Ministry of Finance and the Ministry of Fisheries and Marine Resources have invited bids for 11 090 metric tonnes (MT) of Horse Mackerel in their first Governmental Objective Fish Quota auction for the year.
This month’s auction comes as the government raised N$567 million in total from Governmental Objective Fish Quota auctions of 2021.
Six auctions were held in total during 2021, with 86 040 metric tonnes auctioned off.
The last auction for the year was held in December, with 14 000 metric tonnes of hake auctioned off, raising N$158.4 million.
Government in 2020 resolved to sell the fish quota through a competitive auction system to the highest bidder, as part of efforts to ensure that the country receives the correct value of its fishery resources and fully benefits from its natural resources.
The auctions are being held inline with Section 3(3) of the Marine Resources Act, Act No. 17 of 2000 as amended, which makes provision for the State to utilize or harvest marine resources to advance any social-economic, cultural or other governmental objectives in the public interest, through an entity or person designated by the Minister, on direction from Cabinet.
