Africa-Press – Namibia. THE National Petroleum Corporation of Namibia (Namcor) board was yesterday set to discuss possible action against managing director Immanuel Mulunga, who is accused of making an unauthorised N$100 million payment to an Angolan partner.
Sources claim this would have been part of the steps to suspend and/or charge Mulunga.
However, these plans were halted yesterday after a Namcor director was arrested in connection with drug dealing.
The suspect was set to be interviewed for the Development Bank of Namibia chief executive officer position today.
The arrest took place shortly before Namcor’s planned board meeting.
Sources yesterday said drugs were found in a takeaway lunch box under the seat of the suspect’s car.
Concerns among her associates exist that the move was part of a plot to silence her.
The suspect’s associates yesterday said she recalls giving her keys to a Namcor employee on Friday.
This came after the employee claimed she parked in the wrong spot, and that her car needed to be moved.
Police officers approached the suspect yesterday, demanding to unlock her vehicle.
The suspect apparently initially played down requests to unlock her vehicle.
She was, however, confident about her innocence and opened the vehicle, sources said.
The suspect was told to look under the seat of her car, where drugs were discovered.
MARCHING ORDERS
Speculation was rife over the weekend that the board was set to suspend Mulunga, as well as his right-hand man, Cedric Willemse.
Namcor’s head of finance, Jennifer Hamukwaya, was already given marching orders after the board last month refused to renew her five-year contract.
The N$100 million Angolan oil deal was one of the issues that landed Hamukwaya in hot water.
Hamukwaya is currently challenging her removal.
THE TRANSACTION
Mulunga’s main problem is related to the transfer of N$100 million which the board said was not approved.
The transaction under investigation relates to oil-producing blocks in Angola, involving Namcor and Angola’s state-owned oil company, Sonangol.
Last April, Namcor, Sequa Petroleum from Britain, and Petrolog Group formed a group called Sungara Energies.
This joint venture agreed to pay N$8 billion (US$451 million) to Sonangol P&P for a 10% interest in block 15/06, 40% working interest in block 23, and a 35% working interest in block 27.
The consortium was supposed to pay N$400 million (US$22,6 million) as a deposit fee to Sonangol Petroleum within five business days after receiving the conditions.
Namcor agreed to pay US$10 million (N$170 million) toward the deposit.
However, the partners only paid US$6 million (N$102 million), leaving a shortfall of US$6,7 million (N$100 million).
It is unknown which partner failed to pay.
Mulunga then took the transaction to Namcor’s board on 19 August 2022, but the board allegedly rejected the proposal to pay the N$100 million.
It appears Mulunga went ahead to finalise the transaction without their blessing.
Mulunga last week said the payment was made to save the deal.
“Our partners are to be blamed. They were supposed to pay their part of the deposit and couldn’t do it on time.
“So we deposited the extra funds into our account in Mauritius and went to the board for approval to pay it over to Sonangol,” Mulunga said.
“And while we were waiting for the approval our partners paid the money over to Sonangol. If the deposit was not paid on time we would’ve lost the transaction.”
Sources said the money was allegedly paid to a Mauritian bank account and not to Angola, where Sonangol is based.
CLASH
Mulunga yesterday told The Namibian he is not aware of potential suspension.
“There was already an investigation done, and I believe the investigation report was up for discussion at the board meeting. I don’t have any information that I was gonna be charged, you can ask the board that.”
Minister of finance and public enterprises Iipumbu Shiimi yesterday said he is aware of the Namcor saga.
“I am aware of the investigation that is currently underway mentioned in the print media last week. I am, however, not aware of the suspension of some members of the management,” he said.
The police told the media yesterday that they arrested a Namcor board member.
Police spokesperson, deputy commissioner Kauna Shikwambi confirmed the arrest.
Shikwambi said that the suspect will appear in the Windhoek Magistrate’s Court today.
“The suspect was arrested at Namcor following intelligence led information. The investigation is ongoing,” she said.
According to police spokesperson Elifas Kuvinga, the board member was found in possession of 935 grams of cannabis, 60 units of crack cocaine, and 10 grams of cocaine powder.
The power struggle at Namcor was widely reported last week, focusing on the transaction in question and the clash between Namcor’s board chairperson, Jennifer Comalie, and Mulunga over the control of the state-owned oil company.
Mulunga is accused of turning a blind eye to allegations against one of Namcor’s influential executives.
Comalie is accused of interfering in operational matters after she instructed Mulunga to act fast on a dispute involving a friend of hers – also a businessman.
She is also accused of pushing Namcor into a hydrogen deal despite concerns from managers about the terms of the partnership.
Comalie last week confirmed to The Namibian that the board has started investigating an investment by Namcor in Angola, which some see as a positive deal, but Namcor’s decision to pump additional money into it on behalf of third parties was not approved by the board.
“The board is dealing with this matter. And yes, there is an investigation which is being carried out internally together with two other partners, but it is not yet done. This is all I can say for now,” she said.
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