N$4 billion salmon project expected to transform Lüderitz economy
A new N$4 billion salmon aquaculture project in Lüderitz, Namibia, is expected to create 5,000 jobs and generate significant economic growth. The government has taken a 40% equity stake in the Africa Aquaculture Company to support the initiative.
Why it matters
This large-scale investment represents a major push for Namibia's blue economy and industrial development.
LÜDERITZ could see a major economic boost from a proposed N$4 billion salmon aquaculture investment that is expected to create about 5 000 employment opportunities and generate billions of dollars in economic activity for the town and Namibia.
The proposed project by the Africa Aquaculture Company (AAC) was discussed during a high-level working visit to the Lüderitz Town Council led by Deputy Minister of Industries, Mines and Energy Gaudentia Kröhne.
Kröhne was accompanied by officials from her ministry, AAC and the Namibia Industrial Development Agency (NIDA), with the delegation meeting council officials to discuss plans for a large-scale Atlantic salmon production operation in Lüderitz.
The company is targeting production of approximately 51 000 tonnes of salmon for premium international markets and has projected potential returns of between N$8 billion and N$9 billion.
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