Portuguese consulting company MJV Group is demanding that Namibian company ISF Trading Enterprises pay it €145 000 (approximately N$3.6 million).
The debt is linked to consultancy services provided by MJV Group during preparations for the Walvis Bay Green Energy Complex.
MJV Group chief executive Ana Rodrigues has issued a demand letter to the directors of ISF Trading, following an alleged failure by the company to settle invoices for consultancy and facilitation work conducted between November 2024 and January 2025.
“This is a formal demand for payment of a debt currently due and payable by ISF Trading Enterprises to MJV Group in the amount of €145 000. Despite previous requests, the company has failed, neglected or refused to settle the outstanding amount,” says Rodrigues.
In an email to the Portuguese ambassador in Namibia on 4 February, Rodrigues requested assistance in identifying the individuals responsible for ISF Trading and the company’s legal representative.
“Full payment of the debt was promised on 8 December 2025, but no payment has been received, nor has any further communication been provided,” Rodrigues says.
The consulting company also issued a press release on 20 February stating that a failure by ISF Trading to respond to the demand within 21 days creates a legal presumption of insolvency.
“We have attempted all diplomatic channels to resolve this debt, but the directors have ceased all communication. This ‘ghosting’ behaviour raises serious questions about the transparency and financial capacity of a group entrusted with national strategic projects,” says Rodrigues.
ISF Trading, led by executive chairman James Links, announced plans for the Green Energy Complex in 2025, which includes a 300 000-barrels per stream day modular oil refinery, a 500MW renewable energy power plant and a 4 000m3 per day desalination plant at Walvis Bay.
According to invoices and a work report, the services included strategic planning with Chinese investors, coordination with Portuguese banks, daily client meetings, a legal review of contracts and support for MT799 issuance, a banking instrument facilitating international investment.
The work report indicates that the consultancy involved “extensive legal, financial and operational expertise, near-daily coordination and high-level involvement over a three-month period”, with the total amount including a supplementary premium and accrued interest reaching €122 000 (N$3 million).
In May 2025, MJV Group and ISF Trading signed an international consulting agreement.
The contract outlines MJV Group’s role in facilitating the introduction of investors to acquire a 1% equity share in Dune Seven Energy, arranging issuance of banking instruments totalling US$10 million and providing strategic support throughout the process.
The agreement included exclusivity clauses and provisions for interest on late payments at 10% per month.
ISF Trading Enterprises, through its legal representatives Tjitemisa & Associates, has rejected the claims made by MJV Group.
“Our client does not accept that it is indebted to Ana Rodrigues or any entity associated with her on the basis alleged, or at all. While Rodrigues issued an invoice, her company failed to comply with its contractual obligations, resulting in a material breach that disentitles her to the fees claimed,” says Edwin Coetzee of Tjitemisa & Associates.
Coetzee says the company indicated that, without admitting liability, it would consider facilitating payment of the disputed invoice as a gesture of commercial goodwill.
“Our client has, on numerous occasions, clearly explained its position to Rodrigues and/or her å, including the reasons why the fees claimed are disputed and the basis for any conditional goodwill offered,” he says.
Regarding the demand issued by MJV Group, ISF says it disputes the alleged indebtedness and had not been properly served with a valid statutory demand.
The Walvis Bay Green Energy Complex refinery will initially process imported crude oil, transitioning to locally sourced crude by 2027 to 2028, while the associated renewable energy and desalination facilities aim to support sustainable operations.
The project has received conditional land allocation from the Walvis Bay Town Council.
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