Home Economy Namibians to cash in millions for fish

Namibians to cash in millions for fish

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Following the Namibian treasury announcement last week declaring that the country was to rake in over N$627 million, Namibians are anxiously waiting to hear the final outcome on auctioned governmental objective fish quota.

In his speech, finance minister Iipumbu Shiimi announced that government is set to generate over N$627 million from the 83 392 metric tons of fish that was sold to the highest bidder. The announced figures, includes the application fees that were received during the bidding process. This follows an announcement earlier where the Government revealed its intention to auction the governmental objective quota to both local and international bidders.

60% was offered to the highest international bidders while the remaining 40% was reserved for local operators.

Finance ministry spokesperson Tonateni Shidhudhu said many successful bidders are keen on taking up the offer after signing contracts with the ministry. It is so far not confirmed whether all successful bidders had honoured the payment agreement as the deadline for settlement of bids was extended to yesterday 1500hrs by the ministry to enable bidders to finalise payment.

“What I can say is many came in to sign their agreements and are keen on taking up their quotas. We are currently busy with data reconciliation of the process to get a clear indication on the bidding process and final proceeds made by the government through the auction,” Shidhudhu

Government is yet to compile a report based on all payments and signed agreements after which a clear report will be given in this regard today. Shidhudhu also said bids that were not paid on the due date would be allocated to the next best bidder. According to figures released last week, the 11 000 metric tons of hake was sold in total for N$103 million. The 72 000 metric tons of horse mackerel was sold for N$457 million, while the 392 metric tons of monk brought in N$5.4 million. According to Albert Kawama, fisheries minister for Namibia the auctioning of quotas was the only way Namibia could acquire foreign currency to help mitigate the costs of the effects of Covid-19 , including procuring medical equipment and supplies for the country.

Liberty Pazvakawambwa SADC News

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