THE board of the National Petroleum Corporation of Namibia has reappointed Immanuel Mulunga as the state-owned fuel company’s managing director for another five years.
Board chairperson Jennifer Comalie made the announcement on Friday.
“The managing director has the full support of the board to implement the business plan,” Comalie said. “As you might be aware, his five-year employment agreement with Namcor came to an end on 30 September 2020. The board diligently deliberated on the way forward, and after taking all factors into consideration, we have resolved to extend Mr Mulunga’s contract for another five years effective [from] 1 October.”
She highlighted progress made by Namcor under Mulunga’s management, saying the company set up four service stations in the downstream space. Another four are under construction, with four more planned during Namcor’s current financial year.
“According to our retail master plan, we want to have at least 33 service stations across the country by the end of 2024 to cement our brand presence in Namibia,” said Comalie.
Other achievements include the signing of a multibillion-dollar contract with Husab Mine and successfully supplying the Botswana market with fuel.
On the upstream, she said, Namcor has successfully farmed out two exploration licences to ExxonMobil and will now focus on the acquisition of production assets internationally.
Mulunga thanked the board for trusting him with the contract extension.
“Namcor is well on its way to greatness, and we plan to continue on this growth trajectory to become self-sustaining in the near future,” he said.
