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Page 1: 1. Minister’s Foreword 2. Corporate Governance Framework 3 ... · If we as a Nationwon’t take risks, we will not succeed, and we put this approach to the test by appointinga relatively

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Page 2: 1. Minister’s Foreword 2. Corporate Governance Framework 3 ... · If we as a Nationwon’t take risks, we will not succeed, and we put this approach to the test by appointinga relatively
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1. Minister’s Foreword 2. Corporate Governance Framework 2.1 Corporate Governance Statement

2.2 The Board Of Trustees

2.3 CompositionOfTheBoardOfTrustees 2.4BoardCommittees

3. Chairperson’s Review

4. ChiefExecutiveOficer’sReview

5. ManagementOfTheNamibiaFishConsumptionPromotionTrust

6. Management Reports

6.1 Human Resources Overview

6.2 Quota And Stock Overview

6.3Marketing&PromotionsOverview 6.4 Financial Report

Table of Contents

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1. Minister’s Foreword

IamonceagainpleasedthattheNamibiaFishConsumptionTrustcanreportonayearofgrowthandincreasedactivityinbringingfishtothenation.Sinceitsinceptionin 2001 by Cabinet decision, the Trust has increasingly been realising its mandate in makingfishmoreaccessibleandaffordableforNamibiansfromallwalksoflife.

Under the exemplary leadership of the Board of Trustees, the footprint of the Trust hasgrownsignificantlyandthelevelofservicetotheendconsumersoffishhasre-mainedhighasthedemandforfishhasincreased.TheTrusthasthroughoutthere-portingperiodensuredthatithasthecapacityandcapabilityoffulfillingitsmandateas priority and has geared itself to being able to do so well into the future. The Trust has invested in immovableandmovableassetswithout thefinancial inputsof the

Ministry of Fisheries and Marine Resources and for this achievement; I applaud the leadership of the Board and the prudent resourcefulness of its Senior Management.

TheNamibiaFishConsumptionPromotionTrusthasbecomeaforcetobereckonedinthearenaofmakingacontribu-tiontowardfoodsecurityforthepeopleoftheRepublicofNamibiaandthemarketingofthebrandanditsproductshasbeenexemplaryfortheyearunderreview.Afineexampleofthis is theNationalFishConsumptionDaywhichkickedoffintheErongoRegionwhichwillbeanannualeventtoalltheregions,wheretheconsumptionoffishwascelebrated and highlighted in an atmosphere that was sociable and highly enjoyable.

IwouldliketocongratulatetheBoardofTrustees,theSeniorManagementandStaffoftheNamibiaFishConsumptionPromotionTrustfortheircommitmenttowardthemandateoftheTrustandfortheenergytheybringinpopularisingfishasastaplefoodforhealthandvitality.IcommendthesupportoftheTrusttoeverythingthattheTrustdoesintheadvancementofitsaimsandobjectivesinthenearfutureandwishitwellinallitsendeavoursformanyyearstocome.

BernhardEsau,MPMinister of Fisheries and Marine Resources

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2. Corporate Governance Framework

TheNamibiaFishConsumptionPromotionTrust(NFCPT)wasestablishedinMarch2001asperCabinetreso-lution38th/0512:00/0.00.Intermsofthisresolution,theNFCPTaimsatpromotingfishconsumptionwithinNamibiabymakingfishmoreaccessibleandaffordable.Furthermore,theNFCPTistoteachthepublichowtoprepareandcookfishtoattainthemostnutritionalvaluefromit.

Our Mission

Topromotetheconsumptionoffish,makingitaccessibleandaffordableinNamibia.

Our Vision

TobethepreferredfishdistributorinNamibia.

Mandate

Promotetheconsumptionoffishthroughoutthecountryandensurethatthepromotionoffishconsumptiongoeshandinhandwithimpartingskillsonhowtopreparedifferentcuisinesiffish.

2.1 Corporate Governance Statement

TheNFCPTiscommittedtoensuringthatourcorporategovernanceprocessesconformtobestpractices.ThecorereasonforexistenceistopromotetheconsumptionoffishinNamibia.TheCompanyisdulycognisantof the need for decisions to be ethically sound but also for their compliance with the relevant regulatory regime.

2.2 The Board of Trustees

Accordingtoclause5oftheNotarialDeedofTrust,no.T76/01,thegeneraladministrationandpolicydeci-sionsoftheTrustarecarriedoutbyaBoardcomprisingfiveTrusteesappointedinthefollowingmanner:

• TheMinisterofFisheriesandMarineResourcesnominatesandappointstheTrustees• NominationandappointmentsoftheTrusteesaremadeinwritingbytheMinisterofFisheriesand Marine Resources• TheMinisterofFisheriesandMarineResourceswillensurethatpersonsnominatedandappointed are of good standing in the Namibian community

Attheirfirstmeeting,theBoardofTrusteeswillelectfromitsmembersaChairperson,DeputyChairpersonandaSecretary.TheTrusteeswillholdofficeforaperiodoftwoyearsandtheofficebearersoftheBoardofTrusteeswillalsoholdtheirofficesforaperiodoftwoyears.RetiringTrusteeswillbeeligibleforreappoint-menttoserveasTrusteesforafurtherperiod.Trusteescanbereappointedfor3additionaltermsonly.

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2.3 CompositionoftheBoardofTrustees

TheNFCPT’scontrolisvestedwiththeBoardofTrusteeswhoareappointedbytheMinisterofFisheriesandMarineResourcesforatwoyearperiod.TheBoardmeetsatleastthreetimesayeartoconsiderstrategicmattersemanatingfrommanagementandpolicyissues.The current Board of Trustees was newly appointed by the Hon. Bernard Esau, Minister of Fisheries and Ma-rineResourcesinNovember2013andwillserveinthiscapacityfortwoyears.Theyare:

• Dr.TobieAupindi Chairperson• Mr.MatheusJ.Amadhila DeputyChairperson• Mrs.KatrinaSikeni BoardMember• Mr.JulianEngelbrechtBoardMember• Mr.StevenK.AmbabiBoardMember• Mr.VictorPea SecretarytotheBoard

2.3.1 Organogram of the Board of Trustees

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2.4BoardCommittees

IntermsoftheDeedofTrust,no.T76/01,theBoardofTrusteeshastheauthoritytoestablishcommitteesforthepurposeofassistingtheBoardwithitsresponsibilities.Inlinewiththeseguidelines;theBoardhasestablishedtwocommittees,namelytheHumanResourcesCommitteeandtheAuditCommittee.

2.4.1HumanResourcesandNumerationCommittee

TheprimarypurposeoftheHumanResourcesCommitteeistoassisttheBoarddischargeitsresponsibilitiesregardingthedevelopmentofskillsandtalentwithintheNFCPT.Thisincludes:

• ReviewingthehumanresourcesstrategyfortheNFCPT,aswellasreviewingtheorganisationalstructuretoensurethatitisgearedtoassistingtheorganisationindischargingitsmandate• ReviewingandrecommendingtheremunerationpolicyoftheNFCPT• ReviewandprovidingguidanceonNFCPT’sHRprogrammessuchasitsglobalworkforceprogrammes, its talent review and leadership development• Ensuringthattheperformancemanagementoftheorganisationisgearedtowardaperformance culture• AdvisingtheBoardonthemanagementoftheTrust’sSuccessionPlan

TheHRCommitteeforthe2012/2013reportingperiodcomprised:

• Mrs.KatrinaSikeni Chairperson• Mr.MatheusJoelAmadhila BoardMember

TheHumanResourcesCommitteehad4meetingsduringtheperiodunderreview.

2.4.2TheAuditandRiskCommittee

TheAuditandRiskCommitteeresponsibilitieswithintheNFCPTincludes:

• Thefinancialreportingprocess• Thesystemofinternalcontrol• Theauditprocess• Theprocessformonitoringcompliancewithlawsandregulations• Thecodeofconduct

TheAuditandRiskCommitteeforthe2012/2013reportingperiodwas:

• Mr.JulianEngelbrecht Chairperson• Dr.TobieAupindi BoardMember• Mr.StevenAmbabi BoardMember

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Whatanhonour it forusasDirectorstohavebeengiventhisopportunitytobepartoftheNFCPT.WhenwewereappointedbythelateHon.Dr.AbrahamIyambo,theMinisterofFisheriesandMarineResourcesatthetime,thefinancialsituationof theTrustwas tenuous, its infrastructureweakand its operational processesill-defined.Ourtaskwassimplytoturnthecompanyaround,createfinancialandoperational strategies thatcouldnotonly improvefishconsumptionthroughoutthe country, but further develop and implement strategies that embrace economic growththroughjobcreationandfoodsecurity.ThesupportgainedbythelateHonDr.IyambohascontinuedundertheHon.BernhardEsau,thecurrentMinisterofFisheries,whoreappointedtheBoardtocontinuethemomentum.

The results contained in this Annual Report are testament to the fact that the Board ofTrusteesisfulfillingitskeyobjectivesasdeterminedbytheNFCPTDeedofTrustNoT76/01,namely:“topromotetheconsumptionoffishbymakingitaccessibleandaffordableinNamibia”.Thoughbyname,itiscalleda‘Trust’,therealityfarout-weighstheinsignificanceofthename,becausethishasgrownintoaCorporationofhugesignificance.Assuch,NFCPThasasignificantroletoplayincontributingto

therealisationofthegoalsoutlinedinNDP4andtheoverallcountdowntoVision2030.Thesegoalsincludeamongstothers,highandsustainedeconomicgrowth,employmentcreationandincreasedincomeequality.

Duringthereportingperiod,ourfocuswastolaythefoundationalgroundworkforlong-termstabilityandsustainabilityoftheTrustbyexpandingitsfootprint,solidifyingitspositionacrossthecountryasastrongandformidablebrand,andenablingittodobusinessmoreeffectivelywellintothefuture.

IfweasaNationwon’ttakerisks,wewillnotsucceed,andweputthisapproachtothetestbyappointingarelativelyyoung and inexperienced CEO and Senior Management in whom we placed a lot of trust and faith! We did it with the visionthatourresponsibilitytowardVISION2030wastoprogressivelygiveyoungpeopleanopportunityandtotrainthemtomeetthedemandsandchallengesofthiscentury.Thegamblepaidoffandtoday,wearetrulyamazedandinspiredbythisbunchofyoungpeople.NotonlydidtheymanagetheNFCPTtogreaterheights,butthisreportingperiodismarkedbyexceptionalmanagementofthefinancialresourcesoftheTrust.Tothis,weattributethestrictimplementationofprocurementprocedure,theeffectivesalesofproducttothemarketplaceandtheprudentplanningand management by this young Management team.

WetakegreatprideintheimpactthattheTrusthasmadeinthereportingperiodandIwouldliketoexpressmygrati-tude towards the Minister of Fisheries and Marine Resources, the Hon. Bernhard Esau for his vision and unwavering supportandIamsurewithanevenhigherquotaallocation,wecandomore.IwouldliketothankallBoardMembersfor the diligent way in which they have provided guidance and support.

Lastly,wehavelaiddownthefoundationforfutureeconomicgrowthandstability.Mostimportantly,thecompanywasre-engineeredtothebestofourability intermsoftheorganizationalstructure,operations, InformationCom-municationTechnology,financialpolicyandcontrol,infrastructureandnationalmarketingandwasabletoproduceacleanauditedannualfinancialstatementin2009.ThereisnoquestionthatthistrustwillcontinuetobeasignificantcontributortotheeconomyandonedaywhenIandotherDirectorsarenothere,wewilllookbackwithprideandsay“wemadeourcontribution”.

Dr.T.Aupindi

3. Chairperson’s Review

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4. Chief Executive Officer’s ReviewThe year under review has shown impressive growth for the Namibia Fish ConsumptionPromotionTrust.Notonlyhavewemademorefishaccessibletothepeople of the Republic of Namibia by increasing our footprint across the country, butsignificantinvestmenthasbeenmadeinimprovingourmarketingefforts,andinourcapabilityandcapacityasanorganisation.

New outlets that were constructed in Eenhana, Opuwu and Outapi while an extension was added to the Ongwediva shop and land was purchased in Omuthiya fortheconstructionofashopthereinthenearfuture.Thecostofconstructionforthe new shops is N$ 1 456 836.19, the cost of land in Omuthiya is N$ 58 000-00, andthenewextensioncostisN$1173116.13.WealsospentanadditionalN$29072-00ontheOmuthiyaFishShopfordesignofthefishshop.

InanotherexcitingdevelopmentfortheTrust,constructionwasstartedonthenewHeadOfficeinWalvisBayatacostofN$12888034-11.Completionisearmarked

for April 2013.

All of these projects could not have been realised without the assistance of the Spanish Government as part of its corporatesocialresponsibility.TheSpanish/NFCPTcollaborationhasalsofacilitatedandfundedthepurchaseofa1.78tonand3.5tontrucktoenhanceourdistributioncapabilities,anda4x4utilityvehiclewhichwasusedbytheproject manager to ensure that the project was managed properly. Monitoring the project included driving to various towns inNamibiawherewewereeitherconstructingor renovatingshops inareassuchasOngwediva,Eenhana,OutapiandOpuwo.Someofthefundswerealsoutilisedtoprovidevaluabletrainingforourfishprocessors.

Skillsupgradeswereprovidedinthefollowingareas:• DefensiveDriving,• Salesandplanning,• Basichygieneandfishhandling• BusinessManagementandFinancialManagement

Underthesamefinancialcollaboration,themarketingeffortsoftheTrustreceivedasignificantboost.Fundswereusedforthedevelopmentofapromotionalplanandwebsite,promotionalmaterialwaspurchased,andaroadshowtothenorthernregionswasconducted.Vitalcoldstorageequipment,furnitureandcomputers,pointofsalematerialandrestaurantequipmentforoutletsinthenorthwasalsopurchased.

TheSpanishProjectcametoanendinDecember2012. Iwould liketousethisopportunitytothanktheSpanishGovernmentfortheirgenerosityinassistinguswithreachingourgoalsattheTrust.Duringtheperiodunderreview,theTrustbecameaTeamNamibiaMemberandaNationalFishConsumptionDaywasheldintheErongoRegioninSeptember.TheeventwaswellsupportedandcontributedtowardtheTrust’seffortsinTakingFishtotheNation.

The Trust could not have achieved its results for the period under review without the support of the Hon Bernard Esau and key people within the Ministry of Fisheries and Marine Resources. I would like to thank the Board of Trustees for theirguidanceandsupportduringthistimeandmyheartfeltthanksisextendedtotheentireteamwhoworktirelesslyeverydaytomakeourmandatetangibleandachievable.Theirdailycommitmentandactionsareappreciatedaswemove forward to becoming even stronger in the period to come.

Mrs.AlbertinaNgurare

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ThedaytodayoperationsoftheNFCPTismanagedbyamotivatedstaffcomplementthatensuresthatthemandateoftheTrustisachievedinnineregionsand13shopsacrosstheRepublicofNamibia.ThefunctionsofManagementcompriseadministrative,operational,humanresourcemanagement,financialandsalestothegeneralpublic.Duringtheperiodunderreview,thestaffcomplementwas102.Rolesandresponsibilitiesareexecutedbymembersofstaffinthefollowingcapacities:

• Mrs.AlbertinaNgurare CEO• Mr.FelixShipepe FinanceManager• Mrs.CharleneHartung MarketingandCommunicationsManager• Mr.CoreyCloete HumanResourcesManager

5. Management of the NFCPT

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6. Management Reports

6.1 Human Resources Overview

The reporting period is characterised by a stable workplace environment. Only one resignation wastenderedandnoterminationsofemploymentattheTrustneededtobe implemented.Duetogrowthofthe organisation, 18 new appointments were necessary to facilitate the increased activity of the Trust.For the period under review, provision was made for 149 positions of which only 102 are currentlyfilledas illustrated infigure6.1.1.Provisionwasmade forgrowthof thebusinesswith the remaining47positions allocated for new shops inMariental, Omuthiya and Oranjemund. Since these premises havenotyetbeenconstructed,thesepositionsnowfalloutsideoftheperiodunderreviewandremainvacant.

Of the 102 positions filled, 24 positions are filled at the NFCPT Head Office in Walvis Bay. The HeadOffice fulfils the administrative, operational and financial functions of the Trust. 30 positions are filledbypersonnelwhorunNFCPTshopsatthecoastandcentralandsouthernregions inNamibia,whilst theremaining 55 positions are filled by shops in the northern areas of the country. Figure 6.1.2 illustrateshowandwherethe47vacantpositionswillbefilledinsupportofthemissionandmandateoftheTrust.

Figure6.1.1Totalnumberofpositionsavailable,filledandvacant.

Figure6.1.2Postsfilledrateperdirectorate

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6.1.1 DistributionofHumanResourceSupply

DistributionofcurrenthumanresourcesupplybyfunctionThehumanresourceswithinNFCPTaredividedintothreefunctions,namely;

• SeniorManagement• Middlemanagement• Operational

SeniormanagementfunctionsincludetheChiefExecutiveOfficerandManagerswhichrepresents3%oftheworkforce.Thefunctionsofmanagementincludestrategicplanning,implementationandmonitoringandevaluationoftheTruststrategicplanandmanagementplans.

MiddlemanagementfunctionscomprisetheAccountant,andProductionandDistributionOfficer.Thesecategoriesfulfilsupervisoryroleswithsimilarrolesasthemanagementbutonalowerlevel.Thisfunctionconstitutes3%oftheentireworkforce.

Theoperationalfunctionincludespersonnelwhoperformactivitiesundersupervisionandrepresents91%oftheentireworkforce.Figure6.1.3showsthebreakdownofSeniorManagement,MiddleManagementandOperationalstaff.Thepercentagebreakdownreflectsonlythepostsfilledfortheperiodunderreview.

Distributionofcurrenthumanresourcesupplybydirectorate

Thecurrenthumanresourcesupplyisdividedinto:• HeadOffice(HO)• Coastal,CentralandSouthernregions• Northernregions.

Figure6.1.3PercentagebreakdownillustrationbetweenSeniorManagement,MiddelManagementandOperationalStaff

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Distributionofcurrenthumanresourcesupplybygenderprofile

ThereislittletonodifferencebetweenthenumberofmenandwomenappointedatSeniorManagementandMiddleManagement.Atoperationallevelhowever,thereisasignificantdifferenceandisattributedmainlytotheFishProcessorsjobcategorythatismaledominated(26/4).

Distributionofpositionsatthefishshops

BelowisabreakdownofthekeypositionsatthefishshopscountrywideclearlyindicatingthepercentageofBranchAdministrators,CashiersandFishProcessorsacrossall13outletsnation-wide.

Promotions/Transfers

Two female employees and one male employee were promotedtoandtransferredindutystation.

Figure6.1.4illustratesthedistributionofhumanresourcesbypercentagebydirectorateacrossthefootprintoftheNFCPT

Figure6.1.5GenderbreakdownSeniorManagement,MiddleManagementandOperationalStaff

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6.2 Quota and Stock Overview

Everyyear,theTrustreceivesHorseMackerelandHakequotafromtheMinistryofFisheriesandMarineResources. The quota allocation received by the Trust is based on theMinistry’s annual Total AllowableCatches(TAC).

TheHorseMackerelquotaisallocatedinDecembereveryyearandthecatchstartsfromJanuarytoDecember.AdditionalquotaforHorseMackerelisallocatedinOctobereveryyear.AnadditionalquotaisallocatedasmostofthecompanieshavecaughttheirannualallocationbyOctober.

TheNFCPTdoesnotownoroperateitsownfishingvesseloritsowncoldstoragefacility.TofulfilitsmissionandmandatetothepeopleofNamibia,theNFCPToutsourcesthesefunctiontolicencedoperatorsforthecatchofitshorsemackerelandhakequota.

6.2.1 Quotaallocation

Fortheperiodunderreview,theNFCPT’squotaforhorsemackerelwas13000tonneswithanadditional2000tonnesawardedinOctober.ThecatchoftheNFCPThorsemackerelquotawasawardedtoNamsov Fishing, who caught the 13 000 mt while Erongo Marine Enterprises were awarded the catch for the additional2000mt.ThequotaforhakeawardedtotheNFCPTwas1000tonnesandanagreementforcatchingthisquotawasconcluded with Blue Sea.

6.2.2 Stock purchased

Besidestockreceivedfromitsquota,theTrustpurchasesotherproductsfromtheindustryinordertosupplyavarietyofproductstoourfishshops.Fortheperiodunderreview,wepurchasedbycatchessuchassnoek,angelfish,ribbonsnoek,redsdentex,jacopeverandcannedfish.ThesedifferentspeciesarepurchasedfromotherfishingcompaniessuchasNamsov,SeaFlower,SkeletonCoast,SeaPride,BlueSeaMarineandUnitedFishing.AllfisharepurchasedbytheTrustatmarketpricesandsubsidisedwhensellingontoendconsumersthrough its outlets.

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6.2.3 Stock distributed

6.2.3.1AnnualDistributionfigures

The distribution of stock to NFCPT outlets has shown a steady increase year on year. For the periodunder review, 5 108.34 metric tonnes of stock was distributed, an increase of 67% from the previousfinancial year. The increase in stock distributed is attributed to the opening of new fish shops, anincrease in the variety of products being sold and also the increased demand for fish countrywide.

6.2.3.2DistributionfiguresperNFCPToutlet Thepercentageofproductsdistributedtothenorthernoutletsmakesup56%oftheTrustsstockandshowsayearonyearincrease.Thetablebelowindicatestheincreasefromthe2011/2012reportingperiodtothecurrentreportingperiodintonnesperoutlet.

Figure6.3.4Graphindicatingtheoffishstockdistributedfromthepreviousandcurrentreportingperiodsperoutlet

Figure6.2.2Graphindicatingthefishstockdistributedfromthepreviousandcurrentreportingperiods

Figure6.2.1Comparisoninmetrictonnesoffishstockdistributedinthepreviousandcurrent

Figure6.3.3Comparisoninmetrictonnesoffishstockdistributedinthepreviousandcurrentreportingperiodsperoutlet

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6.3Marketing&PromotionsOverview

MarketingandpromotionaleffortsfortheNFCPTwentintohighgearduringthe2012/2013reportingperiod.AsaresultofthegenerousassistanceoftheSpanishProject,TheTrustwasabletodevelopitsfirstwebsite,workondevelopingapromotionalplanandpurchasepromotionalmaterialssuchasbannersandshowstandpullupstructures.Thesestructuresallowustobrandwitheaseduringourmarketingeffortsaroundthecountry.TheSpanishProjectalsomadearoadshowinOshanaandOhangwenaRegionsinnorth-ern Namibia possible.

TheTrustentrencheditspresenceatvariousTradeFairsthroughoutthecountryat:• EenhanaExpo• ErongoTradeFair• OngwedivaTradeFair

Wealsoexhibitedat:• TheCrayfishFestivalinLüderitz• FisheriesConference• FisheriesExpo

ExhibitingatTradeFairs,FestivalsandConferencesgivestheTrustthevaluableopportunitytointeractwithNamibiansfromallwalksoflifeanddistributeinformationaboutthenutritionalvalueoffish,andhowtocleanandpreparefishtomaintainasfaraspossible,thehighestnutritionalvalue.

AmilestonefortheTrustforthereportingperiodistheintroductionofShiwa,ourmascot.Shiwaisparticu-larly popular with children and is a memorable character for reinforcing the messages that the Trust spreads aboutfishconsumption.SuchanopportunitywascreatedintheErongoRegionwiththefirstNationalFishConsumptionDayheldinSeptember.TheideaoftheNationalFishConsumptionDayistocelebratetheconsumptionoffishinanatmospherethatisfestiveandsocial.TheMinistryofFisheriesandMarineResourcesgavethisinitiativetheirfullsupportandweenvisagethatthiswillbecomeanannualevent.

TheTrustofficiatedovertheopeningsofnewfishshopsinOutapi,EenhanaandOndangwa,bringingthetotalnumber of shops to 13 in 9 regions across the country.

InSeptember,theTrustembarkedonaBrandAuditfortheNamibiaFishConsumptionPromotionTrust.The Audit was conducted amongst customers in Windhoek, Eenhana and Ondangwa and gave valuable insightintobrandrecognition,reach,recall,customerperceptionsandtheirmediaconsumptionhabits.TheNamibiaFishConsumptionPromotionTrustBrandhashighrecognitionandrecallandbasedonthesurveyfeedback,marketingeffortsfocussedonbecomingengagedinpubliceducation,radiotalksandnewspaperadvertisements.TherecipebookletdevelopedbytheTrustwasalsoreworkedforpublicdistribution.ThetrucksandvehiclesbelongingtotheTrustarevaluablemobilemediaoftheNFCPTbrandandsixtruckswererebrandedunderthereportingperiod.

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6.4FinancialReport

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Thesupplementaryinformationpresenteddoesnotformofthe annual statements and is unaudited.

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Thesupplementaryinformationpresenteddoesnotformoftheannualstatementsandisunaudited.

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