The State has objected to granting bail to Austin Elindi and Connie Van Wyk, who were arrested on Monday by the Anti-Corruption Commission (ACC) in connection with the alleged NAMCOR multi-million dollar corruption scandal.

The two made their first appearance at the Windhoek Magistrate's Court this morning.

Austin Elindi owns Erongo Petroleum, a company said to owe NAMCOR over N$200 million.

The allegations are that he was in cahoots with former NAMCOR top management and defrauded the parastatal. 

Van Wyk, the co-accused, is the Chief Executive Officer of Enercon, an entity also listed in the fraud charges following the purchase of assets by NAMCOR from Enercon.

The assets were said to have already belonged to the Ministry of Defence.

The two join nine other accused persons in the matter.

Like those who were previously arrested, the two face charges under the Anti-Corruption Act and the Prevention of Organised Crime Act (POCA).

The State alleges the syndicate, including Austin Elindi, his father Peter Elindi, his uncle Malakia Elindi, and others, defrauded NAMCOR of about N$480 million.

Also arrested are former NAMCOR Managing Director Immanuel Mulunga, the company's former Finance Executive, Jennifer Hamukwaya, and former Logistics Executive Cedric Willemse.

State Prosecutor Menencia Hinda indicated that the bail hearings for the two will not be combined with those already underway.

The bail hearing for the eight accused will continue before Magistrate Linus Samunzala on Friday, while Austin and Van Wyk will also appear separately on Friday for fixing of dates for their bail hearing.