N$1.1 million for workers

At a handing-over ceremony on 22 August 2019 the trustees of the Embwinda Fishing Workers’ Trust received a cheque for N$ 1, 1 million from Cadilu Fishing to distribute to the employees of Embwinda Fishing.

Mrs Mbumba, representing the shareholders of Cadilu Fishing who is a Right holder and shareholder of Embwinda Fishing, handed over the cheque at the occasion and said that Cadilu is pleased to recognise and reward the employees. “In today’s tough economic climate, it is so much more gratifying to be able to give back to our hard-working employees. It is thus with great pleasure that we recognise our employees’ contributions to the success of Cadilu Fishing and Embwinda Fishing. We thank you for your commitment.”
Fransisco Fransisku, trustee of the EFWT, conveyed the gratitude of the employees and said that they appreciated the gesture by Cadilu Fishing. “We are grateful to Cadilu Fishing for the funds received and for recognising our contributions as employees. We also thank Embwinda for creating a conducive workplace.”
In recognition of the employees of Embwinda who catch and process Cadilu’s quota, Cadilu founded the Embwinda Fishing Workers Trust. Through this trust, employees collectively hold a 12% interest in Cadilu Fishing (Pty) Ltd which enables them to collect dividends based on Cadilu’s economic performance. The Embwinda Fishing Workers Trust is managed independently by trustees who are employees of Embwinda and appointed by them. From Cadilu’s 2018 income, the trust will distribute N$1.1 million to the employees of Embwinda. Each of Cadilu’s eligible employees receives an equal amount from this dividend and may utilise their funds based on their needs and wants.

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