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Boat tour and cruise operators, Laramon Tours and Catamaran Charters have emerged their operations, effective March 1, 2023, following regulatory approval from the Namibia Competition Commission. 

Nedbank Namibia has announced a 34% increase in profit after tax to N$275million for the financial year ended 31 December 2022. 

Namibia has extended the gambling licence registration by another six months to August 2023, amid indications that only 3.4% of the 13,668 operators had applied by the end of February.

The government has yet to engage with the unions representing its 107,000 civil servant workforce over the possibility of retrenchment as an option to control its ballooning wage bill.

Mokuti Etosha has reopened its doors with a new look and rebranding after undergoing a complete overhaul over the last 15 months. 

Nedbank Namibia celebrated its annual Employee Top Achievers Awards ceremony at the Nedbank Campus, recognizing the outstanding performance and contributions of employees who made a significant impact on the bank's success during 2022. 

Namibia’s National Petroleum Corporation (NAMCOR) has announced a significant discovery of light oil in the Jonker-1X deep-water exploration well, located in the offshore region approximately 270 kilometers off the Namibian coast.

Canadian company Sintana, together with its subsidiary Custos Investments, has announced an agreement with Woodside Energy for an option to acquire a 56% participating interest in the PEL 87 block offshore Namibia.

Old Mutual Namibia has appointed Logan Fransman as its new Group Operations Executive, effective from 1 March 2023. 

The Ministry of Finance and the Ministry of Fisheries and Marine Resources in Namibia have opened bidding for 30,540 metric tonnes (MT) of Horse Mackerel.

The decision to hold this auction is in line with Section 3(3) of the Marine Resources Act, Act No. 17 of 2000 as amended, which allows the government to utilize or harvest marine resources to promote social-economic, cultural or other governmental objectives in the public interest through an entity or person designated by the Minister, on direction from Cabinet.

This move comes as the Namibian government has set the total allowable catch (TAC) for horse mackerel at 290,000 metric tonnes (MT) for the 2023 season, which began on January 1, 2023, and will run until December 2023.

This is a reduction from the 330,000 MT approved for the 2022 fishing season.

In 2022, Namibia's fish exports decreased marginally by 1.3% to N$7.8 billion from N$7.9 billion recorded in 2021, according to the latest figures.

The fishing sector, according to Simonis Storm, accounted for an average of 12.5% of total exports in 2022 and year-to-date accounted for 5.7% of real GDP.

In 2020, the Namibian government resolved to sell fish quotas through a competitive auction system to the highest bidder, as part of efforts to ensure that the country receives the correct value for its fishery resources and fully benefits from its natural resources.

The government's decision to open the bidding process for Horse Mackerel is expected to generate revenue for the country and provide a platform for companies to secure access to the much-needed resource.

The auction is also expected to contribute to the government's efforts to achieve its social-economic and developmental goals through the responsible management of its marine resources.

 

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