Around 80 % of the Mozambique population cannot afford decent food. Regional aquaculture businesses meet only 6 % of the total demand for fish across the Southern Africa region. With more funding, this problem can be resolved, like a Mozambican tilapia fish farm.
The Chicoa Fish Farm that was established in 2015 (has secured USD 1.5 million equity funding from Goodwell Investments – the Netherlands-based investment firm), has become the largest commercial provider of fish in Mozambique.
The farm has secured its primary supply chain through primary production of Oreochromis niloticus tilapia, and sales, distribution channels are being developed in Mozambique, Malawi, South Africa, and Zambia. Thanks to the funding, the farm can move to the next stage of its growth that is the distribution of frozen tilapia products.
Chicoa will produce over 5000 tons of tilapia per annum that result in 10 million USD of direct income to the local economy each year. Goodwell Investments Senior Investment Associate Dhanyal Davidson has highlighted the essential role of the sector in economic development, and he has added by mentioning their confidence in the Chicoa farm and its potential.
(Source: Fishing industry news)