CAMEROON – Mavecam, a Cameroonian agricultural firm is seeking to invest FCFA 12.28 billion (US$22.23m) in the establishment of an integrated aquaculture projected in the country.
A delegation from the company made a presentation of the project to the Minister of Livestock, Fisheries and Animal Industries (Minepia), Dr Taïga, seeking further support from the government.
Mavecam is one of the 117 organizations shortlisted in the context of a call for expressions of interest launched by Minepia to strengthen local food production and encourage private sector investment in the agriculture industry, reports Cameroon Tribune.
According to the company, the project aims to produce 3 million tilapia fingerlings, two million catfish fry as well as 100,000 brood stock per year.
In addition, the firm intends to produce two million tons of catfish, three million tons of tilapia, 50 tonnes of shrimps per year and build an animal feed production plant able to produce 30 tons of fish feed hourly.
Ultimately, this project is set to generate around 300 direct jobs and 1,000 indirect jobs throughout the aquaculture value chain in Cameroon.
Following its implementation, it will reduce the fish deficit in the country which stands at 160,000 tons against a local production of 335,000 tons and demand of 500,000 tons per year.
The reports have revealed that in order to meet the demand, Cameroon spends an average of XAF100 billion (US$181m) to import frozen fish yearly.
In other related news, Cameroonian animal feed producer, SPC (Société des provenderies du Cameroun), is undertaking a XAF5 billion (US$9m) investment plan to expand its footprint in the country.
According to the company, it seeks to open two new plants in Yaoundé and Nkolmelen, to produce animal feeds and a set up a hatchery.
The investment is aimed to meet the rising local demand and the plants will be an addition to its Bafoussam facility.
The first phase of the Yaoundé plant is scheduled to be complete in the second half of 2022, to produce crumbles and pellets for chicken.
In the second phase, the company will start producing fish feeds, which are currently imported by the country.
Overall, the Yaoundé plant’s yearly capacity will be 50 to 80 tons, built with a XAF4 billion (US$7.2m) investment, reports Business in Cameroon.
In Nkolmelen, SPC is building a hatching egg production farm initiated by Agrocam, its sister company.
The establishment will include 12 buildings hosting 120 breeders, aimed to produce 20 million hatching eggs.