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NAMCOR demands over N$4 million from retailer

NAMCOR demands over N$4 million from retailer

Samuel Shinedima

THE National Petroleum Corporation of Namibia (NAMCOR) has filed a court case against Bigday Investment CC, claiming N$4.2 million from the retailer after failure to pay for fuel supply and rental fees at NAMCOR’s Hosea Kutako International Airport Service Station.

Bigday Investment CC is owned by Anthony Abrahams.

According to NAMCOR, it had agreed to supply 190 000 to 250 000 litres per month to the retailer on a credit facility, which the retailer was obliged to pay the supplier after sales.

NAMCOR’s Hosea Kutako International Airport Service Station. Photo: Oye Creative Studio

It is alleged that Bigday failed to make such payments, which escalated to an outstanding amount of N$3,441,887.27 for the fuel supplied by NAMCOR during the period under concern.

It is further alleged that Bigday did not pay the monthly rent of N$30 000 for nine months, the shop turnover fee of 6% for five months, and a royalty fee of 4% for six months, which adds up to N$686,263.82

On June 14 2021, NAMCOR cancelled the supply agreement, subject to the contract’s terms and conditions, and terminated its lease agreement with Bigday Investment CC.

NAMCOR appealed that while the two entities entered into a Written Dealer Agreement in August 2019, the retailer did not comply with its obligations in terms of the credit facility and the fuel supply agreement since then.

The corporation claims interest on N$3,441,887.27 and N$686 263.81 at the rate of 20% from 31 June 2021, which is the alternative date of the summons, to the date of final payment.

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