Namsov not after ‘super profit’

Namsov Fishing Enterprises legal engagement with the Ministry of Fisheries and Marine Resources ( MFMR) continues despite the larger part of the matter being under trial or being considered by court.

At a media briefing held last week Friday, in a quest to lucidly paint a picture on the basis of their legal actions and to provide some of their insights, Bidfish managing director, Jan Arnold said, “I am sure you are all aware of our litigation with the MFMR. The legal process continues in 2015 and the larger part of it remains sub-judice. However, an overview of the process, why we eventually decided to engage legally with the MFMR and what we seek is important for the nation to understand.” Said Arnold, “we are acting well within the Namibian Constitution which also governs the Marine Resources Act and as corporate citizens of the economic sector we seek an administrative review and pronunciation of the MFMR on quota allocation.
According to Arnold, “we have been accused to be majority foreign owned which if you understand our story and see our ownership statistics is contradictory. This has and will remain a majority owned Namibian enterprise that continues to invest in Namibia. “The basis of our legal case was perceived as wanting more quota to continue making what was titled “super profits”. The Investment Act of Namibia, and the general economic environment driven by the Namibian Government’s mandate through the Ministry of Trade and other corresponding arms, encourages investment in Namibia; both local and foreign,” he said. “We are cognizant of what real investment means and our business practice and ethics has sustained our position. In this breath, we desire to express that we didn’t seek more quota. We merely seek to protect our investments and shareholders’ interests from being eroded without what we believe to be legal substantiation,” he added. Arnold said the list goes on, however he said “we are not here to have a pity party, nor do we want to point fingers. We believe we as Namsov have an important part to play in the industry. This is to grow in it, to help others grow the economy and also assist in furthering the Governments development agenda.” Added Arnold, “We seek to continue to support this Government. This will never change, for as long as this company is in the hands of Namibians. And it will continue to seek leadership guidance for engagement.”
In the meantime he said Namsov will continue to ensure that they do their best with the national resource allocated to them by the government to ensure that the value of the Horse Mackerel they harvest benefits Namibia.