The Ministry of Finance and the Ministry of Fisheries and Marine Resources have initiated a bidding process for the sale of 600 metric tonnes (MT) of Monk Freezer fish.
This follows the government’s recent open bidding for 30,540 metric tonnes (MT) of Horse Mackerel on March 31, 2023.
The decision aligns with Section 3(3) of the Marine Resources Act, Act No. 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 Namibian 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 maximizes benefits from its natural assets.
Notably, Namibia’s fish export earnings reached a historic peak in May of the present year, 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 slight 1.3% dip in fish exports, totaling N$7.8 billion in contrast to the N$7.9 billion recorded in 2021.
According to Simonis Storm, the fishing sector contributed an average of 12.5% to the total exports for 2022.
