A bank wants to seize a N$2-million Mercedes-Benz that belongs to a company owned by Victor Malima, a fugitive businessman who is wanted for his role in the National Petroleum Corporation of Namibia corruption scandal.
Malima’s Eco Trading CC owes Bank Windhoek N$2.9 million, a debt that started accumulating when Malima allegedly fled to Angola last July to avoid prosecution.
The debts stem from an overdraft facility and a financing agreement Malima used to buy a Mercedes-Benz, both through his company Eco Trading CC.
The bank yesterday issued a combined summons in two newspapers, giving Malima 10 days to oppose its motion.
“[The bank informs] the defendant further that if he fails to file notice of intention to defend, judgement as claimed may be given against him without further notice,” the summons reads.
Bank Windhoek has been pursuing Eco Trading CC and Malima since the end of 2025. The first debt was a financing agreement to buy a luxury SUV Mercedes-Benz.
Eco Trading, with Malima standing surety, bought the N$2-million car in 2022. The car should have been paid off by 2028, through monthly payments of N$20 000.
Malima began missing payments on 1 August, just weeks after he allegedly fled to Angola to avoid an Anti-Corruption Commission probe into his role in defrauding the National Petroleum Corporation of Namibia (Namcor).
“The first defendant [Eco Trading] has been in default of such payment for a period of more than 30 days,” the summons reads.
If Malima does not respond or pay the outstanding N$1.06 million and interest, the bank has the right to repossess the car.
The second debt is an overdraft facility that was set up with Bank Windhoek in January 2025. This allowed Eco Trading to borrow up to N$2.9 million from the bank, an agreement that expired in March last year. In September, the bank began requesting repayment, but letters went unanswered.
Malima is accused of facilitating massive fuel supply contracts and credit lines from Namcor for a company called Enercon without due diligence.
In the court case against top Namcor executives, the state accuses the executives of taking bribes in order to approve those transactions.
Malima allegedly gave former Namcor chief executive Imms Mulunga a car to thank him for his role in the Enercon deal.
Malima allegedly fled the country to Angola in mid-July and is the only major suspect in the Namcor corruption case that has not been captured.
His fugitive status has complicated Bank Windhoek’s efforts to reclaim money owed to it.
Bank Windhoek had already issued a combined summons in January this year, but it could not be served as Malima could not be found.
According to the legal debt recovery manager appointed to the case, Collins Omalu, the deputy sheriff could not find representatives of Eco Trading at its registered address.
“[Bank Windhoek’s] legal representative appointed tracers to locate the first respondent [Eco Trading],” Omalu says in his August affidavit.
The third-party tracers could obtain no information about the company or Malima from Nampost, Telecom, or social media.
“Please take note that the Namibian Police is also looking for your debtor,” the tracers’ report says.
“[Bank Windhoek] has thus not been able to serve the combined summons on [Eco Trading] to date because [it] cannot be located and is further evasive,” Omalu says.
The bank therefore asked the High Court to allow substituted service, such as notices in newspapers, after which it can enforce its contractual rights against Malima and his company.
