Rights for hake deep-sea trawl fishery vital to the economy

The hake deep-sea trawl fishery is an industrial fishery and does not overlap with small-scale fisheries, nor does it compete for their resourcesLong-term rights for 12 commercial fisheries will be allocated by the department of agriculture, forestry and fisheries next year.

The researchers suggest that if the government wants to retain, and perhaps even grow, the thousands of decent jobs the hake deep-sea trawling fishery provides, the policy being developed ahead of the fishing rights allocation process of 2020 must take cognisance of the well-developed, unique economic characteristics that prevail in this fishery.

Because of the requirement for robust deep-sea trawlers, the harvesting of Cape hake is highly capital-intensive and exhibits high levels of fixed costs. The Genesis Analytics study estimates that investments made in fishing and processing assets since 2005 total R3.8bn.The 33 companies that currently hold rights in the hake deep-sea trawl fishery are understandably jittery about Frap 2020 because similar processes conducted by the department in 2013 and 2015/2016 were highly controversial and characterised by lengthy delays, prolonged litigation, disruption of fishing and the destruction of value for companies invested in fishing.

And this is the crux of the matter. The Genesis Analytics study demonstrated that historically disadvantaged persons currently hold approximately 66% of the shares in the firms that harvest 90% of the hake deep-sea trawl catch catch, and most likely the same or higher among the remaining smaller firms. Shareholding by HDPs has more than doubled from about 30% in 2005.

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