BUSINESS

Ex-Namcor board rejected advice to ‘arbitrarily’ sack Mulunga

Old board rejected dismissal without hearing

Having failed to convince the old board, company lawyers fed the same cocktail to new directors, who swallowed it hook, line and sinker.

STAFF REPORTER

3 Month Ago - 2024-08-13 01:55:00

The previous board at Namcor had rejected legal advice from company lawyers to fire managing director Imms Mulunga in relation to a N$53 million transaction between the company and ...

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Namibian Sun 2024-11-14

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Katima Mulilo: 19° | 26° Rundu: 21° | 33° Eenhana: 20° | 31° Oshakati: 19° | 30° Ruacana: 21° | 30° Tsumeb: 21° | 31° Otjiwarongo: 20° | 32° Omaruru: 22° | 34° Windhoek: 20° | 31° Gobabis: 20° | 33° Henties Bay: 16° | 24° Wind speed: 21km/h, Wind direction: SW, Low tide: 07:50, High tide: 02:03, Low Tide: 20:23, High tide: 14:15 Swakopmund: 16° | 18° Wind speed: 16km/h, Wind direction: W, Low tide: 07:48, High tide: 02:01, Low Tide: 20:21, High tide: 14:13 Walvis Bay: 15° | 23° Wind speed: 21km/h, Wind direction: W, Low tide: 07:48, High tide: 02:00, Low Tide: 20:21, High tide: 14:12 Rehoboth: 20° | 34° Mariental: 21° | 36° Keetmanshoop: 22° | 37° Aranos: 21° | 36° Lüderitz: 18° | 28° Ariamsvlei: 22° | 39° Oranjemund: 14° | 25° Luanda: 25° | 26° Gaborone: 18° | 30° Lubumbashi: 16° | 29° Mbabane: 12° | 28° Maseru: 14° | 26° Antananarivo: 15° | 31° Lilongwe: 20° | 29° Maputo: 17° | 30° Windhoek: 20° | 31° Cape Town: 15° | 23° Durban: 16° | 24° Johannesburg: 14° | 26° Dar es Salaam: 25° | 31° Lusaka: 18° | 25° Harare: 16° | 25° Currency: GBP to NAD 23.13 | EUR to NAD 19.26 | CNY to NAD 2.52 | USD to NAD 18.28 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.29 | EGP to NAD 0.36 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.66 | ZWL to NAD 0.04 | BRL to NAD 3.14 | RUB to NAD 0.18 | INR to NAD 0.22 | USD to DZD 133.43 | USD to AOA 910.98 | USD to BWP 13.62 | USD to EGP 49.26 | USD to KES 129.2 | USD to NGN 1687.57 | USD to ZAR 18.27 | USD to ZMW 27.35 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1851.79 Down -1.41% | Casablanca Stock Exchange (CSE) MASI 14678.1 Up +0.19% | Egyptian Exchange (EGX) 30 Index 31433.01 Down -0.47% | Botswana Stock Exchange (BSE) DCI 9879.51 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 562.43/OZ DOWN -0.0033 | Copper US$ 4.02/lb DOWN -0.0107 | Zinc US$ 2 931.50/T DOWN -1.65% | Brent Crude Oil US$ 72.28/BBP UP +0.06% | Platinum US$ 930.10/OZ DOWN -0.0019 Sport results: Weather: Katima Mulilo: 19° | 26° Rundu: 21° | 33° Eenhana: 20° | 31° Oshakati: 19° | 30° Ruacana: 21° | 30° Tsumeb: 21° | 31° Otjiwarongo: 20° | 32° Omaruru: 22° | 34° Windhoek: 20° | 31° Gobabis: 20° | 33° Henties Bay: 16° | 24° Wind speed: 21km/h, Wind direction: SW, Low tide: 07:50, High tide: 02:03, Low Tide: 20:23, High tide: 14:15 Swakopmund: 16° | 18° Wind speed: 16km/h, Wind direction: W, Low tide: 07:48, High tide: 02:01, Low Tide: 20:21, High tide: 14:13 Walvis Bay: 15° | 23° Wind speed: 21km/h, Wind direction: W, Low tide: 07:48, High tide: 02:00, Low Tide: 20:21, High tide: 14:12 Rehoboth: 20° | 34° Mariental: 21° | 36° Keetmanshoop: 22° | 37° Aranos: 21° | 36° Lüderitz: 18° | 28° Ariamsvlei: 22° | 39° Oranjemund: 14° | 25° Luanda: 25° | 26° Gaborone: 18° | 30° Lubumbashi: 16° | 29° Mbabane: 12° | 28° Maseru: 14° | 26° Antananarivo: 15° | 31° Lilongwe: 20° | 29° Maputo: 17° | 30° Windhoek: 20° | 31° Cape Town: 15° | 23° Durban: 16° | 24° Johannesburg: 14° | 26° Dar es Salaam: 25° | 31° Lusaka: 18° | 25° Harare: 16° | 25° Economic Indicators: Currency: GBP to NAD 23.13 | EUR to NAD 19.26 | CNY to NAD 2.52 | USD to NAD 18.28 | DZD to NAD 0.14 | AOA to NAD 0.02 | BWP to NAD 1.29 | EGP to NAD 0.36 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.66 | ZWL to NAD 0.04 | BRL to NAD 3.14 | RUB to NAD 0.18 | INR to NAD 0.22 | USD to DZD 133.43 | USD to AOA 910.98 | USD to BWP 13.62 | USD to EGP 49.26 | USD to KES 129.2 | USD to NGN 1687.57 | USD to ZAR 18.27 | USD to ZMW 27.35 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1851.79 Down -1.41% | Casablanca Stock Exchange (CSE) MASI 14678.1 Up +0.19% | Egyptian Exchange (EGX) 30 Index 31433.01 Down -0.47% | Botswana Stock Exchange (BSE) DCI 9879.51 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 562.43/OZ DOWN -0.0033 | Copper US$ 4.02/lb DOWN -0.0107 | Zinc US$ 2 931.50/T DOWN -1.65% | Brent Crude Oil US$ 72.28/BBP UP +0.06% | Platinum US$ 930.10/OZ DOWN -0.0019