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Namibia Initiates 600t Monk Freezer Fish Auction

The finance and fisheries ministries have started a bidding process for the sale of 600 tonnes of monk freezer fish.

This follows the government’s recent open bidding for 30 540 tonnes of horse mackerel on 31 March.

The decision aligns with section 3(3) of the Marine Resources Act 17 of 2000, as amended. This section empowers the government to exploit or harvest marine resources to advance socio-economic, cultural, or other governmental objectives in the public interest. Such exploitation is conducted through an entity or individual designated by the minister, under the direction of the Cabinet.

In 2020, the government adopted a resolution to auction fish quotas using a competitive bidding system. This approach ensures the nation receives equitable value for its fishery resources and maximises benefits from its natural assets.

Notably, Namibia’s fish export earnings reached a historic peak in May, surging to N$1,1 billion compared to N$697 million in May 2022, as shown by the latest available data.

In 2022, Namibia experienced a 1,3% dip in fish exports, totalling N$7,8 billion in contrast to the N$7,9 billion recorded in 2021.

According to Simonis Storm Securities, the fishing sector contributed an average of 12,5% to the total exports for last year.

Source : The Namibian