Etosha Fishing commences operations

Otis Daniels
Etosha Fishing has announced that its cannery will resume operations on 30 October to process the horse mackerel relief quota allocated by the fisheries ministry in June this year.

The intended purpose of the quota allocation, as approved by Cabinet, is to sustain employment at the company in the short term. The company explained that operations are only commencing in October as Etosha Fishing had to first secure catch capacity, after which the horse mackerel quota could be landed for processing.

Etosha Fishing expressed its gratitude to government and the fisheries ministry, in particular minister Derek Klazen, for the intervention to prevent the company from closing.

The company also thanked the Namibia Seamen and Allied Workers Union (NASAWU) and the company’s employees for their patience and resilience amid trying times.

Challenge times

The catching and processing of pilchards has traditionally been at the core of Etosha Fishing’s operations. However, since the pilchard moratorium was implemented in 2017, keeping the company afloat has become a demanding challenge.

This week, the fisheries ministry announced during a Cabinet briefing that the pilchard moratorium will remain in place until such time as the stock has recovered to a biologically sustainable level.

Even though Etosha Fishing has explored various avenues to sustain employment and operations over the past five years, including the importation of frozen pilchards for local value addition, the company has suffered substantial annual losses. As the situation reached unsustainable levels, Etosha Fishing in March this year initiated procedures to terminate the employment of all 430 company employees.

The 5 000mt horse mackerel quota was allocated to Etosha Fishing as a short-term relief measure to allow the company time to implement a turnaround strategy to ensure the long-term sustainability of Namibia's sole operational cannery. As a result, the intended termination process was retracted.

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Namibian Sun 2024-09-19

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LaLiga: Real Betis 2 vs 1 Getafe | Mallorca 1 vs 0 Real Sociedad | Rayo Vallecano 3 vs 1 Osasuna SerieA: SS Lazio 2 vs 1 Hellas Verona | Parma 2 vs 3 Udinese Katima Mulilo: 19° | 40° Rundu: 20° | 39° Eenhana: 17° | 37° Oshakati: 17° | 35° Ruacana: 17° | 35° Tsumeb: 21° | 34° Otjiwarongo: 14° | 33° Omaruru: 13° | 33° Windhoek: 12° | 29° Gobabis: 10° | 29° Henties Bay: 10° | 16° Wind speed: 24km/h, Wind direction: S, Low tide: 05:02, High tide: 11:41, Low Tide: 18:01, High tide: 00:18 Swakopmund: 11° | 13° Wind speed: 27km/h, Wind direction: SW, Low tide: 05:00, High tide: 11:39, Low Tide: 17:59, High tide: 00:16 Walvis Bay: 10° | 16° Wind speed: 27km/h, Wind direction: S, Low tide: 05:00, High tide: 11:38, Low Tide: 17:59, High tide: 00:15 Rehoboth: 8° | 27° Mariental: 10° | 25° Keetmanshoop: 8° | 22° Aranos: 8° | 26° Lüderitz: 10° | 34° Ariamsvlei: 8° | 21° Oranjemund: 9° | 27° Luanda: 21° | 23° Gaborone: 14° | 27° Lubumbashi: 17° | 37° Mbabane: 8° | 10° Maseru: 4° | 11° Antananarivo: 12° | 29° Lilongwe: 21° | 32° Maputo: 16° | 19° Windhoek: 12° | 29° Cape Town: 12° | 19° Durban: 12° | 17° Johannesburg: 8° | 18° Dar es Salaam: 23° | 28° Lusaka: 23° | 36° Harare: 19° | 32° Currency: GBP to NAD 23.2 | EUR to NAD 19.53 | CNY to NAD 2.47 | USD to NAD 17.49 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.28 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.65 | ZWL to NAD 0.04 | BRL to NAD 3.21 | RUB to NAD 0.19 | INR to NAD 0.21 | USD to DZD 132.04 | USD to AOA 926.84 | USD to BWP 13.21 | USD to EGP 48.46 | USD to KES 128.48 | USD to NGN 1593.37 | USD to ZAR 17.52 | USD to ZMW 26.3 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1838.95 Up +1.41% | Casablanca Stock Exchange (CSE) MASI 14184.33 Up +0.68% | Egyptian Exchange (EGX) 30 Index 30937.69 Up +1.96% | Botswana Stock Exchange (BSE) DCI 9651.25 Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - 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Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 589.10/OZ UP +1.16% | Copper US$ 4.32/lb UP +1.84% | Zinc US$ 2 955.80/T UP 0.43% | Brent Crude Oil US$ 74.71/BBP UP +2.35% | Platinum US$ 984.85/OZ UP +1.78%