The government is set to raise millions of dollars from the auction of 15,000 metric tonnes (mt) of Hake in its third sale of fishing quotas this year.
This was after the Ministry of Finance and the Ministry of Fisheries and Marine Resources requested bids for the third auction which closes on December 16, 2022. In June this year, the government auctioned 1,000mt of Monk Freezer fish and 11,090mt of Horse Mackerel in April.
The latest auction 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 of 2021 held in December saw 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 in line with Section 3(3) of the Marine Resources Act, Act No. 17 of 2000 as amended, which makes provision for the State to utilise or harvest marine resources to advance any socio-economic, cultural or other governmental objectives in the public interest, through an entity or person designated by the Minister, on direction from Cabinet.
