‘We must use the money wisely’

More than 200 permanent employees of the Erongo Marine Enterprises (EME) (Pty) Ltd and Commercial Cold Storage Namibia (CCS Namibia) were overjoyed on Monday when the company’s managing director, Martha Uumati, transferred their share of over N$13 million into their bank accounts.

The EME Workers Trust (EMHW) distributed N$13 195 000 to 203 employees who are shareholders.

“We must use our money wisely. I would like to contribute a certain amount to the less fortunate because they are near to my heart. I just want to appreciate what I’ve got and share,” said Agnesia Feris.

“I am so grateful. I will spend my money on housing and the children’s school expenses. I will not waste it,” said Johannes Mwangela.

“We must use the money wisely. Let us spend it on our houses and families. Let us not be overexcited and use it on drinking,” cautioned Max Shipaxu.

The trust was established in 2017 to ensure broad-based economic empowerment of the company’s permanent employees, of which most are employed as fishermen on board EME’s two fishing vessels.

The permanent employees were given shares in the horse mackerel right holding company, Arechanab Fishing and Development Company (AFDC), of which EME is a shareholder.

The trust is also a 31% shareholding partner in CCS Namibia.

By owning shares in Arechanab, the employees derive a financial benefit from the allocated quota and thus earn a direct income from this natural resource.

The current payout originates from the dividends received from AFDC in December 2022, and CCS Namibia in March 2022 and March 2023, respectively.

The beneficiaries thus each received a payout of N$65 000 before tax, which is the trust’s largest pay-out since its establishment.

“Today you reap the benefits of your hard work through this pay-out. This makes me tremendously proud to lead this extraordinary company. Our crew is very close to my heart. They are the lifeblood of our business. Without their hard work under very difficult circumstances at sea, there would be no Erongo Marine Enterprises. In fact, there would be no fishing industry without fishermen,” said EME managing director Martha Uumati.

“It is on their labour and through their sacrifices that this very important economic sector has been built. Yet, often very little recognition is given to the workforce. It is my humble and solemn appeal that entities in the fishing sector would acknowledge this more and give our fishermen and factory workers the recognition and reward they deserve,” she said.

The trust, through dividends derived from AFDC, also paid out more than N$10 million to EME employees between 2018 and 2022.

“It is clear that this money helps. They always look forward to it. They received their first payout of about N$39 000. We witnessed that it was utilised well. Some have put up structures. We went to a funeral of one of our crew members and we saw at his homestead that it really contributed positively,” she said.

She noted that being shareholders served the purpose of creating ownership for the employees who now have a transformed positive attitude and there are fewer industrial issues at the company.

Many of the beneficiaries were at sea when they received their banking deposit notifications.