• Contact Us
  • About Us
  • Advertisement
  • Privacy & Policy
Friday, July 11, 2025
SUBSCRIBE
The Brief | Namibia's Leading Business & Financial News
26 °c
Windhoek
22 ° Wed
25 ° Thu
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
  • Home
  • Companies
    • Finance
    • Agriculture
    • Technology
    • Property
    • Trade
    • Tourism
  • Business & Economy
  • Mining & Energy
  • Opinions
    • Analysis
    • Columnists
  • Africa
  • e-edition
No Result
View All Result
The Brief | Namibia's Leading Business & Financial News
Subscribe
No Result
View All Result
TB image banner 750x140
Home Business & Economy

Govt raises N$52.3m from horse mackerel quota sale

by editor
April 20, 2023
in Business & Economy
48
A A
58
SHARES
962
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

You might also like

Women now lead over 70% of Namibian SMEs

Namibia seeks stronger U.S. partnerships at Africa Business Summit

April inflation rises to 3.6%, driven by food and housing costs

The Ministry of Finance and the Ministry of Fisheries and Marine Resources have raised a total of N$52.3 million from the sale of 28,500 metric tonnes (MT) of Horse Mackerel, inclusive of N$11,000 raised from application fees.

This comes after the government held an open bidding for 30,540 metric tonnes (MT) of Horse Mackerel on March 31, 2023.

“The Ministry of Finance and Fisheries and Marine Resources consider the Horse Mackerel auction a success, as shown in improved prices from the reserve price of N$3,000 to an average of N$3,017.64 for Freezer Horse Mackerel and N$750 to N$754.02 for Wet Horse Mackerel. Such an outcome confirms auctioning as a good mechanism to facilitate price discovery in the sector and allocate natural resources to the market,” the ministries announced on Thursday.

The decision to hold the auction was in line with Section 3(3) of the Marine Resources Act, Act No. 17 of 2000 as amended, which allows the government to utilize or harvest marine resources to promote socioeconomic, cultural, or other governmental objectives in the public interest through an entity or person designated by the Minister, on direction from Cabinet.

This move comes as the Namibian government has set the total allowable catch (TAC) for horse mackerel at 290,000 metric tonnes (MT) for the 2023 season, which began on January 1, 2023, and will run until December 2023.

This is a reduction from the 330,000 MT approved for the 2022 fishing season.

In 2022, Namibia’s fish exports decreased marginally by 1.3% to N$7.8 billion from N$7.9 billion recorded in 2021, according to the latest figures.

The fishing sector, according to Simonis Storm, accounted for an average of 12.5% of total exports in 2022 and year-to-date accounts for 5.7% of real GDP.

In 2020, the Namibian government resolved to sell fish quotas through a competitive auction system to the highest bidder, as part of efforts to ensure that the country receives the correct value for its fishery resources and fully benefits from its natural resources.

The government’s decision to open the bidding process for Horse Mackerel is expected to generate revenue for the country and provide a platform for companies to secure access to the much-needed resource.

 

 

 

 

 

author avatar
editor
See Full Bio
Tags: finance
Share23Tweet15Share4
Previous Post

MTC equips met office with early warning weather stations

Next Post

Chartered Accountant careers require commitment

Recommended For You

Women now lead over 70% of Namibian SMEs

by reporter
July 8, 2025
0
Women now lead over 70% of Namibian SMEs

More than 70% of Namibia’s small and medium enterprises (SMEs) are led by women, according to First National Bank (FNB) Namibia, highlighting a shift towards more inclusive entrepreneurship...

Read moreDetails

Namibia seeks stronger U.S. partnerships at Africa Business Summit

by reporter
June 23, 2025
0
Namibia seeks stronger U.S. partnerships at Africa Business Summit

Namibia will participate in the 2025 U.S.-Africa Business Summit, with the country’s attendance aimed at deepening economic ties with the United States and promoting investment and trade opportunities....

Read moreDetails

April inflation rises to 3.6%, driven by food and housing costs

by reporter
May 13, 2025
0
April inflation rises to 3.6%, driven by food and housing costs

Namibia’s annual inflation rate rose to 3.6% in April 2025, primarily fuelled by increases in food and housing-related costs, the Namibia Statistics Agency (NSA) has reported. According to...

Read moreDetails

NamRA uncovers N$666,000 tax refund fraud scheme

by editor
May 5, 2025
0
NamRA uncovers N$666,000 tax refund fraud scheme

The Namibia Revenue Agency (NamRA) has uncovered a fraudulent scheme that resulted in the illegal payout of tax refunds totaling more than N$666,000 between January and April 2025,...

Read moreDetails

141,000 non-compliant businesses face deregistration by BIPA

by editor
May 2, 2025
0
141,000 non-compliant businesses face deregistration by BIPA

More than 141,000 businesses in Namibia are at risk of being deregistered after the Business and Intellectual Property Authority (BIPA) began a phased process to remove entities that...

Read moreDetails
Next Post
Chartered Accountant careers require commitment

Chartered Accountant careers require commitment

Related News

Botswana to cull 10 000 cattle to curb foot-and-mouth outbreak

Botswana to cull 10 000 cattle to curb foot-and-mouth outbreak

September 20, 2022
Northern Tannery, Nkurenkuru Garment Factory still non-operational years after inauguration

Northern Tannery, Nkurenkuru Garment Factory still non-operational years after inauguration

January 23, 2025
Your Kitchen targets 130,000 meals per year for Namibia’s mining and hospitality sectors

Your Kitchen targets 130,000 meals per year for Namibia’s mining and hospitality sectors

May 20, 2025

Browse by Category

  • Africa
  • Agriculture
  • Analysis
  • Business & Economy
  • Columnists
  • Companies
  • Finance
  • Finance
  • Fisheries
  • Green Hydrogen
  • Health
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • Namibia
  • namibia
  • News
  • Opinions
  • Property
  • Retail
  • Technology
  • Tourism
  • Trade
The Brief | Namibia's Leading Business & Financial News

The Brief is Namibia's leading daily business, finance and economic news publication.

CATEGORIES

  • Business & Economy
  • Companies
    • Agriculture
    • Finance
    • Fisheries
    • Health
    • Property
    • Retail
    • Technology
    • Tourism
    • Trade
  • Finance
  • Green Hydrogen
  • Investing
  • Latest
  • Market
  • Mining & Energy
  • namibia
  • News
    • Africa
    • Namibia
  • Opinions
    • Analysis
    • Columnists

CONTACT US

Cell: +264814612969

Email: newsdesk@thebrief.com.na

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • Companies
  • Mining & Energy
  • Business & Economy
  • Opinions
    • Analysis
    • Columnists
  • Africa

© 2025 The Brief | All Rights Reserved. Namibian Business News, Current Affairs, Analysis and Commentary

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.