TIRI MASAWI
National Petroleum Corporation of Namibia (Namcor) executive Victoria Sibeya has been approved by the Cabinet to become the company’s next managing director, ending years of leadership uncertainty at the state-owned oil company.
Sibeya currently serves as Namcor’s executive for upstream exploration.
Her appointment as managing director, which comes with a monthly basic salary of N$230 000 is effective 1 July.
The appointment is expected to be announced officially by government spokesperson and information and communication technology minister Emma Theofelus and the Namcor board.
Secretary to Cabinet Emilia Mkusa yesterday confirmed to Namibia Business Review that Sibeya had received Cabinet’s endorsement.
“I can confirm that the issue was discussed in Cabinet and yes, she was endorsed to take over, but that is as much as I can give you. If you want more, speak to the minister of information and communication technology,” Mkusa said.
Sibeya referred the questions to Namcor spokesperson Utara Hoveka.
“I confirm receipt of your query about the appointment of a managing director at Namcor. That process is led by the board of directors and the line minister (of industries, mines and energy). Be rest assured that the board will pronounce itself on the outcome of the process once it is finalised,” Hoveka said.
The recruitment process was completed in March, after the board finalised interviews and submitted its recommended candidate to the line ministry.
Industries, mines and energy Minister Modestus Amutse said last week that the process had been concluded and was awaiting final approval.
“The interviews were concluded and the final short list was chosen. The board has submitted the final name of the leading and other candidates to my office. We will soon have this issue approved by the Cabinet,” Amutse said.
TRANSITION
Sibeya previously served as acting managing director from April to August 2025, leading the company during a key transition period.
She will replace former managing director Immanuel Mulunga, who led Namcor for nine years before being dismissed. Mulunga is now facing corruption-related charges together with other former executives.
The case involves 71 criminal counts, including fraud, racketeering and corruption, linked to allegations involving more than N$480 million.
END OF REVOLVING LEADERSHIP
Namcor has had several acting managing directors over the past three years.
- Shiwana Ndeunyema served from April 2023 to January 2024.
- Lionel Matthews, former Nedbank Namibia managing director, followed but quit after nine days.
- Bank of Namibia Governor Ebson Uanguta served from January 2024 to March 2025.
- Maureen Hinda-Mbuende led the company from August 2025 to February 2026.
- Mtundeni Ndafyaalako has been acting managing director since March 2026.
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