Africa’s largest fishing company Oceana Group faces a battle to hold onto its fishing rights in Namibia after the southern African country said listed firms would no longer be awarded quotas.

Bidvest Namibia, which is listed on Namibia’s stock exchange, could also lose its local fishing rights after the policy shift outlined in a government document reviewed by Reuters on Wednesday.

Oceana, which is listed on South African and Namibian exchanges and also operates in Angola and the United States, said it hoped its investments in Namibia would be safe as they were structured to include local shareholder...  (More Info)