Cadilu Fishing could not get its employees’ pension fund monies paid up in full by last Friday, as promised and instead could only manage to pay a part of the outstanding N$1.6 million, the Human Resources Manager for the company, Brian Isaacs, confirmed yesterday. Isaacs confirmed that a new agreement was reached with workers to settle the outstanding amount in full by 20 July this year.

To their discontent workers discovered some weeks ago that Cadilu Fishing has withheld the company’s pension fund contribution without their consent for a lengthy period of time, because the company urgently needed cash to buy fishing quotas from new right holders.
When promises to pay the pension monies that are due did not materialise workers downed tools last Wednesday and demanded a final arrangement.

The Managing Director of Cadilu Fishing, Pepe Romero, promised workers that the outstanding monies would be paid over in full by Friday 15 June, but again shifted the due date to Thursday 21 June, on which date the payment could only be partially honoured.
“We negotiated with the workers and both they and the representative workers’ union agreed to a new date, 20 July this year,” Isaacs said yesterday. He also confirmed that the Managing Director, Romero, apologised to workers in person and admitted he was supposed to consult them with the decision to institute a pension holiday. Romero is determined however, to honour the new deadline of 20 July.
Pepe Romero was not available for personal comment on the new developments yesterday, as he has in the meantime left for a one-month holiday in Spain. In Romero’s own words to Informanté last week: “it is no secret that Cadilu Fishing is finding itself in financial troubles.”