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namib times
SERVING THE COASTAL COMMUNITY SINCE 1958 NO 6958 FRIDAY 1 APRIL 2022 Tel: +264 64 - 205854 / +264 64 - 461866 /Fax: +264 64 - 204813 / 064 - 461824 / Website: www.namibtimes.net
Fishing giant takes hit from the underdog Piquet Jacobs
Skeleton Coast Trawling (Pty) Ltd, a subsidiary of NovaNam Ltd, took a loss in a classic case of David vs Goliath when the final ruling in an extraordinarily lengthy arbitration case was awarded in favour of Nautilus Fishing Industries (Pty) Ltd, a previously disadvantaged company. According to the arbitration award registered on the Namibian eJustice System, the arbitrator found that Skeleton Coast Trawling not only failed to properly account to its joint venture partner, Nautilus Fishing Industries, they also did not execute any of their fiduciary duties as is required by the Companies Act of 2004. The extent of these gross irregularities is of such a nature that to date no financial statements have been compiled by Skeleton Coast Trawling or any auditing company. The expert forensic accountant witness for Skeleton Coast Trawling, as well as the financial manager, Mr Gusta Van Zyl testified to the shortcomings and deficiencies of accounts, divulging that business within the joint venture was carried out so poorly that Skeleton Coast Trawling can be held criminally liable for their conduct. The general opinion of sources in the fishing industry about this arbitration ruling is that the majority of Namibian fishing right holders find themselves in similar positions, as in the case of Nautilus Fishing Industries. They are caught in this gun to the head approach by corporate fishing companies, who render them powerless with a 'take it or leave it' attitude when it comes to the formation of joint ventures. This is believed
A team of doctors and veterinarian experts have arrived in Africa to demonstrate their fantastic achievement. The team has chosen Namibia for one of their many demonstrations. This is due to the constant air thermals which frequent our country. The good news is that these thermals occur at the required speed and altitude at the coast. The town of Walvis Bay has been chosen due to its wide-open spaces and good thermal air currents. This is indeed wonderful news and will surely stir up some excitement in our town. The flight plan has been given the right of way by the Namibian Airports Authority. The ostriches will then be fitted with receivers. The receivers will guide them to the designated landing area similar to that of a small airport landing strip. According to the team, the ostriches will take off from dune 7 on Friday, 1 April between 17:00 and 17:30, once the air thermals have been located, and they will be arriving at the designated landing area at 17:45 on the grassed area opposite the Flamingo Villas Hotel. Once these birds have landed, they have been trained to stand perfectly still so that they can be touched and photographed. These
Homeless man that charged Ministry of Home Affairs found dead
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to not only impede previously disadvantaged joint venture companies from growth but defeats the purpose of the fisheries white paper of 2002 which envisions a substantial previously disadvantaged persons participation as owners in the fishing industry. The corporate giants in the fishing industry continue to however treat previously disadvantaged Namibians with
Noble shocked when he saw drugs in container
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Walvis Bay chosen for avant-garde achievement demonstration ostriches are so well trained they pose for the camera and proudly show their A little-known country, by the name of Astrisia has made history by genetically altering the physical make-up of ostriches, in a breakthrough achievement that now has enabled ostriches to fly.
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fantastic wing span. Ostrich eggs will be handed out for free and one will be able to ride these birds. Races will be arranged with prizes for the winning persons. Note that these birds can reach speeds of up to 60 km per hour on grass, therefore motor bike helmets will be handed out to the brave at heart. It should further be noted, that due to the high speed they will want to take off. Once again, the training takes over and they will not take off while running races. It should further be noted that these birds are addicted to beer and will gulp down a six pack after every race. According to the experts, this Continues on page 2
Fuel Price increase April Fuel pump prices at Walvis Bay will cost N$19.10 per liter, and Diesel will cost N$20.23 per liter from Wednesday, 6 April. The Ministry of Mines and Energy, after a review of international oil prices and exchange rates, announced yesterday morning, an increase in Namibia's fuel prices for the month of April. The petrol price will increase with N$1, 95 per liter, and diesel with N$2,95 per liter.
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World Skills Africa Swk 2022
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Sports News Page 16