Namibian government pockets US$42.16m from fishing quotas auction

NAMIBIA – The government of Namibia has raised N$627.9 million (US$42.16m) from the auction of its fishing quota to both international and local companies, with the financing to be channelled to procure the required resources to fight the COVID-19 pandemic. The amount was announced by minister of finance Lipumbu Shiimi, who said it is twice more than the N$315 million (US$21.15m) the government could have raised if fish quotas were sold at reserved prices, reports the Namibian. “The total amount raised from the auction amounts to N$ 627,936,827.10 (US$42.16m) including the application…

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