May 16, 2025

 

First salmon farm in Namibia gets US$2.2 million for phase one

 

 

Namibia's first salmon farm has secured N$41 million (US$2.2 million) for phase one of the farming project off the coast of Lüderitz.

 

The African Aquaculture Company (AAC) last week announced that the investment came from Norwegian and Namibian investors.

 

The first phase will focus on producing 1,000 tonnes of high-quality Atlantic salmon annually, with plans to scale up to an annual production capacity of 51,000 tonnes across three licensed offshore sites.

 

The fish produced during the pilot phase will cater to both local and international markets, with southern Africa, the Middle East, and Europe identified as strategic destinations.

 

"These funds, bolstered by loans with Norwegian export finance guarantees, will enable the initial steps of production, starting with smolt farming and the development of key infrastructure," reads a statement issued by AAC.

 

AAC chief executive Helge Krøgenes said the financing not only sets the project in motion but paves the way for Namibia to become a significant player in the global salmon market.

 

"The collaboration with Norwegian and Namibian investors underscores our shared commitment to economic growth, technological innovation, and the sustainable management of marine resources," said Krøgenes.

 

According to the statement, the AAC aims to leverage advanced Norwegian aquaculture technology to develop environmentally sustainable fish farming practices.

 

This state-of-the-art operation will utilise the cold waters of the Benguela Current, ideal for salmon farming due to temperatures ranging from 10 to 16°C.

 

The project is estimated to create over 5,000 direct and indirect jobs once full production capacity is achieved.

 

AAC country director Clement Kaukuetu said local workforces will be trained in aquaculture operations while benefiting from technology transfer and support from Norwegian experts

 

"This project is a beacon of opportunity for Namibia. It will not only create jobs but also equip the local population with skills to thrive in the burgeoning global aquaculture industry," said Kaukuetu.

 

AAC vice president Torben Foss said the company's mission aligns with the United Nations' call for the expansion of aquaculture to meet the global demand for marine proteins sustainably.

 

"Namibia's political stability and favourable investment climate have played a key role in attracting funding and making this project feasible," Foss added.

-The Namibian