Walvis Bay
The Namibian fishing sector generated a whopping N$10 billion in export revenue during the 2015/2016 season, a massive 43 percent increase from the previous financial year of 2014/2015 that generated N$7 billion.
This was revealed by the Minister of Fisheries and Marine Resources Bernard Esau when he spoke to stakeholders in the fishing industry at Walvis Bay last Friday.
Esau attributed the improved revenue to the size of the fisheries, the favourable exchange rates, increased value addition and better prices in some markets.
He said the main trading currencies currently for the fishing industry are the US dollar and the euro, adding that the Namibian dollar depreciated markedly against major currencies last year.
“This rise in exchange rate against the local currency meant that for every kilogramme of Namibian fish and fishery product exported our industry earned more in the Namibian dollar in 2015 compared to 2014,” the minister explained on Friday.
Esau further said that fuel and especially diesel continue to be one of the main expenditures in the fishing industry with an average diesel price of N$11.07 per litre recorded in January. “This decreased to N$10.47 per litre by December 2015, a reduction which was very beneficial to operators in the fishing industry,” explained Esau.
The total allowable catch (TAC) stood at 528 696 tonnes for 2015/2016 compared to 605 450 tonnes during the 2014/2015 financial year, which showed a decrease of 12.7 percent but despite the decrease Namibia earned N$10 billion in fish exports.
The total landings for 2014/2016 were 481 298 tonnes, while the preliminary landings for 2015/2016 year at February 2016 stood at 462 129 tonnes.
The sector also made investments to the value of N$174 million in terms of acquiring shares in vessels, construction of processing plants, purchasing of freezer equipment and the establishment of fish shops to help improve the accessibility of fish products to all citizens.
Esau called for continued investment in the fishing sector as this will propel the sector to greater heights and create quality employment opportunities for Namibians.
“I am convinced that with your support we can continue to maintain our fishing industry as one of the most competitive and financially sustainable fisheries in the SADC region and beyond,” said the fisheries and marine resources minister.
As for the status of fisheries stocks, the minister said that research conducted during last year indicates that most of the commercially important fish stocks are showing signs of healthy recovery, although there is still a need to rebuild such stocks to ensure optimal contribution to the country’s economy.
In contrast, the individual companies with fishing rights only contributed N$48 million during 2015 towards corporate social responsibility, which averaged N$160 000 for each of the 300 fishing right holders, some of whom have in the past been condemned for splurging on non-productive luxury goods and top-of-the-range imported vehicles.