In a move to create a fund that would source and coordinate financing for aquaculture in Namibia, the Ministry of Fisheries and Marine Resources is proposing to spend some N$12 million ($884,950 USD) on an aquaculture business development and investment promotion agency.
This announcement came just days after the release of the aquaculture master plan, that is intended to guide the establishment of an aquaculture development fund, so that goals for growth in aquaculture can be achieved. By 2023 when the plan winds down, it is hoped that output from aquaculture will increase from the current 525t a year, to more than 55,000t.
The success of the project will depend on the success of public and private partnerships. The adoption of new recirculation aquaculture technologies as well as a smooth, efficient approval process is also seen as an important consideration.
– Quentin Dodd