Namibia Businesses Attached Over Unpaid Fish Debt

Business and politics seldom mix well and a classic example of this is Namibia’s Gendev Fishing Group (Pty) Ltd, 97% controlled by Swapo through its business investment arm Guinas Investments. This week the local media reported that Gendev Fishing is closing down. Although this is yet to be verified despite the reports, the more immediate problem is the organisation’s subsidiary companies, Hodago Fishing and Kuiseb Fishing Enterprises (Pty) Ltd, which have been attached over a N$7.5 million fish debt.