Former deputy finance minister Maureen Hinda-Mbuende is set to take over as acting managing director of the National Petroleum Corporation of Namibia (Namcor) – despite resistance from the company’s board.
The Namibian understands that minister of industries, mines and energy Natangue Ithete recommended Hinda-Mbuende, citing her corporate experience.
However, sources say the board, chaired by Florentia Amuenje, has raised concerns about the move, viewing it as political interference.
Hinda-Mbuende, who served as deputy finance minister from 2015 to 2020 and has acted as managing director of City Savings and Investment Bank, declined to comment this week.
“Unfortunately, I cannot comment on that, thank you,” she said.
The board had been in the final stages of appointing a managing director after advertising the post in January, but the process was abruptly halted in March after Ithete took office.
Sources claim the minister directed the board to stop the recruitment process to pave the way for a candidate of his choice – now understood to be Hinda-Mbuende.
Tensions between the minister and the board deepened after the directors rejected a proposal by a Ghanaian company to take over Namcor’s debt, citing the high interest rates involved.
The deal, which Ithete supported, followed meetings between government officials and companies in Sweden, Norway, Ghana and the Democratic Republic of Congo.
The board’s refusal reportedly angered the minister.
Neither Ithete nor Amuenje responded to questions sent to them this week.
Namcor remains embroiled in the high-profile ‘Fuelrot’ scandal, with allegations that around N$480 million was siphoned from the state-owned oil company through inflated fuel contracts, unpaid supplies, and kickback schemes.
Prosecutors allege the scheme involved a network of senior Namcor officials and private business people.
Those charged include former Namcor managing director Imms Mulunga, ex-supply and logistics manager Cedric Willemse, ex-chief financial officer Jennifer Hamukwaya, former commercial business manager Olivia Dunaiski, and brothers Peter and Malakia Elindi.
Other members of the Elindi family, including Lydia and Austin Elindi, are also facing charges, as well as fugitive Victor Malima.
The accused are linked to companies such as Enercon Namibia, Erongo Petroleum CC and several other entities which were allegedly used to channel illicit funds and secure irregular fuel supply deals.
