From Africa Recovery, Vol.12#4 (April 1999), page 22 (box within special feature "Namibia: Country in Focus")

Other key sectors of the Namibian economy

'Gold' from the sea
While mining contributes the greatest share of export revenue, fishing is now the most important foreign exchange earner after diamonds and has enormous potential. The ice-cold waters off the Namibian coast provide some of the world's richest fishing grounds. Species caught include hake, horse mackerel and pilchard, as well as lobster and crab. Since the government established a 200-mile Exclusive Economic Zone in 1990 and controlled illegal over-exploitation by foreign vessels, particularly Spanish fleets, the fishing industry has prospered.

Its contribution to GDP increased from 3.9 per cent in 1991 to 7.6 per cent in 1994. The 1995/96 "fish drought," brought about by warm seas, hit the industry and underlined the need for conserving the fish stock for a sustainable fishing industry. However, in good climatic conditions, the industry typically grows at 6 per cent a year.

Fish sales make up 30 per cent of Namibia's export income, estimated at $350 mn. But fishing fleets are largely foreign-owned, although this is slowly changing, as they are increasingly being 'Namibianized' through black empowerment and affirmative actions being pursued by the government.

Tourism set to grow tremendously
With tourism becoming one of the fastest growing industries, investment is high and growth of 10 per cent per year is projected. Tourist arrivals increased by almost 9 per cent, from 461,310 in 1996 to 502,012 in 1997 and European tourists more than doubled in 1993-97. "We estimate that tourism will be the largest contributor to national GDP in six or seven years," says Mr. Hennie Fourrie, Director of Tourism at the Ministry of Environment and Tourism

By 2002, tourism will contribute around N$2 bn to GNP, according to Ms. Maria Kapere, the Director of Resource Management in the Ministry. At present 13,000 Namibians are employed directly in the industry and a further 13,000 in support industries.

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