Namibia eyes billion-dollar fish waste innovation opportunity
Namibia’s fishing industry is setting its sights on a multi- billion-dollar opportunity by transforming fish waste into high-value products — from Omega-3-rich hake liver oil to collagen-based cosmetics and even medical treatments.
According to fisheries expert and Namibia Ocean Cluster associate, Dave Russell, what is currently discarded at sea could form the foundation of a new, job-creating sector focused on health, wellness, and industrial applications. Russell noted that Namibian vessels presently discard heads, guts, and skins at sea, despite their considerable potential in secondary industries.
“Beyond industrial uses, fish skins are being used internationally for medical treatments. In countries like Brazil, tilapia skins are applied to burn wounds and chronic ulcers. They assist with skin regeneration and reduce healing time,” he noted. As such, he stressed the need for collective action through platforms like the Namibia Ocean Trust to drive product innovation and industrial transformation.
Namibia's first salmon farming project secures N$41m in equity financing
The African Aquaculture Company (AAC) has secured N$41 million (€2 million) in equity financing to launch the first phase of its salmon farming venture off the coast of Lüderitz. The funding is backed by a strategic partnership between Namibian and Norwegian investors, with an option to scale up total equity financing to N$123 million (€6 million).
AAC plans to adopt cutting-edge Norwegian aquaculture technology to develop environmentally responsible salmon farming operations.
“This state-of-the-art operation will utilise the cold, nutrient- rich waters of the Benguela Current, with ideal temperatures ranging from 10 to 16 degrees Celsius,” he said.
The project is expected to significantly benefit Namibia’s economy, with forecasts suggesting the creation of over 5,000 direct and indirect jobs upon reaching full production.
Namibia’s hospitality sector sees 41.7% rise in room occupancy in March 2025
Namibia’s hospitality industry showed strong signs of recovery in March 2025 as the Rooms Occupancy Rate Index surged by 41.7%, on a monthly basis, rebounding from a contraction of 14.9% in February.
“A total of 60,369 rooms were available nationwide in March, of which 26,725 rooms (44.3%) were sold. In contrast, only 15,546 rooms (31.2%) were sold out of 49,772 available in February,” said NSA.
The Bed Occupancy Rate Index reflected similar trends, registering a 38.7% increase in March, recovering from a 21.1% decline in February. Year-on-year, however, the index declined by 17.6%.
“Across all accommodation types, bed occupancy increased compared to February. Guest houses led with 49.3%, followed by lodges at 39.2%, tented lodges at 36.2%, hotels at 33.0%, and rest camps at 20.0%,” said NSA.
Women representation lagging in financial sector
Executive for corporate affairs at Hollard Namibia and Chairperson of the Namibia Women in Finance and Insurance (NamWifi) Council Grace Mohamed says the financial sector is lagging behind in female representation.
“We are endeavouring to demystify the illusion, because the chances of getting a lady to be appointed as a board director of a financial institute are low. There are no ladies that can sit on the board of an insurance company, because the few that are there are already conflicted,” she said.
She said the Namibia Women in Finance and Insurance Summit (NWFIS) aims to drive transformative change within the sector for more female leaders to be included in the finance, insurance and investment space so that it can mirror the public sector.
NAMIFA’s Deputy CEO Erna Motinga says the Namibia Women in Finance and Insurance Summit, which is targeting 322 attendees and over 100 virtual delegates, will unveil a mentorship programme, particularly for young women in the financial and insurance space who will be matched with a reputable coach that the summit will finance.
Namibia's trade deficit widens by N$700 million in March
Namibia’s trade deficit widened by N$700 million in March 2025, driven largely by a sharp increase in petroleum oil imports, the Namibia Statistics Agency (NSA) has reported. According to the NSA’s latest trade bulletin, imports of petroleum oils surged by N$999 million from the previous month, contributing to a trade deficit of N$2.1 billion in that category alone.
Petroleum oils accounted for 20% of all imports during the month, sourced predominantly from India, Oman, and Italy. Namibia exported goods valued at N$10.1 billion in March, a slight decline of 0.4% from February.
Precious stones (diamonds) emerged as Namibia’s top export in March, making up 20.1% of total exports and destined mainly for Botswana and the United States.
“Fish came second, accounting for 13.6% of total exports, destined mainly for the Spanish, Zambian and the Democratic Republic of Congo (DRC) markets. Non-monetary gold occupied the third position, accounting for 12.4% of total exports, solely destined for South Africa. Uranium ranked fourth, accounting for 11.0%, with the commodity mainly destined for China and France,” the NSA said.
The Southern African Customs Union (SACU) remained Namibia’s primary export destination, receiving 38.5% of the country’s total exports for the month.
Meanwhile, the country’s import bill climbed to N$12.8 billion in March, a 5.2% increase from the N$12.1 billion recorded in February
