Namcor never issued breach notice or took legal steps – Elindi

Fraud-accused businessman Peter Elindi, represented by prominent defence lawyer Sisa Namandje, told the court yesterday he was never issued a written breach notice from Namcor, despite now facing serious criminal charges for allegedly failing to comply with a fuel supply agreement signed in March 2022.Investigations by the Financial Intelligence Centre (FIC) traced several business transactions, including more than N$60 million allegedly secretly paid by the national oil company Namcor, under the pretext of acquiring fuel storage assets, to private bank accounts belonging to some of the nine Namcor-Enercon accused.Brothers Peter and Malakia Elindi, originally the principal private shareholders of Enercon, were arrested in connection with the controversial fuel deal that reportedly left Namcor exposed to over N$380 million in unpaid debts. The arrests follow High Court orders placing both Enercon Namibia and Erongo Petroleum CC under provisional liquidation due to ballooning arrears.During his formal bail application, which began on Monday before the Windhoek Magistrates’ Court, Namandje led Elindi through the relevant sections of the supply agreement between Namcor and Enercon, the company Elindi chaired at the time.The lawyer specifically asked Elindi whether he had ever received a written notice which provides that, upon a breach, the aggrieved party must notify the defaulting party in writing and allow 14 working days to remedy the breach before cancelling the agreement or claiming damages. “No, sir. Not to the best of my recollection," Elindi answered. No written correspondenceNamandje pressed further, asking whether Namcor had ever informed Elindi or Enercon that payments had been made into the wrong account, or whether they had been instructed to comply in future.Elindi responded: “Not that I can remember.” When asked whether it may have happened, Elindi again replied in the negative. Namandje continued, asking whether, as chairman of Enercon, Elindi had ever been alerted through a written notice in terms of Clause 14.2 that he was not complying with the agreement’s clauses. Elindi answered, “No, sir. Not that I can remember, no.”No legal threats The lawyer then asked whether Namcor had ever pursued civil proceedings against Enercon in relation to this specific agreement, such as a claim for specific performance or damages, as permitted by the contract. Elindi replied again: “No, sir.” He also confirmed that no case had ever been lodged in the High Court or Magistrates’ Court in connection with the agreement presented by the State.Namandje further pointed out that, although the State alleges non-compliance between March and December 2022, Namcor neither cancelled the agreement nor issued any notice of breach during that period.When asked if he knew why Namcor allowed the agreement to continue despite the alleged breach, Elindi replied: “I don’t know, sir.”Among the accused are several former Namcor executives: ex-managing director Immanuel 'Imms' Mulunga; former acting head of supply and logistics Cornelius 'Cedric' Willemse; former commercial manager Olivia Dunaiski; former chief financial officer Jennifer Hamukwaya and her husband Panduleni Hamukwaya; as well as Elindi’s brother Malakia and his wife Lydia Elindi. Also charged is businessman Leo Nandago Stefanus.nikanor@nmh-hub.com.na

Namcor never issued breach notice or took legal steps – Elindi

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Namibian Sun 2025-09-01

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Namcor never issued breach notice or took legal steps – Elindi

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Namibian Sun 2025-09-01

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