Foreign investment in fishing activities is subject to a 49% foreign shareholding limit.
"PART VI - COMMERCIAL HARVESTING OF MARINE RESOURCES
Prerequisites to harvesting
32. (1) Except as may be otherwise provided under this Act, no person shall in Namibia or in Namibian waters harvest any marine resource for commercial purposes, except under a right, an exploratory right or a fisheries agreement.
[...]
Right to harvest marine resources
33. (1) The Minister may from time to time, by notice in the Gazette, announce a period during which applications may be made for rights to harvest for commercial purposes any marine resource, and the conditions on which such marine resource may be harvested, and the Minister shall not consider any application received outside such period.
(2) A person who wishes to apply for a right referred to in subsection (1) shall submit an application to the Minister in the manner prescribed.
(3) The Minister may, subject to subsection (4), grant a right to harvest any marine resource for commercial purposes to any person who applies for such a right under subsection (2), subject to such conditions in addition to those specified in the notice under subsection (1) as may be determined by the Minister.
(4) When considering, an application for a right, the Minister may have regard to - (a) whether or not the applicant is a Namibian citizen; (b) where the applicant is a company, the extent to which the beneficial control of the company vests in Namibian citizens; (c) the beneficial ownership of any vessel which will be used by the applicant;[...]" (Marine Resources Act 27 of 2000)
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"3. GRANTING OF RIGHTS TO HARVEST MARINE RESOURCES
Granting of fishing rights is one of the current fisheries management systems in Namibia. The main purpose of these rights is to limit the number of entry and control fishing for resource management purposes. In addition the rights base system has also been used to promote Namibianisation of the sector.
[...]
4. NAMIBIANIZATION AND FOREINGN OWNERSHIP
Namibianisation refers to the measures undertaken through the fisheries policy of Namibia, which is aimed at securing increasing benefits for Namibia, especially through onshore development. While priority will be given to Namibians and Namibian businesses as far as granting of rights and allocation of quotas are concerned, scope is provided for foreign investment through joint ventures or wholly owned foreign ventures:
a. Foreign investors who would like to participate in fishing ventures will be expected to cooperate with Namibian businesses through joint ventures. However, in exceptional cases rights may be granted to wholly foreign owned ventures: -where the foreign investment can be shown to contribute to economic and overall development in Namibia; -where there is an appropriate plan for Namibianisation of the business.
b. Applications by new joint ventures should be based on the expectation that rights will be granted to the Namibian participants in the venture.
c. For existing joint ventures, priority will be given to applications from the Namibian partners, considering the level of ownership and control of the Namibian interests. Rights may also be granted to the existing joint venture right holders rather than to the Namibian partners, with the agreement of the Namibian, where it can be shown that the joint venture business and Namibia will benefit.[...]" (POLICY STATEMENT (GUIDELINES) FOR THE GRANTING OF RIGHTS TO HARVETS MARINE RESOURCES, 2013)
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"Interpretation
1. (1) In this Act, unless the context otherwise indicates -[...]
"foreign national" means -
(a) a person who is not a citizen of Namibia;
(b) a company incorporated under the laws of any country other than Namibia;
(c) a company incorporated within Namibia in which the majority of the issued share capital is benefically owned by foreign nationals within the meaning of this definition;[...]
"Namibian" means a citizen of Namibia and includes a company incorporated under the laws of Namibia in which the majority of the share capital is owned by Namibians within the meaning of this definition.[...]" (Foreign Investments Act 27 of 1990)
Marine Resources Act 27 of 2000
POLICY STATEMENT (GUIDELINES) FOR THE GRANTING OF RIGHTS TO HARVETS MARINE RESOURCES, 2013
Foreign Investments Act 27 of 1990
[<a href="https://www.lac.org.na/laws/annoSTAT/Marine%20Resources%20Act%2027%20of%202000.pdf">Act</a>],[<a href="https://mfmr.gov.na/documents/411764/417987/POLICY+STATEMENT+%28GUIDELINES%29+FOR+THE+GRANTING+OF+RIGHTS+TO+HARVETS+MARINE+RESOURCES.pdf/427b96bf-6572-5df4-6cc5-d5d62d547480">Pol</a>],[<a href="https://mit.gov.na/documents/41692/88494/1+Foreign+Investment+Act.pdf/45f765c6-7f31-edfa-3a6e-f8b411f6f25a?version=1.0&t=1603782678048&download=true">Act</a>]