Appointment of Victoria Sibeya as Namcor Managing Director

Victoria Sibeya has been appointed as the seventh managing director of Namibia's state oil company, Namcor, in the past three years. She is a well-known figure in the country's oil and gas sector, having worked at Namcor since 2006 and served as temporary managing director last year. Her appointment comes after a period of instability at the company, following the suspension of former managing director Immanuel Mulunga in 2023 and his dismissal in August 2024. He was succeeded by Lionel Matthews, Shiwana Ndeunyema, Ebson Uanguta, Maureen Hinda-Mbuende, and most recently Mtundeni Ndafyaalako, who held the role on an interim basis until a permanent appointment was made.

Sibeya's Background and Qualifications

Sibeya has held the position of executive of upstream exploration at Namcor since April 2019. She holds an MBA from the University of Aberdeen in the UK, an MSc in Geology from the University of Namibia, and a BSc Honours in geology from the Nelson Mandela Metropolitan University. Additionally, she has served as secretary for the Africa region of the American Association of Petroleum Geologists and is currently a trustee at Petrofund, a Namibian organization focused on building local capacity in the upstream sector.

Board's Confidence and Strategic Vision

In a statement issued on 1 July, Namcor announced that Sibeya will lead the company for a five-year term. The board expressed full confidence in her ability to provide the necessary leadership to navigate Namcor through the current energy landscape and position the organization for sustainable growth. As Namibia enters a transformative era in its energy sector, the board believes that her strategic and ethical leadership will strengthen Namcor's role in advancing national energy security, commercial resilience, and long-term value for all stakeholders.

Market Speculation and Future Outlook

Market discussions over the past few months had suggested that Maggy Shino, who was removed from her role as Namibia's petroleum commissioner last month, was being considered for the top role at Namcor. However, it remains unclear whether she has a future in the country's oil and gas administration following Sibeya's appointment.