Former Namcor commercial manager Olivia Dunaiski has agreed to repay over N$152,000 in unpaid study loan funds to the National Petroleum Corporation of Namibia (NAMCOR). This arrangement follows her arrest in July 2025 on charges related to a significant corruption scandal involving the state-owned entity.
According to a settlement agreement reached in October 2024, Dunaiski acknowledged owing N$152,460.27 to NAMCOR and committed to repaying the amount in monthly instalments of N$10,000 until the debt is fully settled. The loan was initially granted in 2022 to support her Master of Business Administration (MBA) studies at Stellenbosch Business School. Dunaiski resigned from NAMCOR in September 2023 before completing her required service period.
In addition to the financial settlement, Dunaiski faces serious criminal charges. She was arrested as part of a broader investigation into a corruption syndicate that allegedly defrauded NAMCOR of approximately N$560 million through fraudulent fuel transactions. The Anti-Corruption Commission (ACC) apprehended several individuals, including former NAMCOR executives and private sector figures, on charges ranging from fraud and money laundering to racketeering and tax evasion.
During her bail application, Dunaiski denied any wrongdoing, asserting that she had no authority to approve credit limits or engage in fraudulent activities. She claimed that any payments received were for legitimate consulting services unrelated to NAMCOR’s operations. Despite her assertions, the court denied her bail, citing the seriousness of the charges and the substantial public interest in the case.
