Job cuts loom at Novanam

OGONE TLHAGE

WINDHOEK

Job cuts are expected at NovaNam after the fishing company had its quota reduced.

The company’s MD, Edwin Kamatoto, was not willing to give any information yesterday, saying that a statement would be released once internal arrangements had been finalised.

Kamototo said the information about its quota allocation had been released by a third party not associated with the company.

An insider speaking to Namibian Sun claimed that the company’s fishing quota had been cut.

“There has been a reduction in the quota allocation which will absolutely have an effect on the jobs,” the source said.

“We are told internal arrangements are being made.

Expansion

The company expanded its fleet last year with the acquisition of three wet-fish trawlers for its NovaNam and Lalandii subsidiaries.

This was coupled with a N$450 million investment in wet-fish trailers for its Namibian and Mozambican operations.

NovaNam, part of the Pescanova group of companies, was established in 1990. Lalandi was acquired by NovaNam in 2005 after Lalandi had been placed into liquidation by its previous owners.

These companies employ a total of 2 100 workers, of whom 1 800 are based at its wet-fish operations at Lüderitz.

A further 300 people are employed in NovaNam's freezer fleet operations at sea and its fish-processing plant in Walvis Bay.