Namibia’s First Salmon Farm Nets N$41 Million, Sets Sights on Global Market - ISSUE #43☕

Midweek Briefing: Namibia’s Latest in Business, Finance, Livestock, Education & Culture

Happy Wednesday! Here’s what’s making waves across Namibia this week:

• Namibia’s First Salmon Farm Nets N$41 Million, Sets Sights on Global Market
  A landmark investment kickstarts the country’s inaugural salmon farming project off Lüderitz, aiming to produce 1,000 tonnes initially and scale up to 51,000 tonnes annually for local and international markets.

• Namibia’s Currency in Circulation Hits N$5.6 Billion as Bank Unveils Upgraded N$50 Note
  The Bank of Namibia reports a 6.9% increase in cash circulation post-pandemic and launches a redesigned N$50 note featuring Governor Johannes !Gawaxab’s signature, reinforcing national pride and currency security.

• Namibia’s Livestock Sector: Herd Rebuilding and Tight Supply Set the Tone for 2025
  Following last year’s drought, farmers are rebuilding herds, leading to a sharp drop in market-ready animals and a contraction in exports, while livestock prices climb amid tightening supply.

• Education Minister Steenkamp Commits to Quality ‘Free’ Education in Namibia by 2026
  Namibia is gearing up to offer tuition-free public tertiary education, backed by robust funding and reforms to ensure access, quality, and inclusion across universities and vocational training centers.

• For the Bookworms: 6th AfLIA Conference & 8th African Library Summit at Mercure
  Starting this weekend in Windhoek, this major event gathers African library and information professionals to discuss open knowledge, AI, and decolonizing education content.

Stay tuned for deep dives and expert insights on these stories shaping Namibia’s economic and social landscape.

BUSINESS & ECONOMY

Namibia’s First Salmon Farm Nets N$41 Million, Sets Sights on Global Market

Namibia’s aquaculture ambitions are making waves: the African Aquaculture Company (AAC) has secured N$41 million in investment for the first phase of the country’s inaugural salmon farm off the coast of Lüderitz. Backed by a coalition of Norwegian and Namibian investors, this project is poised to redefine Namibia’s role in the global seafood industry.

A New Chapter for Namibian Aquaculture

The initial phase targets an annual production of 1,000 tonnes of premium Atlantic salmon, with bold plans to scale up to 51,000 tonnes across three licensed offshore sites. The pilot harvest will supply both local and international markets, with southern Africa, the Middle East, and Europe flagged as key destinations.

“These funds, bolstered by Norwegian export finance guarantees, will enable the first steps of production, starting with smolt farming and the development of key infrastructure,” AAC announced.

From Lüderitz to the World

AAC CEO Helge Krøgenes says the financing is more than just capital-it’s the launchpad for Namibia to become a serious contender in the global salmon trade. “The collaboration with Norwegian and Namibian investors underscores our shared commitment to economic growth, technological innovation, and the sustainable management of marine resources,” Krøgenes notes.

The operation will harness state-of-the-art Norwegian aquaculture technology and the cold, nutrient-rich waters of the Benguela Current-ideal for salmon farming with temperatures ranging from 10 to 16°C.

Jobs, Skills, and Sustainability

At full capacity, the project is expected to create more than 5,000 direct and indirect jobs. AAC country director Clement Kaukuetu highlights the focus on local skills development: “This project is a beacon of opportunity for Namibia. It will not only create jobs but also equip the local population with skills to thrive in the burgeoning global aquaculture industry.”

Norwegian experts will provide technology transfer and training, ensuring Namibians are at the forefront of this new sector.

A Model for Sustainable Growth

AAC vice president Torben Foss points out that the company’s mission aligns with the United Nations’ call for sustainable aquaculture expansion to meet growing global demand for marine proteins. “Namibia’s political stability and favourable investment climate have played a key role in attracting funding and making this project feasible,” Foss adds.

The Bottom Line

Namibia’s first salmon farm is more than a business venture-it’s a strategic leap into sustainable aquaculture, job creation, and global market integration. With international backing and local expertise, the Lüderitz project is set to put Namibian salmon on dinner tables from Windhoek to Europe and beyond.

Source: The Namibian

Namibia’s Currency in Circulation Hits N$5.6 Billion as Bank Unveils Upgraded N$50 Note

Namibia’s cash economy is on the rise. By the end of 2024, the total value of Namibian currency-coins and banknotes-circulating in the economy climbed to N$5.6 billion, marking a 6.9% jump from the previous year’s N$5.2 billion. Bank of Namibia (BoN) governor Johannes !Gawaxab attributes this uptick to post-pandemic economic momentum and renewed public confidence in the Namibia Dollar as a reliable store of value.

A New Era for the N$50 Note

The announcement came as the BoN launched its modified N$50 banknote in Windhoek, now featuring the signature of Governor !Gawaxab-a key security and authentication upgrade. “Today, we complete this cycle with the unveiling of the modified N$50 banknote,” !Gawaxab said, highlighting the note as the final step in a multi-year currency enhancement drive that included upgrades to the N$10, N$20, N$100, and N$200 denominations. The new N$50 is available to commercial banks and will be in the hands of the public from today.

Currency as National Pride-and Responsibility

!Gawaxab urged Namibians to treat their currency with respect, noting that mishandling and defacement create a need for costly replenishment. “Our currency is not just a means of exchange but a reflection of our nation’s pride,” he emphasized. The BoN has observed a post-Covid surge in cash usage, but also a worrying trend of banknotes being damaged or defaced.

Counterfeit Threat Down, Security Up

There’s good news on the security front: 2024 saw a 10.7% decline in counterfeit banknotes, thanks to enhanced security features and public vigilance. “Counterfeit deterrence is a matter of public trust and institutional credibility. When citizens know that the currency they hold is secure, they transact with confidence,” said !Gawaxab.

Digital Payments on the Horizon

Looking ahead, the central bank is preparing to launch an instant payment system and is exploring offline payment solutions for areas with limited connectivity-signaling a push toward digital transformation while maintaining robust physical currency infrastructure.

Why the N$50 Note Matters

Cindy Fillipus, BoN’s deputy director for currency and banking, explained that the new note’s printing ensures the governor’s signature is present for authentication. The N$50 is in high demand for daily transactions, making its security and durability crucial.

The Bottom Line

Namibia’s currency is more than cash-it’s a symbol of trust, stability, and national identity. With circulation at a record high and security measures upgraded, the BoN is balancing tradition and innovation as it steers the country into a new era of financial confidence.

Source: The Namibian

Namibia’s Livestock Sector: Herd Rebuilding and Tight Supply Set the Tone for 2025

Namibia’s livestock sector entered 2025 on a cautious note, as widespread herd rebuilding efforts-spurred by good rains early in the year-triggered a sharp drop in market-ready animals. Farmers, buoyed by improved grazing conditions, are holding onto their stock, leading to a squeeze in supply across major marketing channels.

Herd Retention Drives Market Contraction

According to the Livestock Producers Association, the sector saw contractions nearly across the board. “This has consequently led to contractions across all sectors, except for the pig sector, which grew during the first quarter of 2025. Livestock prices, on the other hand, improved as limited supply of animals drove up shortages,” explained trade and strategic marketing statistician Fransina Angula.

Market-ready cattle numbers plummeted to 37,577-a staggering 58% drop from the 89,507 marketed in the same period last year. The aftershocks of the 2024 drought still linger, with many farmers having already sold down their herds to survive tough conditions. Now, with herds depleted, the market is feeling the pinch.

Exports and Abattoirs: A Downward Spiral

Live exports, typically the largest segment, collapsed by 79.8%. Export-approved abattoirs saw throughput fall by 24.2%, while domestic abattoirs were less severely affected but still felt the contraction. “Export-approved abattoirs declined by 22% during the quarter under review,” Angula noted.

Despite the downturn in volumes, prices for live cattle and beef remained buoyant. South of the veterinary cordon fence, B2-grade beef averaged N$69.89/kg-up N$9.02/kg year-on-year. Weaner prices also surged, averaging N$29.13/kg, a 17.7% increase from the first quarter of 2024, as supply shortages drove competition at auctions.

Disease Outbreaks and Export Challenges

The sector faced additional headwinds from a lumpy skin disease outbreak, which led to movement restrictions and further tightened supply, especially south of the redline. Beef exports for the quarter dropped to 1.43 million kg, down 51.4% from 2.94 million kg in 20244. The European Union remained the top destination, taking 84.2% of Namibia’s beef exports, followed by Norway, the UK, China, and South Africa.

Small Stock and Goats: No Relief in Sight

Sheep slaughter numbers fell sharply at both export-approved (-53.9%) and local abattoirs (-21.6%), with live exports down 44.2%. Mutton exports plunged by 63.3%, with only 82,707 kg shipped to South Africa, Botswana, and Norway-far below last year’s 225,411 kg. Goat marketing also declined 15.1%, with 20,758 goats sold versus 24,442 in 2024.

Pigs and Poultry Buck the Trend

The pig sector was the lone bright spot, with abattoir throughput rising slightly to 12,324 pigs. Pork imports soared by 74.1%, reflecting robust demand and the continued success of the Pork Market Share Promotion Scheme. In poultry, 4.4 million chickens were slaughtered and 23.6 million eggs produced locally, while processed chicken exports reached over 3 million kg to regional markets.

The Bottom Line

Namibia’s livestock sector in early 2025 is defined by scarcity and recovery. Herd rebuilding after last year’s drought has tightened supply, driving up prices but squeezing export volumes and throughput at abattoirs. While pigs and poultry offer some resilience, the sector’s overall recovery will hinge on how quickly herds can be rebuilt and whether favourable weather persists. The market remains a case study in how climate, disease, and producer strategy shape the fortunes of a nation’s agricultural backbone.

Source: The Namibian

EDUCATION

Education Minister Steenkamp Commits to Quality ‘Free’ Education in Namibia by 2026

Education Minister Sanet Steenkamp has reaffirmed Namibia’s commitment to providing high-quality, fully subsidised tertiary education at public institutions starting in 2026. This bold government initiative aims to remove financial barriers for students while ensuring academic standards remain strong across universities and technical and vocational education and training (TVET) centres.

Funding Model for Private Institutions in the Works
In preparation for the rollout of free tertiary education, the Ministry of Education plans to develop a funding model for private higher education institutions by September 2025. This model will ensure equitable access and inclusivity, with extensive consultations planned among stakeholders to guarantee no one is disadvantaged as the new system takes shape.

Robust Financial Commitment
The government’s investment in higher education is substantial. In the most recent fiscal year, N$3.5 billion was allocated to public tertiary institutions and student financial assistance, with N$2.2 billion directly supporting public universities. The Namibia Students Financial Assistance Fund (NSFAF) will be reintegrated into the Ministry of Education by October 2025 to streamline funding and improve efficiency.

Maintaining Quality and Access
Minister Steenkamp emphasized the importance of upholding academic standards and revisiting fields of study to better align with national priorities. The ministry is also reviewing the inclusive student loan scheme to support the vision of a stronger, more accessible education system. The government recognizes the vital role private institutions play in Namibia’s human capital development and aims to integrate them fairly into the new funding framework.

Looking Ahead
The free tertiary education initiative will cover tuition and registration fees at public universities and TVET centres, accompanied by investments in infrastructure and digital connectivity. While details on coverage for postgraduate studies are still being finalized, the government’s focus remains on universal access to quality higher education as a driver of social and economic transformation.

Summary
Namibia is on track to launch a landmark free tertiary education programme by 2026, backed by strong financial resources and a commitment to quality. Through inclusive funding models and strategic reforms, Minister Steenkamp and her ministry aim to make higher education accessible to all Namibians while maintaining academic excellence and supporting private institutions.

Source: The Namibian

EVENTS