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Namcor face liquidation threats over N$13 million debt
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November 20, 2023November 20, 2023Uncategorized

Namcor face liquidation threats over N$13 million debt

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A joint venture has threatened the National Petroleum Corporation of Namibia (Namcor) with a liquidation process if its debt of N$13 million is not settled. The joint venture, comprising Ndakalimwe Investments and Revival Construction and Engineering, was contracted to construct a high-density polyethylene pipeline at Walvis Bay in January. The venture is, however, yet to...

NAMFISA updates on the Air Namibia Retirement Fund liquidation
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October 6, 2023October 6, 2023Uncategorized

NAMFISA updates on the Air Namibia Retirement Fund liquidation

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Press Release 1. Air Namibia (Pty) Limited, the Participating Employer in the Air Namibia Retirement Fund, was wound up on 31 March 2021. The Air Namibia Retirement Fund Rules (“the Rules”) indicate that the fund should be liquidated if the employer is liquidated. Therefore, when the employer was liquidated, the fund had to be liquidated...