Bucht Seafood CC

Seaflower Whitefish Corporation Limited

Proposal 2019
14 October 2019
 Table of Contents
• Executive Summary
• Company Description
• Proposal to Seaflower Whitefish
• Key Success Factors
 Executive Summary
• Bucht Seafood CC business will be established to meet the fish demands in the
community. It will be located in the CBD Area of Luderitz town in close proximity to
the majority of the people.

• The main economic significant of the business is to contribute towards narrowing

down the fish demand-supply gap deficit in Luderitz and Karas Region at large as
well as the supply of proteins and micro nutrients for feeding the population at
large.

• The current targeted fish consumption per person is 20.4 kilograms and our
business will help in the drive for this attainable target.

• The business will be managed by Selma Stephanus and Josefina Nekongo, who are
both well vested in the fishing industry.

• Annually, the company is committed to distribute 1% of after tax profits towards

Corporate Social Responsibilities associated with noble activities within the
Luderitz Town District.
 Company Description
• History of the company
– Bucht Seafood CC is a new company which was recently incorporated.
– The company has been incorporated in the Democratic Republic of Namibia and all the
shareholders are young women, defined as youth by the National Youth Council Act.
– The company is jointly owned by Selma Stephanus and Josefina Nekongo in equal
shares, who are also the management team.
• Vision
– To be a notable contributor towards the provision of food security in Namibia and
ultimately guarantee that no Namibian person goes hungry.
• Mission
– To provide healthy fish of high nutritional value at affordable prices that improve
people’s lives.
• Products and Services
– Primary business is the marketing and selling of frozen hake and hake products as
well as by-catches.
– Marketing through the Seaflower brand within the Luderitz Market.
– Delivery services of frozen fish products to customers within Luderitz.
 Proposal to Seaflower Whitefish
• Analysis and Benefits
– In the quest to bring the fish closer to the people, Bucht Seafood proposes to
take over the fish shop operations from Seaflower Whitefish Corporation
Limited.
– Bucht Seafood will operate from the Luderitz CBD area as well as make
deliveries to customers at a reasonable fee.
– Bucht Seafood intends to remove from Seaflower Whitefish, the heavy burden
and common risks that are associated with the management of the fish shop
i.e. stock control risks, security issues, cash handling risks, employment
risks, general controls etc.
– Through our business, Seaflower Whitefish’s commitment to provide fish to
the local community will still be attained and also scaled up.
– Our fish outlet will also be opened for longer hours providing flexibility for the
customers.
– Seaflower will benefit from the reduced costs in terms of labour, electricity
etc., as it does away with the current fish shop.
– All staff to be employed will be sourced from Luderitz, providing for
employment which is scarce is the less populated costal town.
 Proposal to Seaflower Whitefish
Continued…
• Proposition

– Bucht Seafood to commence on the operations of a frozen fish shop in

Luderitz from 01 November 2019.
– The company proposes to purchase all the equipment of Seaflower
Whitefish at the current book value. If the equipment are fully depreciated,
25% of the cost price of all the items would be paid.
– Seaflower, under its drive to provide fish to the local community,
guarantees to make fish stock of all species available to Bucht Seafood.
– The fish be sold to Bucht Seafood to be discounted by 10% to allow the
outlet and business to be sustainable in the short term and long term
period. This will also ensure that the frozen fish is sold at reasonable prices
and the customer do no suffer from paying high unaffordable prices.
– Consequently, Bucht Seafood and Seaflower would need to sign an
agreement to effect the terms and conditions.
 Key Success Factors
1. There are very limited outlets selling frozen fish in
the district town of Luderitz;
2. Our business once off the ground will offer delivery
services to our Luderitz customers within the first
year of operation.
3. The growing population is another factor because
more people are anticipated to come ranging from
students & lecturers (NUST), business men and
women, inventors and people from all part of the
country.
4. The demand for fish is non-seasonal commodity.