Namcor top job: Goalposts shifted in the middle of the match

Namcor has defended its decision to issue a second job advertisement for the position of managing director with revised and lowered requirements. The company explained that the initial advertisement did not attract enough applications.The original advert required applicants to have a bachelor’s degree in petroleum engineering/allied engineering/geological engineering or a related technical and engineering field of study.In addition, applicants were expected to have an MBA or master’s degree in leadership or a related field as well as 15 years of post-qualification experience in upstream oil and gas and at least seven years in an executive management position.The applicant was also expected to have three to five years of project management experience.However, these requirements were changed after Namcor placed a new advert on its social media platforms this week. Applicants are now only expected to have a relevant master’s degree in business, leadership or sciences from a recognised tertiary institution at NQF level 9 and relevant experience in the energy, oil and gas sector.The applicant is still required to have at least seven years of executive management experience along with three to five years of project management experience.Allegations have been made that the requirements were lowered to align them with existing qualifications of specific individuals that Namcor board members may have in mind for the role. Bigger poolNamcor board chairperson Florentia Amuenje has dismissed these claims, saying the decision to amend the requirements was based on the limited applications received and to appeal to a larger pool of potential candidates.“The Namcor board considered the limited applications that had been coming in during an official board meeting and resolved to realign the criteria to appeal to a larger talent pool,” Amuenje told Namibian Sun.“This was done in the spirit of inclusiveness and to provide a wider audience pool of Namibian leaders to apply through a transparent and fair process. As a board, we are of the opinion that the initial requirements were too restrictive, resulting in a rather slow response. It was against this background that the board resolved to review and modify the requirements.”When asked how much influence she personally had in changing the requirement, Amuenje said the decision was taken collectively.“The matter was served before the board’s human resources committee as well as the entire board. The decision to modify the requirements was taken after inputs from individual board members,” she explained. “The process is being conducted fairly. To strengthen its integrity, the board enlisted the services of an external recruitment agency to oversee the exercise.”Angolan oil deal ‘still on’Amuenje was also asked about the current status of the Namcor deal to purchase a stake in an oil block in Angola, owned by that country’s state oil company Sonangol.Namcor, together with its joint venture partners Sequa Petroleum and Petrolog Group, paid N$524 million for the oil block. The amount is a far cry from the total of N$8 billion required to successfully conclude the deal.“The process is at an advanced stage. We are, however, bound by confidentiality agreements between us and the Angolan national oil company Sonangol and thus not in a position to [provide] detailed information at this stage,” said Amuenje.She said a media release will be issued regarding developments on this specific transaction within the first quarter of this year.“As a board, we remain firmly committed to our fiduciary duties to act in the best interest of the organisation and the shareholder,” she added. Namcor has been without a managing director since August last year after the dismissal of Immanuel Mulunga.Mulunga was suspended in April 2023 after he transferred N$123 million from a Namcor account to the joint venture company to acquire the Angolan oil block. The transaction was not approved by the board, leading to Mulunga losing his job. -kenya@nmh-hub.com.na

Namcor top job: Goalposts shifted in the middle of the match

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Namibian Sun 2025-04-25

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Namcor top job: Goalposts shifted in the middle of the match

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Namibian Sun 2025-04-25

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