INVESTOR SUPPORT AVAILABLE PRIVATE SECTOR INVESTORS Somali banks offer long and short-term loans up to $150,000 at commercial profit rates for equipment and working capital. FCA Investments offers equity and long-term loans up to $1 million at commercial profit rates for equipment and working capital GOVERNMENT (licenses, permits) The federal government is issuing off-shore licenses for highly migratory species that are sustainable and incorporate biodiversity safeguards Permits are available for onshore processing and other activities
SOMALI SEAFOOD COMPANIES Somali seafood companies interested in selling product, joint ventures, investments, new technologies, opening new markets, tapping into offshore resources, fish canneries and fish meal production. Mogadishu Blue Basin Fishing Company Husseim Habad - General Manager Ph: +252 61 8853455 Email: habadfishery63@gmail.com Somali Seafood Products Company (SSPC) Abdulkadir Abubakar Hassan CEO and Owner Ph: +252 615 541313 Email:Info@sspc.so Puntland Yustan Mahad Abdi Ph: 0907797304 Email: mahadcade@gmail.com Oceanic Ahmed Omar Ph: 0906815628 Email: oceanicfish1@gmail.com Alsiha Salman Ph:0906794747 Email: salman@sihaenterprise.so
Somali National Fishing Company (SNFC) Ali Warsame - General Manager Ph: +252 615 733685 Email: snfcoaah@gmail.com Galmudug State Sahan Seafood Company(Hobyo) Hamid Gedi General Manager Ph: +252 616 272141 Email: info@sahanseafood.so
OTHER USEFUL CONTACTS
Federal Government: Mohamoud Abdullahi Abdirahman Director General, Ministry of Fisheries and Marine Resources, Federal Government of Somalia +252 61 5509562
Somali Chamber of Commerce and Industry (SCCI) Mohamoud Abdi Ali (Gabaire) President of SCCI +252 615 966790 Info@somalichamber.so Puntland: Mohamed Aydid Jama info@Puntlandchamber.com Somaliland: Ibrahim Ismail, Secretariat 0634485506 Ministry of Fisheries and Marine Resources: www.mfmr.gov.so USAID/GEEL: info@sogeel.org/ geelsomalia@gmail.com
Somaliland Red Sea Suhayb Mohamed Ph: + 252 63 4442003 Email: smcfidhin@gmail.com Zakia Fishing Company Berbera/Hargaisa/Mait Omar Aden Osman - Manager Ph: +252 63 4476074 Email: info@zakiafishing.net
Note: on request contact details of around 100 Somali based seafood companies are available
DISCLAIMER This publication is made possible by the support of the American people through the United States Agency for International Development (USAID). The contents of this publication are the sole responsibility of International Resources Group (a subsidiary of RTI) and do not necessarily reflect the views of USAID or the United States Government.
Somalia Growth, Enterprise, Employment & Livelihoods (GEEL) Project: info@sogeel.org
THE SOMALI SEAFOOD INDUSTRY NOW IS THE TIME TO INVEST
SOMALIA: A SEA OF INVESTMENT OPPORTUNITIES
3
SARDINES & OTHER SMALL PELAGIC FISH As stated by FAO and other international authorities, the waters along the coast of Somalia are abundant in Indian oil sardines. These along with other small densely schooling pelagic fish are presently not harvested
4
COLD CHAIN ADVANCING
KEY OPPORTUNITIES
INVEST IN EXISTING COMPANIES Somalis need capital & expertise across the seafood food industry, especially for equipment and management skills. Return on investment should be high.
Ice-making factories and blast freezers are setting up in every state
5
NEW FISHERIES LAWS INTRODUCED
o Offshore fishing licenses available o Minimum export standards are being established o Fisheries management with a sustainable development approach being implemented Longest coastline in Africa with high-value fish species
6
Exclusive Economic Zone (EEZ) encompasses 830,000 km2
Thousands of people trained in Hazard Analysis and Critical Control Point (HACCP).
Multiple profitable tropical fisheries
First HACCP certified export fish plants soon to
Worldwide demand for wild caught fish is on the rise
start operating. SGS and other HACCP auditing companies training Somalis
At least 300,000 MT more can be sustainably harvested Favorable investment climate for foreigners
7
Huge potential workforce-70% of population under 30 New dawn rising on security and national stability
8
WHY INVEST NOW? 1 THE INDUSTRY IS
EXPANDING RAPIDLY The number of small boats has increased by 20,000 in the past 3 years. Larger modern vessels are now starting to join the domestic fleet.
2 SURPLUS OF FISH
At the peak of the fishing season, supply of fish is far greater than demand yet many fish stocks are still under-exploited.
FOCUS ON HYGIENE AND QUALITY
INTERNATIONAL MARKETS Europe, the Middle East, Asia and African countries reaching out for new sources of quality seafood. Ethiopia and Djibouti are about to be HACCP certified HIGH VALUED SPECIES AVAILABLE Lobster, Spanish Mackerel, Yellowfin Tuna, Swordfish, Grouper and Snapper are targeted by the domestic fishing fleet. Other species in abundance include Mahi Mahi, Pomfret, other large Tuna, Wahoo, Squid, Cuttlefish, Prawns and Crabs
9 FISH CANNING Currently there is only one professional cannery in operation, producing more than one million cans of Yellowfin Tuna per month. Half the year vast schools of smaller Tuna, including Skipjack, Longtail and Albacore are plentiful but not targeted
TAP INTO OFFSHORE FISHERIES There is only a small fleet of foreign vessels offshore. The Somalia government is open to issuing more licenses PURCHASE SOMALI SEAFOOD Make direct purchases or form partnerships with Somali suppliers to guarantee supply and quality products ESTABLISH NEW EXPORT FACILITIES With HACCP being established, export quality laws coming on stream, world market demand for tropical seafood ever increasing, and Somalia security improving; the time to invest is now. INVEST IN COLD CHAIN AND TRANSPORT Somali’s are consuming more and more fish. Local demand is high and prices are good. Support industries are needed
OTHER AREAS TO INVEST • FISHING PORTS & PROCESSING FACILITIES FOR DOMESTIC AND INTERNATIONAL VESSELS • COLD CHAIN AND VALUE ADDITION • FISHERIES RESEARCH DEVELOPMENT • FISHERIES EDUCATION / TRAINING CENTERS