Probe unearths ‘unknown beneficiaries’ in N$175m Fishrot

By Hilary Mare

BETWEEN 2018 and 2019, 70 000 metric tonnes of horse mackerel quotas with an estimated value of N$175 million were diverted from Seaflower Pelagic Processing (SPP) to unknown beneficiaries by Fishcor in contravention of government agreements (GN99/2016 and GN113/2017), a damning preliminary  forensic investigation into the irregularities concerning SPP has unearthed.

This new revelation that adds to the Fishrot losses under Fishcor is believed to have deprived SPP and its stakeholders such as employees, treasury, contractors, government and the Walvis Bay community millions of dollars that were destined for job creation and national development.

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