WALVIS BAY – Troubled Hodago Fishing’s struggles are far from over as the company’s financial crises move from bad to worse while the company’s court battles pile up.
The company is yet to pay employees outstanding salaries.
As if this was not enough, an internal memo sent to staff last week shows that the company struggles to pay salaries and is unsure when the salaries will be settled.
“We are currently experiencing severe cash flow constraints arising from ongoing operational and funding challenges within the business. Over the past several weeks, management and shareholders have aimed at stabilising the organisation and restoring normal business operations,” the statement from management reads.
Workers who spoke to New Era say they are facing financial hardships brought on by the company’s financial position.
“We have legally worked and are owed money by the company. Our housing, car and school payments are piling up. Our insurance and funeral payments are also in shambles,” one of the fishermen told the New Era.
Legal battles
The salary delays come as Hodago is embroiled in a legal dispute over a multimillion-dollar horse mackerel deal.
The company was dragged to the High Court by Zambian company Delmare Group Limited, who wants to go to court to stop Hodago from offering about 600 metric tonnes of horse mackerel to the Social Fund of the Democratic Republic of the Congo (FSRDC).
The Fund is a public social institution established in 2002 and operates as an implementing agency under the authority of the president of the Democratic Republic of Congo.
Court documents reveal that the deal is valued at approximately N$15 million.
The fish is being held in cold storage in Walvis Bay under a preservation order granted by the court.
Court papers show that Delmare advanced approximately N$26 million to Hodago under a supply and financing agreement concluded in June 2025.
Delmare states that, in terms of the agreement, ownership of the fish vests in them immediately upon being caught, provided the required advance payments have been made.
“If the stock is delivered to the second respondent, the applicant will be compelled to pursue enforcement against a sovereign foreign fund in a foreign jurisdiction, with all the attendant difficulty and uncertainty that it entails,” Delmare said in its founding affidavit.
In its answering affidavit, director Ernst Kubirske said Delmare’s entitlement under the agreement is limited and conditional, and does not extend to the full consignment currently held in cold storage.
Meanwhile, another company, Daron Trading Namibia, also filed an urgent High Court application, seeking the return of thousands of cartons of fish stored at a Walvis Bay cold storage facility.
The company wants 5573 boxes, including horse mackerel and mixed species, currently stored at NIBC Cold Store (Pty) Ltd in Walvis Bay.
Daron Trading Namibia is asking the High Court to restore possession of the stock that it was unlawfully deprived of – the fish.
According to court papers, Daron says it was in possession of the fish under a cold storage agreement concluded with NIBC Cold Store on 29 January.
The agreement relates to fish landed by the vessel MV Venus I and stored at NIBC’s facility.
Daron states that NIBC was only allowed to release the stock on instruction from Daron.
However, NIBC allegedly refused to release the stock, stating that it could only do so with consent from Hodago Fishing.
Daron also claims it held a lien over the fish as security for amounts allegedly owed by Hodago Fishing, which it says amounts to about N$3.28 million.
The dispute arose after Daron instructed NIBC on 20 February 2026 to release 5573 cartons of fish to a buyer.
“Hodago is not a party to the storage agreement between itself and NIBC and therefore has no contractual right to interfere in the arrangement.
NIBC’s refusal to release the stock amounted to a breach of the agreement and resulted in unlawful dispossession,” reads one of the affidavits.