LOCAL and international fishing companies will have until midday on Friday to place their bids for the Namibian Government’s share of the national fishing quota.
The controversial auction was launched on the open market to raise much needed foreign currency reserves to address, amongst others, the destructive effect of the COVID-19 pandemic on the national economy.
During the auction, 40% of the 72 000 tons of horse mackerel quota and 11 000 tons of hake quota will be exclusively reserved for Namibian-registered companies.
That share of the total allowable catch on the auctioneers block will be used mainly for preserving the jobs of roughly 15 000 people employed up and down stream by the local industry.
The quota of 40% for local fishing companies is divided into 30% wet fish (1 320 metric tons) with a reserve price (minimum bid) of N$6 000 per metric ton and 70% freezer (3 080 metric tons) with a reserve price of N$6 600 per metric ton.
The remaining 60% of the hake quota up for auction (6 600 metric tons) is open for bidding from both Namibian registered companies and international companies.
The reserve price is N$7 700 per metric ton.
With Horse mackerel, a total 72 000 tons is open for auctioning.
Of that, 40% (28 000 tons) is reserved for Namibian registered companies.
That is further divided into 30% wet (8 640 metric tons) at a reserve price of N$2 500 per ton and 70% freezer (20 160 metric tons) at a reserve price of N$3 000 per ton.
The 392 metric tons of monk is up for auction at a reserve price of N$7 700 per ton.
In the notice issued by the Ministry of Fisheries and Marine Resources, the successful bidders will have to sign a cooperation agreement with the Namibian Government on conditions that would apply during the remainder of the fishing season.
The deadline for 10:00 was set for the submission on Friday and bids can be handed in by hand at the Ministry of Fisheries and Marine Resources head office in Windhoek, alternatively bids can be emailed to auction.quota.mfmr.gov.na
Bidding documentation is also obtainable from the various Government ministries online at www.mof.gov.na (Ministry of Finance); www.mict.gov.na (Ministry of Information and Communication Technology) and www.mfmr.gov.na (Ministry of Fisheries and Marine Resources).
The bidding documents can be obtained at a cost of N$1 000 per set and will be released if proof of payment of a deposit into the State Account was received.
Bids delivered by hand will have to be sealed in an envelope with the cover form accompanying the bidding documents.
The finance ministry will announce the successful bids after the deadline on Friday.
The successful bidders will have to pay for their share of the quota by 15:00 on 31 August.