Niël Terblanché
The Ministry of Finance and Public Enterprises has announced the appointment of a new board of directors for the National Petroleum Corporation of Namibia (NAMCOR), effective from 1 July 2024.
Iipumbu Shiimi announced the appointment of the new board on Friday.
In his announcement, Shiimi stated that the new board is expected to bring stability and strategic direction to the company, which has recently been embroiled in multiple controversies and financial investigations.
The minister said that the new board is tasked with navigating these complexities and restoring confidence in NAMCOR.
The newly appointed board members are Florentia Amuenje, Board Chairperson, Tersia Gowases, Deputy Board Chairperson, Godfrey Ngaisiue, Oscar Capelao, Anna Libana, and Trophimus Hiwilepo.
Shiimi expressed confidence in the new board’s ability to steer the company towards achieving its strategic goals and enhancing its role in Namibia’s energy sector.
The newly appointed board members are Florentia Amuenje, Board Chairperson. She is a seasoned professional coach and HR executive with extensive experience in strategy development and implementation.
Tersia Gowases, Deputy Board Chairperson, is an IT expert with international education and a holder of a US patent.
Godfrey Ngaisiue is a geophysicist with more than 20 years of experience in the mining industry.
Oscar Capelao is a chartered accountant and deputy executive director in the Ministry of Finance and Public Enterprises.
Anna Libana, who is an expert who specializes in petroleum regulations and energy management and Trophimus Hiwilepo, who is a business and IT professional with more than 25 years of experience in the oil industry.
Over the past year and a half NAMCOR has been under scrutiny following a series of troubling events involving the previous board and its management.
The controversies include the suspension of Managing Director Immanuel Mulunga pending an investigation into a N$100 million payment for Angolan oil blocks.
This payment was made without board approval and has raised concerns about governance and financial management within NAMCOR.
Another plaguing issue was NAMCOR’s involvement in a N$60 million deal with Enercon, which failed due to objections from the defence ministry.
The failure to repay this amount has led to financial strain and further investigations.
Over the past year, the relationship between the board and management has been fraught with tension.
Issues of poor governance, lack of trust, and micromanagement have been cited as key problems, exacerbating the company’s operational challenges.
Another tumultuous event occurred during the arrest last year of Board Chairperson, Jennifer Comalie for possession of illicit drugs, an incident believed to be timed to interfere with board proceedings, including the suspension of Mulunga.
Amuenje, the incoming chairperson, during the announcement, stressed the importance of ethical leadership and good governance.
“Our focus will be on rebuilding trust, ensuring transparency, and driving NAMCOR towards a sustainable and prosperous future,” she said.
According to Amuenje, the new board’s success will be critical in addressing past issues and setting NAMCOR on a path to stability and growth in the competitive energy sector.
