UPDATE: State Prosecutor Advocate Basson Lilungwe has said that the State will be appealing against a judgment which granted bail to Namcor fraud and corruption-accused former Logistics and Supply Manager Cedric Willemse (52), who was granted bail in the amount of N$200,000 by Magistrate Olga Maharukua. The State is expected to submit its notice of appeal next week, which will set out the grounds on which it is fighting against the bail granted. Willemse is accused of receiving bribes of over N$3 million from several petroleum entities in exchange for the facilitation of a bogus asset deal and credit fraud, which cost the State entity Namcor losses of over N$400 million.
