Connie Van Wyk, CEO of Enercon and one of the key figures implicated in the ongoing legal investigations involving NAMCOR, was granted bail of N$50,000 on Friday afternoon following the State’s withdrawal of its objection.
Van Wyk, whose company and board of directors face several charges including allegations of embezzling millions of dollars from Namibia’s National Petroleum Corporation (NAMCOR), had been in custody since his arrest nearly two weeks ago alongside co-accused Austin Elindi.
This decision marks the second instance in which prosecutors have dropped their opposition to bail in this high-profile case. Just last week, Lydia Elindi, another accused party, was also released on bail under similar financial conditions.
The case continues to unfold as investigations into the alleged financial misconduct at NAMCOR proceed.
