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New CEO and Board at Gendev Fishing

Volker Paulsmeier

The newly formed Gendev Fishing Group last week announced the appointment of the widely experienced Pau Iilonga as Chairman of the Group, while Volker Paulsmeier has been confirmed as Chief Executive Officer. These announcements were made after the first 2015 board meeting following the recent formation of the Group.

Pau Iilonga

Gendev Fishing Group’s structure was finalised at the beginning of this year following negotiations between the parties. Said Iilonga: “Gendev proposed the restructuring of its shareholding in 2014, with Camoposato Investments (Pty) Ltd and Vernier Investments (Pty) Ltd becoming shareholders. The final agreed shareholding structure resulted in the formation of a new company, and one of the first milestones worth mentioning is the fact that it is now 72% Namibian-owned.” Gendev Fishing Group is now made up of Camoposato Investments; Vernier Investments, Eco Fish Processors, Guinas Investments and Suiderland Development Corporation Ltd.
Paulsmeier, CEO of the newly formed group added that more highlights of the group could already be celebrated with the opening of the first land-based horse mackerel processing factory in Namibia, and the support received from the government and their confidence of this business model. “These have not been the only major achievements to date – we are even more delighted with the fact that we have been able to create an additional 600 to 750 jobs throughout the year, with at least 275 people per shift. The introduction of two 9-hour shifts and the utilisation of around 30000 tons quota available sustains a 12-month operation and enhances the lives of many Namibian workers and their families as they are guaranteed an income throughout the year. That is the best outcome to us of the restructuring process thus far.”
Other members of the new Board of Directors are: Mr N. Kaiyamo , Mr Robert Shimooshili , Mr J. du Preez , Dr C.A. Neethling, Mrs M. Shingenge-Haipinge , Mr S de Gouveia , Mr P Alfheim, Mr E Nekuta and Ms L Edwards.

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