ACC) investigative officer Oberty Inambao received a tip-off from within the National Petroleum Corporation of Namibia (Namcor) audit board that former Namcor supply chain and logistic executive Cedric Willemse’s, spending habits were questionable.

The spending habits of Willemse, which included luxury vehicles like a Jeep Gladiator valued at about N$1.4 million, a Mercedes-Benz GLE 400 SUV valued at more than N$2 million, and expensive cocktails, are now believed to be the reason for the probe into his alleged self-enrichment and the misappropriation of over N$480 million in state funds.

Inambao told magistrate Linus Samunzala that the ACC followed the money trail.

Someone within Namcor believed people in the company were depositing large sums of money in their personal bank accounts and sent ACC the tip in April 2023.

Inambao said he began investigating Enercon and Erongo Petroleum’s relationship with Namcor in August 2022 and May 2023.

He also said on 18 July 2022, former Namcor managing director Imms Mulunga corruptly abused his position and office by entering the company into a toxic relationship with Enercon.

“The relationship was toxic because Mulunga entered Namcor into an asset purchase agreement with Enercon without following the Namcor internal financial procurement policies and budget policies,” he testified.

“An acquire asset offer on 8 July 2022 was made and accepted by Enercon’s Peter and Malakia Elindi [which] was made by Mulunga in his capacity as managing director and accountant. Mulunga in this offer made it clear that he intends to buy the assets evaluated by the engineering team, evaluation team and commercial offer,” Inambao added.

A contract was also prepared by Namcor’s legal department. This contract was signed by directors of Enercon on 15 July 2022 for N$53 million.

The agreement accompanied a directive that the money would be paid in two separate transactions and that N$35 million would be paid into an account which Jennifer Hamukwaya was a signatory of.

This, the investigator testified, was a tip-off by the chairperson of the audit and finance committee. At this point, he said, Namcor had just conducted an internal investigation and “something was just off”.

Allegedly, Namcor’s board was not even aware of the acquisition of the new assets.

“This asset agreement did not fall out of thin air. There was another storm brewing between Namor and Enercon, the entanglement through a tantalising fuel supply agreement.

“Mulunga and his team did not stumble on just supplying the Enercon fuel without getting anything in return,” he said.

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