Rédaction Africa Links 24 with Timo Shihepo
Published on 2024-04-10 17:00:00
Former National Petroleum Corporation of Namibia (Namcor) commercial manager Olivia Dunaiski has come under scrutiny for allegedly approving transactions worth N$28 million to her new employer, Erongo Petroleum CC. This has raised concerns about potential conflicts of interest and irregularities in the handling of funds within the national oil company.
Erongo Petroleum CC is owned by businessman Austin Elindi, who is also involved in another military fuel supply entity called Enercon. Namcor is currently pursuing Erongo Petroleum CC for owing the state oil company N$120 million, while also taking Enercon to court for failing to repay around N$60 million.
Dunaiski’s resignation from Namcor in September 2023 coincided with an investigation into her approval of the N$28 million transaction to Erongo Petroleum CC without proper authorization. Sources suggest that this transaction took place despite Namcor imposing a moratorium on dealing with companies in arrears.
It has been reported that Dunaiski, along with other former Namcor managers, authorized oil deals exceeding Erongo Petroleum CC’s credit limit of N$10 million, totaling over N$28 million. This prompted Namcor to initiate an investigation and subsequently led to the resignation of Dunaiski and other implicated managers.
Shortly after leaving Namcor, Dunaiski was hired by Erongo Petroleum as an executive for sales and marketing, raising further questions about potential conflicts of interest. While the company’s owner, Austin Elindi, denied any wrongdoing, stating that they employ qualified Namibians regardless of their previous affiliations, the situation has drawn attention to ethical concerns within the industry.
Namcor’s spokesperson confirmed ongoing legal proceedings related to the case but refrained from providing further details to allow for an independent judicial process. Meanwhile, court documents revealed a dispute between Erongo Petroleum and United Africa Group, with the former owing over N$100 million for unpaid oil supplies.
The involvement of Enercon, labeled by Namcor as a sham and fraud, has added complexity to the situation. The company, owned by the Elindi brothers and August 26 Holdings, had a contract to supply fuel to the Ministry of Defence and build oil depots. However, a disputed transaction with Namcor led to financial complications and ongoing legal battles.
Dunaiski, along with other former Namcor employees, has been implicated in problematic dealings during their time at the national oil company. While they have denied any wrongdoing, the case highlights the need for accountability and transparency in the management of public funds.
The allegations against Dunaiski shed light on a recurring issue of executives transitioning from parastatals to private companies they had dealings with, raising concerns about regulatory oversight and ethical standards. Ultimately, the case underscores the importance of upholding integrity and accountability in the oil and gas industry to protect public interests and prevent potential conflicts of interest.
Read the original article on The Namibian
