Namibian investment company Omankete Investments has invested N$40 million in African Aquaculture Company’s (AAC) pioneering offshore salmon farming project near Lüderitz.
Omankete is the first private Namibian investor in the venture.
The investment comes as Namibia moves ahead with plans to establish its first salmon farming industry and increase local participation in the sector.
AAC announced the investment last week, with country director Clement Kaukuetu welcoming the move.
He said it shows Namibians are becoming active participants in the industry alongside international partners.
“We are happy Namibians and Namibian institutions are taking ownership and truly Namibianising salmon farming in cooperation with Norwegian investors,” he said.
Omankete Investments managing director Oscar Shigwana last week said the company sees strong potential in salmon farming.
He said the investment will help accelerate the development of the industry while creating economic opportunities for Namibians.
Shigwana said salmon farming has the potential to contribute to economic growth and strengthen local investment capacity.
The investment follows the launch of Namibia’s first salmon farming project last month after AAC secured N$41 million in funding for the first phase of the development.
The project, located near Lüderitz in the ||Kharas region, is being developed through a partnership between Namibian and Norwegian investors.
The funding forms part of a larger financing package valued at about N$123 million.
The financing package includes support from Norwegian export finance-backed loans and Namibian financial institutions.
Nordic investment bank ABG Sundal Collier is among the institutions supporting the project by providing capital and aquaculture expertise.
The first phase will focus on smolt production and the development of infrastructure required for salmon farming.
AAC plans to produce 1 000 tonnes of Atlantic salmon per year during the initial phase.
If successful, the company plans to expand production to 51 000 tonnes annually across three licensed offshore farming sites.
Alongside the investment announcement, AAC revealed that it has signed an agreement with the Namibia University of Science and Technology.
The agreement aims to prepare Namibians for jobs in the salmon farming industry and strengthen local skills development.
The partnership will focus on curriculum development, research, innovation, staff and student exchange programmes, as well as training opportunities for students and lecturers.
Kaukuetu said local skills development remains a key part of the company’s plans.
“With this approach, we will be able to ensure that salmon farming harnesses, trains, develops and employs indigenous labour,” he said.
