Former Namcor MD Immanuel Mulunga arrested in ongoing ACC corruption investigation

Windhoek, 8 July 2025 – The Anti‑Corruption Commission (ACC) has arrested former National Petroleum Corporation of Namibia (Namcor) Managing Director Immanuel Mulunga at his Klein Windhoek residence, part of a broader corruption investigation involving senior officials, ACC Director-General Paulus Noa confirmed today.

Mulunga, alongside three other former Namcor executives and an additional private individual, is being investigated for alleged misuse of public funds and governance breaches during his tenure. Noa declined to release specific charges, saying formal charges will be revealed following Mulunga’s court appearance scheduled for tomorrow.

Background

A N$123 million payment in 2022 to Sungara Energies, a joint venture between Namcor, Angola’s Sonangol, and Sequa Petroleum, received board approval for only N$10 million—but Mulunga allegedly authorised the full amount.

A N$53 million purchase of fuel storage assets from Enercon, now linked to the Ministry of Defence, raised governance concerns as Enercon may not have had legal ownership.

Mulunga was previously cleared by the ACC in July 2023 over a N$100 million payment, but new evidence prompted this latest action.

Implications for Namcor and governance

The company has faced increased pressures, including a N$1.2 billion government guarantee issued in April 2024 to offset trading losses and internal governance failures. Namcor’s board and the ACC are calling for accountability. Noa warned that “others” implicated in money laundering and corruption could be arrested. “We don’t care if they work for Namcor or not…as long as you’re implicated, we will deal with you,” he stated.

Mulunga’s first court appearance is expected to outline the specific charges. This case adds urgency to calls for stricter governance, transparency, and oversight in state-owned enterprises.

Namcor is central to Namibia’s energy security and economic framework. Allegations of mismanagement undermine public trust and could strain government support, potentially leading to stronger reforms in procurement, financial oversight, and board accountability.

The post Former Namcor MD Immanuel Mulunga arrested in ongoing ACC corruption investigation first appeared on Future Media News.

The post Former Namcor MD Immanuel Mulunga arrested in ongoing ACC corruption investigation appeared first on Future Media News.