Tag: Fish & Seafood

Kenya’s Lake Region Economic Block to benefit from US$1.1m fish processing plant

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KENYA – Kenya’s county government, Kakamega, has commissioned a fish processing plant with a capacity to process 30 metric tonnes of fish per day, providing a ready market for farmers in the 14-member Lake Region Economic Block (LREB). The facility which has been under construction since 2009, received initial financial backing of Ksh. 60 million from the National Government with the county government spending another Ksh20m. To propel the finalization of the project, the investor running the factory, DAS Limited invested Ksh40 million. “The County Government appreciates our partners, the…

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Kenyan based aquaculture entity Victory Farms ropes in new investor, gets multi-million-dollar backing

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KENYA – East Africa’s largest commercial fish farm, Victory Farms, has received a multi-million-dollar mezzanine debt investment from social impact investor specializing in the African agriculture sector, AgDevCo. The investment will support the company’s continued growth and impact, including the construction of a feed mill and expansion into new countries in the East Africa region, growing its foot prints beyond Kenya. Founded in 2015, Victory Farms operates a vertically integrated business, with its own hatchery, nursery ponds and deep-water cages in Lake Victoria, plus a processing plant and a distribution…

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Scottish Sea Farms stregthens position in UK salmon market with acquisition of Grieg Seafood Hjaltland

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UK – Scottish salmon farming company Scottish Sea Farms (SSF) has agreed to acquire local peer Grieg Seafood Hjaltland UK (GSHU) in a deal estimated to be worth £164 million (about US$226.69 million).  With operations in Shetland and Isle of Skye, GSHU currently has 21 active seawater sites, a freshwater hatchery and a processing facility – harvesting around 16,000 tonnes (HOG) of Atlantic salmon in 2020.  Its acquisition, therefore, aligns well with SSF’s long-term strategy to strengthen its presence in the region, enabling it to deliver optimal biological performance and help meet the rising demand for premium quality, Scottish-grown salmon.  Scottish salmon…

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Kenya’s coastal region to benefit from US$92.7m fisheries project supported by World Bank

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KENYA – The President of Kenya, Uhuru Kenyatta has launched the Ksh 10 billion (US$92.7m) Kenya Marine Fisheries Socio-Economic Development Project, aimed at uplifting the living standards of fishing communities along the Kenyan coast and promote sustainable exploitation of the country’s fisheries. The government initiative, supported by the World Bank is targeted to benefit 19 sub-counties in Kwale, Mombasa, Kilifi, Tana River and Lamu Counties. As part of the project, the government seeks to establish a fish processing factory in Lamu, as it targets to attain a landing of 300,000…

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Imperial expands its cold chain capabilities, product offering with acquisition of Deep Catch Namibia Holdings

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SOUTHERN AFRICA – Imperial, South Africa headquartered logistics company is eyeing full acquisition of the leading supplier and distributor of perishable foods in the SADC region, Deep Catch Namibia Holdings, for an estimated purchase consideration of N$633m (42.5m). Imperial through its wholly-owned subsidiary, Imperial Capital Limited, has entered into an agreement with the investment consortium backing Deep Catch i.e., Salt Capital, German development finance institution (DEG) and management shareholders for a possible sale deal. According to Imperial, the transaction is still subject to the fulfilment of regulatory and other outstanding…

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European seafood processor Sykes invests US$47.7m in Morocco to establish two processing plants

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MOROCCO – Sykes Seafood, British specialist in seafood processing, is seeking to invest €40 million (US$47.7m) in the establishment of two new factories in Northern Morocco over the next two years. The new facilities will join the company’s large-scale prawn peeling plant in Tangier, operated by Klaas Puul. The Netherlands-based Klaas Puul, has been operating in Morocco since 1989 and was acquired by Sykes Seafood in 2020, creating a €300m (US$358m) pan-European seafood business. Klaas Puul specializes in shrimps, prawns, and mussels while Sykes offers both saltwater and freshwater fish.…

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Mozambique, IFAD launch US$49m aquaculture project to boost sector

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MOZAMBIQUE – Mozambique has partnered with the International Fund for Agricultural Development (IFAD), to launch an aquaculture projected aimed to support more than 88,000 rural small-scale fish farmers. The PRODAPE project, worth US$49m, targets to support the transition of the aquaculture sector from subsistence to commercial production, underpinned by the involvement of small-scale farmers, particularly women and unemployed young people ready to embrace aquapreneurship. Through this, the initiative will play a crucial role in the socio-economic development of the country and improve nutrition, food security, and increase production and incomes.…

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Rising demand of fish products boost Oceana Group’s bottom line performance recording 5% jump in profit

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SOUTH AFRICA – Africa’s largest fishing company, Oceana Group, has continued its growth trajectory started three years ago, reporting a rise in profit before tax by 5%, headline earnings per share up 4%, and earnings per share up 13% at the interim stage. Group CEO, Imraan Soomra said that demand remained strong right across its product spectrum, despite the COVID related supply chain disruptions. “I am particularly pleased that we have maintained our growth trajectory in this environment, delivering further earnings growth after a strong performance last year. “Furthermore, we…

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Thai Union group achieves 100% ownership of German sea food company Rügen Fisch

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GERMANY – Thai Union Group, one of the leading sea food companies in the world and the number one producer of shelf-stable tuna products, has taken full ownership of Rügen Fisch, a German manufacturer of shelf-stable seafood products. The Thailand-based company acquired a majority, 51% holding in Rügen Fisch in 2016 and has now purchased the remaining 49% stake. Headquartered in Sassnitz, Rügen Fisch supplies ambient and chilled fish products to retailers across Germany through its brands, which include Rügen Fisch, Hawesta, Ostsee Fisch and Lysell. The company which currently…

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Marine Stewardship Council partners with South African fisheries to achieve sustainable operations

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SOUTH AFRICA – Fisheries in the Global South provide nearly three-quarters of the world’s fish and seafood, but many of them are fishing unsustainably, often because they lack the resources and the capacity to improve the way they operate. Marine Stewardship Council (MSC), an international non-profit organisation which sets science-based standard for sustainable fishing and seafood traceability, collaborates with other NGOs, governments, retailers and funders, to provide a pathway for fisheries that face obstacles in reaching sustainability. Beginning with comprehensive analysis of fisheries and their environments, MSC pathway projects implement…

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