Chamwe Kaira
Ministry of Finance and Public Enterprises and Ministry of Fisheries and Marine Resources plans to auction 5000 metric ton (MT) of Hake.
The move is part of the government objective of selling fishing quotas to the highest bidder. Bids must be in multiples of 100 metric ton with a minimum price of N$9000 per MT of Freezer fish and N$7000 per MT of wet fish.
Bids must be submitted by 8 December and full auction results will be announced by mid- January 2024.
The government has continued to generate revenue through fish auctions with figures showing that more than N$700 million has been raised through the auctions.
This approach involves auctioning fish quotas through a competitive bidding system, ensuring that the nation receives fair compensation for its fisheries and maximizes the benefits of its natural resources.
Some of the auctions have included 600 metric tons of Monk Freezer Fish to the highest bidder. In 2021, the Ministries of Finance and Fisheries and Marine Resources reported that auctions held during the year raised an impressive N$567 million.
One such auction occurred on 31 March this year, where 30,540 metric tons of horse mackerel were auctioned, resulting in a total revenue of N$52.3 million.
The government considered this auction successful, as it led to improved prices, increasing from the reserve price of N$3000 to an average of N$3017.64 for freezer horse mackerel and from N$750 to N$754.02 for wet horse mackerel.
On 16 December 2022, the government successfully auctioned 15,000 metric tons of hake, raising a total of N$110.1 million. The ministry hailed this hake auction as another success, with prices rising from a reserve price of N$7 000 to an average of N$8,592.55 for wet hake and from N$9000 to N$10,207.41 for freezer hake.
On 1 July 2022, the government auctioned 1000 metric tons of monk freezer fish, resulting in a revenue of N$6.4 million.
