Magistrate Linus Samanzula has postponed the bail hearing for the nine people charged in the NAMCOR matter to tomorrow. Some of the accused filed their bail applications on Monday, but the hearing could not proceed as planned.

At the start of the bail hearing, Peter Elindi was the first in the witness stand. 

The focus was on Enercon's fuel station transactions, disputed ownership, and allegations of money laundering. 

Elindi, the former chairperson of Enercon, told the court he had no direct involvement in the company's payments or financial operations, saying those were managed by the company's accountant. 

He denied any wrongdoing, claimed he had no relationship with fugitive businessman Victor Malima of Eco Trading, and maintained that the business transactions between Enercon and Eco Trading were legitimate and commercial. 

The prosecution, led by Basson Lilungwe, alleged that Eco Trading was paid N$9 million by Enercon following the N$53 million payment Enercon received for the sale of nine fuel stations. 

The State argued that part of those funds was laundered, including a payment of N$960,000 made to co-accused Cedric Willemse, which was deposited into Willemse's personal account. 

Peter Elindi told the court he had no knowledge of the Willemse transaction. 

During cross-examination, Elindi admitted that he was not the sole owner of Enercon, prompting the prosecution to suggest that August 26, a state-owned company, owned 50 percent of Enercon and that Elindi lacked authority to sell it.

Elindi's legal representative, Sisa Namandje, countered that retired Brigadier James Auala had signed off on the deal on behalf of August 26. 

The prosecutor also questioned Elindi about whether he was aware that directors can be prosecuted under law for actions involving company funds. 

Elindi declined to answer. 

The prosecution argued that the case involves public money and that the public outcry is based on concern over accountability. 

Elindi, in response, said the outcry was driven by misinformation and reiterated that he had cooperated with law enforcement, handed himself over to the Anti-Corruption Commission, and surrendered his passport. 

Throughout the hearings, Elindi repeatedly told the court he could not recall how often Enercon conducted business with Eco Trading, saying only that the companies dealt with each other "from time to time." 

The court also took note of a financial disclosure submitted by Malakia Elindi on Thursday listing a net asset value of N$34.7 million in properties, vehicles, and investments. 

 The matter will resume tomorrow.