Namcor’s managing director Immanuel Mulunga was recently quoted in media reports saying that Namibia’s 10 percent stake in Recon Africa’s exploration is of no use

Eba Kandovazu THE Popular Democratic Movement (PDM) says it is against the proposed plans of the National Petroleum Company of Namibia (NAMCOR) to sell half of its 10 percent stake in the petroleum exploration license (PEL 73) in the Kavango Basin to Reconnaissance Energy Africa (ReconAfrica) for N$414 million. Namcor's managing director Immanuel Mulunga was recently quoted in media reports saying that Namibia’s 10 percent stake in Recon Africa’s exploration is of no use and therefore they decided to turn five percent of their stake into shares, to enable Namcor to trade on the stock exchange to generate an income.…