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Fishcor is selling more hake

Fishcor is selling more hake

Niël Terblanché


STILL faced with some serious financial challenges, the Namibian Fishing Corporation (Fishcor) will host another hake auction in order to make ends meet.


Heinrich Mihe Gaomab II, the Chairperson of the Temporary Board of Directors of Fishcor, in a statement said the state-owned enterprise aims to sell 5 000 tonnes of its freezer quota to the highest bidder.


“The Board has remained committed to addressing the challenges faced at Fishcor with a compassionate and humane understanding of the situation at the moment, whilst being cognizant of addressing the strategic, executive, and operational challenges,” Gaomab said.


He said the public is aware of the fact that Fishcor has embarked on a turnaround strategy and while that process is ongoing, the company still has immediate debt and financial obligations to honour, hence the decision to auction off 5 000 tonnes of hake to freezer trawler operators.


Fishcor selling hake serious financial challenges Namibian Fishing Corporation auction


The second Fishcor auction follows the success of the first auction where the state-owned company sold 3 000 tonnes of hake in January.


According to Gaomab, the company managed to generate revenue of N$39 million from that sale. They received a price of N$12 700 per tonne during the previous auction.


“The auctioning of quotas is for the sole purpose of employee sustenance and to attend to ensured financial and debt obligations and addressing urgent overhead expenses,” Gaomab said in his statement.


Fishcor’s second hake auction for the year follows on the heels of the Ministry of Fisheries and Marine Resources’ announcement that it too intends to sell 15 948 tonnes of hake on open auction.


The fisheries ministry said it aims to create revenue of nearly N$96 million for the state from their hake auction and invited both Namibian and international bidders to submit their offers for the government’s portion of the Total Allowable Catch of hake.


The ministry is offering 11 164 tonnes of hake to wet fish processors and 4 784 tonnes to operators of freezer trawlers.


Namibian companies will be able to bid on half of the wet and freezer fish on offer while the other half will be available to international operators.


Building on the success of the January auction, Fishcor has set a reserve price of N$12 000 per tonne on the freezer quota and no limit with regards to tonnage or nationality was placed on prospective bidders.


Gaomab said that the company intends to create revenue of N$60 million through the freezer quota auction.


According to Gaomab, the closing date for bids will be on 21 April 2021.
In the meantime, bidding for the Ministry of Fisheries and Marine Resources’ hake auction will be closed on Friday 16 April 2021.


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