Court orders Elindi brothers to pay N$28m to DBN
A Namibian High Court judge has ordered the Elindi brothers to pay N$28.8 million to the Development Bank of Namibia. The judgment follows a dispute over unpaid loans linked to their former fuel company, Enercon Namibia.
Why it matters
This ruling represents a significant recovery effort for a state-owned financial institution involved in a high-profile corruption case.
Businessmen and brothers Peter and Malakia Elindi, who are facing charges in the Namcor fraud and corruption case, must pay N$28.8 million to the Development Bank of Namibia (DBN), a judge of the Windhoek High Court has ordered.
The article provides a factual account of court proceedings and the bank's claims without editorializing.
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