Fishcor eyes N$60m from quota auction
13 April 2021 | Local News
The National Fishing Corporation (Fishcor) intends to raise N$60 million in auctions from a 5 000 metric tonne allocation it received.
Board chairperson Mihe Gaomab II said the company will allocate the money to assist with operational obligations.
“We intend to raise as a minimum N$60 million from the 5 000 hake auction freezer at 12 000 per metric tonne and the proceeds of the sale would be to meet immediate and pressing financial and operational needs,” he said.
He confirmed that the entity’s accounts had also been unfrozen by the Financial Intelligence Centre since the start of April. Fishcor had breached exchange regulations, leading to the freezing of its accounts.
Funds from Fishcor had also been used to allegedly pay bribes to politically connected individuals in what has now come to be known as the Fishrot scandal.
Shortlisted candidates identified
Meanwhile, Gaomab said the process of recruiting a CEO was almost complete. Fishcor has been without a fully appointed CEO since November 2019 after its previous head, Mike Nghipunya was suspended.
“The psychometric tests are completed and we have identified five shortlisted candidates. Interviews are to be held next week and [the] prospective candidate to be submitted within this month to the ministry of public enterprises in line with governance procedures and recruitment and selection policy,” he said.
Lawyer and fellow Fishcor board member Ruth Herunga has been appointed in the interim as the entity’s acting CEO.