Omankete Investments has taken a N$40 million stake in the African Aquaculture Company, becoming the first Namibian private investor in an offshore Atlantic salmon farming venture its developers describe as a new industry for southern Africa.
Omankete, which has a 25-year track record in Namibia's fishing industry, acquired the stake in AAC, which is developing an Atlantic salmon farming operation in the cold Benguela Current waters off Lüderitz.
Key player in the fishing industry, Omankete Investments, has partnered with the African Aquaculture Company (AAC) through a N$40 million investment aimed at boosting the emerging salmon farming sector and strengthening market confidence in the project.
Speaking at the Namibia Industrial Development Agency (NIDA) investment conference in Windhoek on Tuesday, Deputy Minister of Agriculture, Fisheries, Water and Land Reform Ruth Masake stated that industrialisation must be accompanied by sustainability to ensure the project’s success.
African Aquaculture Company (AAC) has announced a series of leadership appointments and a strategic partnership with the Namibia Industrial Development Agency (NIDA) as it advances plans to develop offshore salmon farming operations in the Benguela Current off the coast of Namibia.
African Aquaculture Company (AAC) has signed a partnership with Norway’s AKVA group to establish Africa’s first commercial sea-based salmon farming facility at Lüderitz Bay.
The project, licensed for 51,000 tonnes of production, is set to become one of the largest aquaculture ventures in the southern hemisphere.
The African Aquaculture Company (AAC) has completed financing for the first phase of its salmon farming project off the coast of Lüderitz, Namibia. The funding round, which secured €2 million in equity with further options for up to €6 million, marks a significant step toward establishing large-scale aquaculture production in the country.
African Aquaculture Company (AAC) has secured NAD 41 million ($2.34m) in initial equity financing from investors in Norway, South Africa, and China, with provisions to raise up to NAD 123m in total.
The project intends to farm salmon offshore near Luderitz, one of Namibia's coastal towns, better known for hake and mackerel fishing. Smolts are to be initially raised in Fisantekraal, South Africa.
African Aquaculture Company (AAC) announced the successful completion of financing for the first phase of its groundbreaking salmon farming project off the coast of Lüderitz. This initiative marks a critical step in transforming Lüderitz into a hub for salmon farming and processing, with infrastructure development and market-ready logistics systems already underway.
The African Aquaculture Company (AAC) has secured N$41 million (€2 million) in equity financing to launch the first phase of its salmon farming venture off the coast of Lüderitz.
The funding is backed by a strategic partnership between Namibian and Norwegian investors, with an option to scale up total equity financing to N$123 million (€6 million).
African Aquaculture Company (AAC) has announced that it has successfully secured a 15-year “Offshore Commercial Phase” licence to establish Sub-Sahara’s first commercial salmon farming and production facility.
The African Aquaculture Company (AAC) has completed financing for the first phase of its salmon farming project off the coast of Lüderitz, Namibia. The funding round, which secured €2 million in equity with further options for up to €6 million, marks a significant step toward establishing large-scale aquaculture production in the country.
The African Aquaculture Company (AAC) has completed financing for the first phase of its salmon farming project off the coast of Lüderitz, Namibia. The funding round, which secured €2 million in equity with further options for up to €6 million, marks a significant step toward establishing large-scale aquaculture production in the country.
Translated from the norwegian article:
The Oslo-based brokerage firm ABG Sundal Collier is engaged to raise capital. Investors who have expressed interest include Chinese, Namibian and Norwegian investors, as well as fishing companies.
The idea for the project comes from the Norwegian lawyer Torben Foss. At the turn of the millennium, he began taking on assignments in southern Africa while working in the legal department of the multinational consulting firm PWC.
Translated from the norwegian article:
The Norwegian company is working on developing aquaculture projects in Namibia and southern Africa. They will do this by combining local partnerships and Norwegian aquaculture expertise.
They are now recruiting additional Norwegian expertise for this venture.
Translated from the norwegian article:
Norwegian venture aims high.
iLaks has previously reported on the Norwegian aquaculture venture a few nautical miles off the coastal town of Lüderitz, on the southwest coast of Namibia. The African Aquaculture Company (AAC) has now secured financing for the first phase of its groundbreaking aquaculture project.
