Former Nedbank boss Lionel Matthews’ three day stint as Namcor acting managing director is linked to failed salary negotiations and conflict of interests concerns.
Namcor offered N$230 000 per month for half a year, but Matthews allegedly told the board the salary was way short of the N$350 000 he earned per month at Nedbank Namibia as managing director.
Sources familiar with the matter said the negotiations were also “made difficult” after The Namibian reported on Matthews being listed as an adviser to a politically connected consortium that won a N$1 billion contract to build, finance, operate and maintain oil depots for the national oil company.
Matthews has now pulled out of the race to be the acting Namcor chief.
He was set to take over as the acting Namcor managing director on 12 April to replace Immanuel Mulunga who was suspended on 4 April.
Despite this announcement, the board and Matthews never reached a salary package agreement.
He allegedly did not go to the office on 12 April and only showed up on 13, 14 and 17 April, despite not signing a contract. On 18 April, he left the country on private business and communicated his job withdrawal to the Namcor board.
Subsequently, he did not go to the office on Monday and yesterday.
Matthews confirmed to The Namibian yesterday that he is no longer interested in the Namcor job.
“Thanks for your enquiry. I really have no more comments to make on this matter. Much appreciated,” Matthews.
Namcor also yesterday confirmed that Matthews is no longer in the running to become acting managing director as negotiations reached a deadlock, and Matthews has pulled out of the discussions.
“We can confirm that the negotiation was unsuccessful. The reasons are unclear at this time. We will do our best to keep all stakeholders updated,” Namcor spokesperson Paulo Coelho told The Namibian.
Namcor executive for business strategy Shiwana Ndeunyema will continue to serve as acting managing director until further notice.
“The Namcor board hereby announces that its negotiations with Matthews for his possible recruitment as interim acting managing director were unsuccessful,” the Namcor board of directors said in a statement released yesterday.
Namcor has been a theatre of drama since last month, including concerns about widespread corruption and politically backed power struggles.
The position of acting managing director has been vacant since the suspension of Mulunga on 4 April, following a power struggle between Mulunga and a powerful faction linked to Namcor board chairperson Jennifer Comalie.
Comalie did not respond to questions sent to her yesterday.
Comalie’s faction won the battle to remove Mulunga, and approached Matthews who appeared to be their favoured candidate.
But they had a problem: Matthews appeared to be conflicted.
He has been a centre of media attention including a report by The Namibian detailing that Matthews is listed as an adviser to a consortium that won a N$1 billion contract to build, finance, operate and maintain oil depots for the national oil company he is now leading.
Matthews was listed as a transactional adviser for a consortium called Fullbright Investments and Omahooli Solutions, which has been selected as the preferred bidder for the Namcor tender that involves the construction, operation, and maintenance of Namcor fuel storage facilities at Ondangwa, Gobabis and Windhoek for 15 to 20 years.
Had Matthews accepted the job, he could have been involved in enforcing that same tender during his six months tenure at Namcor.
Mathews’ role in this transaction involves several politically connected individuals who benefited from the controversial N$7 billion oil storage facility and the Ongos Valley housing project in Windhoek.
It’s unclear if Matthews will continue working for Monasa Advisory and Associates and Fulbright after his brief stint at Namcor.
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