Gendev Fishing announces 30 % salary cut

One of Walvis Bay’s main investors and job creators in the fishing industry, Gendev Fishing Group, announced this week that a salary cut of 30 % is to become effective across the business at the end of December. The Company informed workers accordingly in the presence of representatives of the Namibia Food and Allied Workers Union (Nafau).

Gendev operates a land-based horse mackerel processing plant in Walvis Bay, employing some 600 people.
Gendev has not seen an economically viable horse mackerel quota allocation since 2015. The Company needs an annual quota of 35 000 metric tons to operate financially viable. This year’s quota is for instance 12 000 metric tons only.
The General Manager of Gendev, Mr Pieter Strydom on Monday informed workers of the salary cut. He described it as unavoidable. Strydom urged the Minister of Fisheries and Marine Re-sources to take a critical look at its quota allocations, as it is ruining the fishing industry.

Fishing companies are pressured by Government to invest in land-based processing facilities and fishing vessels, but quota allocations are poor. It leads to investor discouragement, as companies are not getting a return on investment.
It is not known for how long the salary cut would be effective. Gendev’s processing plant is already closed since July this year.

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