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The Ministry of Finance and the Ministry of Fisheries and Marine Resources in Namibia have opened bidding for 30,540 metric tonnes (MT) of Horse Mackerel.
The decision to hold this auction is 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 social-economic, 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 accounted 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.
The auction is also expected to contribute to the government's efforts to achieve its social-economic and developmental goals through the responsible management of its marine resources.
Namibia is an African country that offers several attractive investment opportunities for investors. Some of the reasons for investing in Namibia include:
The Business and Intellectual Property Authority (BIPA) is collaborating with the Namibia Revenue Agency (NamRA) to curb cross-border violations or infringements by enforcing Intellectual Property Rights protection (IPRs) laws.
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The Namibia Statistics Agency (NSA) has announced that the 2021 Population and Housing Census (PHC) will finally be conducted in August this year.
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The Southern African Customs Union (SACU) Council of Ministers has appointed Thabo David Khasipe as the new Executive Secretary, effective from the 1st of February 2023.
Minister of Labour, Industrial Relations and Employment Creation Utoni Nujoma says the government resolved 3,108 labour cases out of 4,378 laid with the Ministry, translating to 68% of complaints presented to the Labour Commissioner in the first three quarters of the financial year 2022-2023.
Prime Minister Saara Kuugongelwa-Amadhila has urged local authorities to make use of Public-Private Partnerships (PPPs) to accelerate service delivery amid the reduction in public revenue caused by a downturn in the economy.
The Social Security Commission (SSC) has announced that it has disbursed a total of N$147 million towards community development and employment creation, bursaries and study loans, and training schemes, since the inception of its Development Fund in 2011.
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Minister of Finance and Public Enterprises Iipumbu Shiimbi has announced an increase in sin tax, in which a pack of 20 cigarettes goes up by 98c, a kg of cigars will cost an additional N$237.79; unfortified wine will increase by 24c per litre, whereas fortified wine goes up by 41c per litre.
The Ministry of Finance and Public Enterprises has set aside N$400 million for public enterprises.