UPDATE: Immanuel Mulunga, the former Managing Director of the National Oil Corporation of Namibia (NAMCOR), will only appear tomorrow in the Windhoek Magistrate’s Court after his arrest yesterday following a sting operation by the Anti-Corruption Commission in the capital. Mulunga was arrested alongside former NAMCOR employees, such as former financial officer Jennifer Hamukwaya and former supply and logistics manager Cornelius Cedric Willemse. It is alleged that two more individuals were also arrested yesterday. NAMCOR has said that during Mulunga’s tenure, which ended in August 2024, it experienced several governance lapses which led to questionable deals, the loss of its stock, and the overextension of credit facilities to politically connected entities, leaving the institution in bad debt of over N$400 million. Photos: File/NAMCOR
