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Namibia secures N$41 million financing for first-ever Salmon Farming Project
01:06

Namibia secures N$41 million financing for first-ever Salmon Farming Project

By: Hertha Ekandjo The African Aquaculture Company (AAC) has secured €2 million (approximately N$41 million) in equity financing to launch the first phase of its pioneering salmon farming project off the coast of Lüderitz in the //Kharas Region. This marks the beginning of a major international partnership between Namibian and Norwegian investors, aiming to establish Namibia as a future leader in sustainable aquaculture. The financing package which is part of a larger funding plan totaling approximately N$123 million (€6 million) includes support from Norwegian export finance-backed loans and local Namibian financial institutions. Nordic investment bank ABG Sundal Collier is among the key players facilitating the investment, providing both capital and aquaculture expertise. The first phase of the project will focus on smolt (young salmon transitioning to seawater) farming and the development of essential infrastructure, targeting an initial output of 1,000 tonnes of premium Atlantic salmon per year. Long-term plans envision scaling up production to 51,000 tonnes annually across three licensed offshore sites. The cold, clean waters of the Benguela Current, ranging from 10 to 16°C are considered ideal for salmon farming. Crucially, the region is free from salmon lice, a common challenge in traditional farming regions, giving Namibia a natural competitive edge. AAC aims to meet top-tier international environmental standards, including Global G.A.P. and Aquaculture Stewardship Council (ASC) certifications. Watch on oneafrica.tv, DStv or GOtv at 19h00 on Mondays to Fridays. #newsonone #newsupdate #oneafrica
Namibians urged to embrace diverse sectors to combat economic challenges
01:59

Namibians urged to embrace diverse sectors to combat economic challenges

By: Hertha Ekandjo The Daures Green Hydrogen Village (DGHV) Chief Executive Officer Jerome Namaseb, has called on Namibia to diversify its economic sectors to effectively address pressing issues such as food insecurity and unemployment. He emphasized that embracing emerging industries like green hydrogen can significantly broaden employment opportunities and reduce the nation’s reliance on imported goods. “Namibia should be open to welcoming different sectors and projects over being selective,” Namaseb stated, highlighting the potential of projects like DGHV to increase local food production and decrease dependency on imports. Namaseb was speaking during a Daures media site visit on Tuesday in the Erongo region. The DGHV has initiated a climate-controlled greenhouse facility aimed at producing approximately 500 tonnes of tomatoes and 600 tonnes of carrots annually. These vegetables are currently available in local markets through retailers such as Woermann Brock, Metro, and Spar, contributing to reduced food imports and enhanced food security within the country. In addition to agricultural produce, the DGHV is pioneering the production of green ammonia, a key component in fertilizers like ammonium sulfate and nitrate. This initiative aims to produce up to 30% of Namibia’s fertilizer needs, thereby reducing import dependency and supporting local agriculture. The DGHV project has already created employment opportunities during its construction phase and plans to expand its workforce as operations scale up. The project emphasizes local involvement by awarding contracts to small and medium enterprises from the Daures constituency. Beyond agriculture, the DGHV is at the forefront of establishing a green hydrogen economy in Namibia. The project aims to produce green hydrogen and ammonia using renewable energy sources, positioning the country as a potential exporter of these clean energy carriers Watch on oneafrica.tv, DStv or GOtv at 19h00 on Mondays to Fridays. #newsonone #agrionone #newsupdate #oneafrica
Contact Number: +264 61 383450 /  +264 83 000 1000

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Windhoek, Namibia
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