The Government is set to auction 1000 metric tonnes (MT) of Monk Freezer fish in its second sale of the year.
The request for bids by the Ministry of Finance and the Ministry of Fisheries and Marine Resources, comes after 11 090 MT of Horse Mackerel were auctioned in April, the first auction for 2022.
The latest auction, which closes on the 1st of July, comes as the government raised N$567 million in total from Governmental Objective Fish Quota auctions of 2021, where six auctions were held 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.
The Government resolved two years ago 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.
