The Ministry of Finance and Public Enterprises has announced plans to auction 26,384 metric tons (MT) of horse mackerel to the highest bidder, aiming to generate revenue for government expenditure. The bidding process will close on 1 March.
The tender conditions stipulate that bids must be in multiples of 100 metric tons, with a minimum price of N$3,500 per MT for freezer fish and N$1,000 per MT for wet fish.
Each bidder is required to provide a bid security deposit equal to the reserve price per MT multiplied by the volume of MT applied for.
The ministry has outlined that the quota will be allocated to the highest bidders at their bid price, starting from the highest and descending until the full 26,384 MT allocation is reached or the reserve price is met.
“Bidders submitting bids below the lowest clearing price or the reserve price will be considered unsuccessful. In case of multiple bidders at the lowest clearing price, they will receive a pro-rata allocation. The Minister of Finance and Public Enterprises will not allot bids below the reserve price, nor allocate the residual quotas through any other means if the reserve price for the full 26,384 MT is not met,” stated the ministry. The full auction results will be announced by the end of March 2024.
It’s mandated that the marine resources should be harvested by a fishing vessel licensed in accordance with the Marine Resources Act, with consideration given to the number of Namibian citizens operating in such vessels, which must not be less than fifty-five percent (55%). The minister reserves the right to impose further conditions as deemed necessary.
The Minister of Fisheries and Marine Resources will designate successful bidders to catch the awarded quota during the harvesting period.
“This quota is applicable only to the governmental objective fish quota allocated for the 2024 fishing harvest period. There will be no refund or re-allocation of uncaught quota to the next fishing season. Entities are therefore encouraged to purchase quota considering the remaining time before the end of the fishing season and their capacity to catch the quota.”
Bidders are required to include proof of payment of a non-refundable administrative fee of N$1,000 along with their bids.
