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Nation waits with bated breath for auction proceeds

2020-09-03  Eveline de Klerk

Nation waits with bated breath for auction proceeds
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WALVIS BAY – Namibians are waiting anxiously to hear the final outcome of the auctioned governmental objective fish quota, from which treasury last week declared the country was to rake in over N$627 million. 
Finance minister Iipumbu Shiimi announced that government is set to generate over N$627 million from the 83 392 metric tons of fish that was sold to the highest bidder. This includes the application fees that were processed during the bidding process. 
Government earlier this month announced its intention to auction the governmental objective quota to local and international bidders. 

 At least 40% of the said quota was reserved for local operators, while the remaining 60% was offered to the highest international bidders. Approached for comment yesterday, finance ministry spokesperson Tonateni Shidhudhu said many successful bidders are keen on taking up the offer after signing contracts with the ministry. 

He, however, could not confirm whether all successful bidders had honoured the payment agreement as the deadline for settlement of bids was extended to yesterday 15h00 by the ministry in order for bidders to finalise payment. 
“What I can say is many came in to sign their agreements and are keen on taking up their quotas. We are currently busy with data reconciliation of the process to get a clear indication on the bidding process and final proceeds made by the government through the auction,” Shidhudhu said yesterday. 
He explained that the ministry will compile a report based on all payments and agreements signed and will be able to give a clear update in this regard today. 
Shidhudhu also said that bids that were not paid on the due date would be allocated to the next best bidder. 

According to figures released last week, the 11 000 metric tons of hake was sold in total for N$103 million. The 72 000 metric tons of horse mackerel was sold for N$457 million, while the 392 metric tons of monk brought in N$5.4 million. 
Fisheries minister Albert Kawana recently indicated that the auctioning of quotas was the only way Namibia could acquire foreign currency to help mitigate the costs of the effects of Covid-19 in the country, including procuring medical equipment and supplies.

2020-09-03  Eveline de Klerk

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