Namibia invests US$42.92 million to develop aquaculture sector

The Namibian fisheries minister has called for a NAD322.18 million (US$42.92 million) budget for management and administration, including aquaculture development in 2010-11.

According to reports, the minister Bernhard Esau wants to spend NAD153.07 million (US$20.39 million) on capital projects.

Surveying and stock assessment, which looks at the status of Namibia's fish stocks and marine environment, will be allocated NAD120.29 (US$16.02 million) according to the report.

A total of NAD117.86 million (US$15.70 million) will go to monitoring, control and surveillance of fishing activities within the Namibian Exclusive Economic Zone (EEZ) and inland water areas. Esau said that illegal, unreported and unregulated fishing has dropped to an "absolute minimum", although this remains a constant threat in the region.

The marine and inland aquaculture programme will receive NAD81.667 million (US$10.88 million).

Esau said Agribank will make NAD8 million (US$1.06 million) available for the aquaculture sector to help mariculture farmers with startup financing and for the expansion of existing businesses.

Three new aquaculture centres have already been built, with an expected yield of 351 tonnes of fish valued at about NAD3.5 million (US$466,356).

A fish feed plant was completed in the Omusati region, and has produced 38 tonnes valued at NAD158,550 (US$21,125) since March last year.

Additionally, the Chinese government has given a grant of NAD15 million (US$1.99 million) to aquaculture development here. The grant will be used to upgrade the Hardap Inland Aquaculture Centre.