The National Petroleum Corporation of Namibia (NAMCOR) and its Board have resolved to terminate the employment contract of its Managing Director, Imms Mulunga, effective immediately.

In a statement released this evening, the company announced that "the Board deliberated extensively on a case of misconduct involving Mulunga; following these deliberations, the Board resolved to terminate Mr. Mulunga’s contract of employment."

The Board further says that it "considers the misconduct by the Managing Director to be of serious nature, warranting this decisive action."

The Board has assured its stakeholders of its dedication to ensuring a smooth leadership transition and upholding NAMCOR’s commitment to governance and ethical standards. 

These latest developments come after a disciplinary hearing headed by Judge Gerhard Maritz cleared Mulunga of fraud and breach of the employment contract and found him not guilty for his role in a controversial oil deal for an oil block in Angola.