Erongo Marine allocates shares to employees

WALVIS BAY - Erongo Marine Enterprises, a fishing company at Walvis Bay, has allocated shares to 160 employees by establishing a Harambee Trust.Erongo Marine is a subsidiary of the Oceana Group, which the Arechanab Community Trust also falls under.The Erongo Harambee Trust was officially introduced to the public on Saturday by Vice-President Nickey Iyambo.The 160 beneficiaries are employees who are not in management positions. They will benefit through dividends and everyone is expected to receive about N$30 000 annually.The initiative is a response to the Harambee Prosperity Plan.Iyambo lauded the company and said this is a sign that Namibians who have the means are starting to help those who do not have the means.He said this is what the proposed New Equitable Economic Empowerment Framework (NEEEF) aims to achieve, should it be signed into law.The aim of the NEEEF is to promote equitable, inclusive and shared economic development and to narrow income disparities between the rich and the poor. “I hope in the next few months, or a year from now, we will see more of these Harambee responses, as Namibians realise it is good to live together in harmony and share resources,” said Iyambo.Bernhard Esau, the minister of fisheries and marine resources, said employees should not only own shares, but participate in company management.“There should be skills transfer, we want to see these people becoming managers of this company,” he said.He reiterated that the ministry will continue to award companies who create employment by allocating bigger fishing quotas to them.The managing director of Erongo Marine, Martha Uumati, said in addition to making sure the resources are shared, this is part of their corporate social responsibility.Uumati said the company, which receives an annual quota of 60 000 metric tonnes of horse mackerel, continues to give back to those in need. Harambee MomentsThe company made donations worth more than N$500 000 at the event.Announced under what was termed Harambee Moments, the Centre for Resource and Transformation (CERET) received the biggest cheque of N$350 000 to be used for gardening by communities in the Omaheke Region’s Aminius Constituency. Other donation included N$100 000 for the National Youth Service for its disability project, while the !Nara and Flamingo primary schools at Walvis Bay received N$50 000 each to construct classrooms. Another N$50 000 was given to the DRC School Project and Community Centre at Swakopmund, also for gardening purposes.The governors of the Otjozondjupa and Hardap Regions, Otto Ipinge and Esme Isaack, took home canned fish worth a combined N$50 000. The fish will be given to communities who are in need of food. - Nampa

Erongo Marine allocates shares to employees

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Namibian Sun 2025-11-05

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Erongo Marine allocates shares to employees

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Namibian Sun 2025-11-05

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