Namibia's fishing sector is pivotal to the country's economy, contributing 4.1% to the GDP and 15% to export revenues. Governed by the Ministry of Industrialisation, Trade, and Small and Medium Enterprise Development (MITSMED) under the Foreign Investment Act of 1990, the sector is buoyed by Namibia's membership in the Southern African Customs Union (SACU) and the Southern African Development Community (SADC). The industry is notably diverse, including marine, freshwater, and aquaculture sub-sectors. The fisheries industry is a significant revenue generator, with marine landings alone totalling around 550,000 tons and an average worth of NAD 10 billion (approx. 625 million EUR) as of 2017. Primarily, the exports include hake and horse mackerel. Namibia ranks third in Africa and 30th globally in fish capture, emphasising the sector's economic potential. Despite its promising outlook, the industry grapples with illegal fishing, high operational costs, and limited access for disadvantaged communities. Furthermore, over-exploitation and the decline of certain fish stocks add a layer of complexity to the challenges faced. The government has actively been implementing policies to foster sustainability and equitable development. The report assesses the sector's organisational performance and readiness for change.
