Iuze Mukube 

An ACC chief investigating officer Oberty Inambao yesterday reinforced the State’s stance that Enercon ‘sold dreams’ to Namcor. 

He said Enercon failed to deliver assets paid for by the national oil company. 

Testifying during the ongoing bail hearing, investigating officer Inambao detailed how Namcor made payments to Enercon under the belief that they were acquiring valuable assets. 

However, he argued that those assets were never handed over. 

Inambao said, despite the acquisition of the said assets, it was business as usual because Enercon continued supplying fuel to the defence ministry after having sold those assets. 

He said the investigation reveals that, until today, Namcor has never enjoyed or received any benefits from that acquisition. 

“This begs the question as to why these assets were sold to Namcor in the first place,” he stated. 

He said that when the assets were acquired, they were listed in the purchase offer as far as the nature and description of what Namcor was buying. 

However, there was no trace of the promised goods or services. 

Inambao said that investigations established that there was a misrepresentation that was made by Peter Elindi and Malakia Elindi by not disclosing that Namcor could not take ownership of the assets it was buying. 

The officer pointed out that when the offer was made, Enercon had ample time to specify what exactly it was selling to Namcor, but it did not, which made Namcor suffer an actual loss of N$53.2 million. 

Inambao pointed out that Enercon did not sell anything to Namcor to date – and if that is the case, it used part of the N$53 million to offset their accumulated debt by paying N$35 million to Namcor. 

He stated that Namcor never took ownership of any assets. 

This was allegedly enabled by Immanuel Mulunga, who bypassed all procedures to have that contract signed. 

Inambao pointed out that if the oil company never took ownership of the assets it intended to buy, there was no agency in not following the procedures. 

Inambao stated that “Mulunga was well aware of this acquisition from the time he started planning to buy the assets in May 2020 until he was suspended in April 2022. He failed to report this to the board of Namcor or the acquisition of assets. 

“Evidence has also shown that there was a conspiracy, meaning there was a plan between Enercon’s two directors, the Elindi brothers, who accepted the offer and subsequently signed the offer together with Mulunga, Cornelius Willemse, Jennifer Hamukwaya and Olivia Dunaiski”. 

Inambao elaborated that nothing was done because Namcor had entered into the agreement to buy assets, which they did not use or own. 

However, Enercon continued as though it was business as usual to supply fuel to the defence minister and use the assets they sold to Namcor Trading. 

It was also revealed that the total value of the fuel that was not paid for by the two entities, Enercon and Erongo Petroleum, was a little over N$277 million, which was allegedly enabled by Willemse, Jennifer and Dunaiski. 

Inambao testified that fuel deliveries were made despite the absence of government purchase orders, which were a condition for supply. 

The matter continues in the Windhoek Magistrate’s Court. 

–mukubeiuze@gmail.com