Cedric Willemse received a total of N$150,000 from Quality Meat Supplies into his personal bank account on the same day the contract of sale of assets was signed between Enercon Namibia and NAMCOR, ACC investigator Oberty Inambao told the court.
Former NAMCOR Managing Director Immanuel Mulunga told the court that one of the reasons he lost his job was due to an error in the reallocation of funds used to purchase assets from Enercon for N$53 million.
The Development Bank of Namibia (DBN) has taken Enercon Namibia and its directors to the High Court to recover over N$28 million in unpaid loans.
According to court documents, the amount relates to two loan agreements signed between DBN and Enercon.
The National Petroleum Corporation of Namibia (NAMCOR) has taken legal action against Enercon Namibia, seeking its liquidation over an unpaid debt totalling N$114,663,026.50 as of November 2023.
The High Court is seized with an urgent application by Namcor seeking the liquidation of Enercon Namibia over the outstanding debt of over N$70 million arising from a breach of the Fuel Supply Agreement between the two companies.
