insert_link Business / Economics NamCor signs MoU with Gambian oil company The National Petroleum Corporation of Namibia has signed a Memorandum of Understanding with the Gambia National Petroleum Corporation to collaborate and strengthen both organisations, according to NamCor's interim managing director, Ebson Uanguta. today22 August, 2024
insert_link Namibia Government’s N$1.2 Billion Lifeline Channels Directly to Namcor’s Creditors and Suppliers The government's infusion of N$1.2 billion to stabilize the National Petroleum Corporation of Namibia has taken an unconventional route, bypassing direct cash injection to settle Namcor's debts. Instead, the bailout funds were disbursed directly to Namcor's suppliers and creditors last month, as confirmed by Namcor spokesperson Utaara Hoveka. This strategic move alleviates Namcor's financial burden, providing a crucial lifeline to prevent potential liquidation. The bailout, facilitated by a sovereign guarantee, […] today15 May, 2024
