ARECHANAB COMMUNITY TRUST
Over the past ten years, from 1998 to 2008, just over N$ 5.1 million has been donated by the Arechanab Community Trust and its associates to development and upliftment projects in the Arandis communities.
What is Arechanab Community Trust?
Arechanab Fishing and Development Company (Pty) Ltd. is a Namibian company which holds horse mackerel fishing rights to harvest marine resources in the Namibian Economic Zone.
Arechanab’s shareholding is made up as follows: Erongo Marine Enterprises (100% owned by Oceana/Blue Continent Products) owns 49%; the Arechanab Community Trust (ACT) owns 29.33%; and various Namibian shareholders own 27.1%.
Arechanab is historically linked with the small town of Arandis in the Erongo region. As a result, Arechanab became involved with various social upliftment initiatives in the town as far back as 1998. Funds generated from dividends are allocated to assist the community of Arandis in particular, and other noteworthy causes in the Erongo and surrounding regions.
These funds are complemented by an annual financial donation from Arechanab to ACT in order to assist with its social investment programs. ACT is managed by three Trustees, namely Barrie King and Calie Jacobs (both representing Erongo Marine Enterprises) and Patrick Nandago (representing the Namibian shareholders).
Illustration: Three of the five school busses donated by ACT to various recipients in the region.