Somaliland Fisheries Investment Brochure

INVESTOR SUPPORT AVAILABLE PRIVATE SECTOR INVESTORS Somaliland banks offer long and short-term loans up to $150,000 at commercial profit rates for equipment and working capital. FCA Investment offers equity and long-term loans up to $1 million at commercial profit rates for equipment and working capital GOVERNMENT (licenses, permits) The Somaliland government is open to issuing licenses for fisheries that are sustainable and incorporate biodiversity safeguards. Permits are available for on-shore processing and other activities

SOMALILAND SEAFOOD COMPNAIES Somaliland seafood companies interested in selling products, joint ventures, investments, new technologies, opening new markets, tapping into off-shore resources, fish canneries and fish meal production.

OTHER USEFUL CONTACTS Ministry of Livestock and Fishery Development, Somaliland Ali Hussien Nur, Director General director.molfd@gmail.com +252 63 4240355

Somaliland Zakia Fishing Company Berbera/Hargaisa/Mait Omar Aden Osman - Manager Ph: +252 63 4476074 Email: info@zakiafishing.net Ina Macalin fishing Berbera/Hargaisa Ahmed Abdilahi - Executive Ph: +252 63 4420136 Email: inamcalin1@yahoo.com Red Sea Fishing Company Berbera/Hargaisa Suhayb Mohamed Ali - Manager Ph: +252 63 4442003 Email: smcfidhin@gmail.com

Gulf fishing company Berbera/Hargaisa Amina Farah Arshe - Manager Ph: +252634428044 Email: kda20000@gmail.com

Somaliland Chamber of Commerce Ibrahim Ismail, Secretariat 0634485506 USAID/GEEL info@sogeel.org

Boss fisheries Berbera/Xarshow/Hargaisa Mohamoud Boss - Manager Ph: +252634722990 Email: bossmaritime@yahoo.co.uk Somfishing Hargaisa Mohamed Ahmed - Manager Ph: +252634624488 Email: somalilandfish@gmail.com

Note: on request, contact details of around 30 Somaliland 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 SOMALILAND SEAFOOD INDUSTRY NOW IS THE TIME TO INVEST

SOMALILAND: A SEA OF INVESTMENT OPPORTUNITIES

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COLD CHAIN ADVANCING Ice-making factories and blast freezers are setting up in ports such as Berbera

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NEW FISHERIES LAWS HAPPENING • Offshore fishing licenses available • Minimum export standards are being established • Fisheries management with a sustainable development approach being implemented

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FOCUS ON HYGIENE AND QUALITY • Hundreds of people trained in Hazard Analysis and Critical Control Point (HACCP).

• First HACCP certified export fish plants soon to start operating.

• SGS and other HACCP auditing companies training Somalis

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INTERNATIONAL MARKETS

Long coastline with high-value fish species Exclusive Economic Zone (EEZ) in the Gulf of Aden Multiple profitable tropical fisheries Worldwide demand for wild caught fish is on the rise

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

At least 50,000 MT more can be sustainably harvested Favorable investment climate for foreigners Huge potential workforce -70% of the population is under

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30 years of age Good security and national stability

WHY INVEST NOW? 1

THE INDUSTRY IS EXPANDING RAPIDLY The number of small boats has increased by 2,000 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.

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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 FISH CANNING No professional fish cannery or fish meal plant is operational.

Half the year, schools of smaller tuna, including skipjack, longtail and albacore are plentiful but not targeted.

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SARDINES & OTHER SMALL PELAGIC FISH The waters along the coast of Somaliland are abundant in Indian oil sardines. These along with other small densely schooling pelagic fish are presently not harvested

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.

TAP INTO OFFSHORE FISHERIES There is only a small fleet of vessels offshore.

The Somaliland government is open to issuing more licenses.

PURCHASE SOMALILAND SEAFOOD Make direct purchases or form partnerships with Somaliland 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 Somaliland safe to do business in; the time to invest is now.

INVEST IN COLD CHAIN AND TRANSPORT Somalilanders are consuming more and more fish. Local demand is high and prices are good. Support industries are needed.