Project: Establishment of a fish mill factory
There are many aquaculture companies who require feed for their operations, making this a profitable opportunity for potential investors. Interested investors will have a market monopoly as there is no company operating a mill in the region at the moment.
Benefit to promoter: Animal nutrition and fish feed companies interested in this opportunity will serve modern agriculture and aquaculture with knowledge-based, sustainable feeds and feed ingredients.
Sector at a glance: The fisheries sector is important to national economic development, with an estimated contribution of 3% of total GDP. There are five multinational companies in large-scale aquaculture production on the Volta Lake using cage fishing, while over 100 medium-scale farmers in the Ashanti and Eastern regions farm using fish ponds. The estimated total marine fish production
in 2007 was 400,000 tonnes, while aquaculture brought in 10,000 tonnes. According to the Ministry of Fisheries, the national fish requirement has grown from 676 000 tonnes in 1995 to 840 000 tonnes in 2007. The deficit between fish requirement and production is therefore a prime motivation in the development of aquaculture and related industries.
Market
There is a large and ready market for a fish feed industry. The biggest fish farm in West Africa, Tropo farm in Akosombo, is located in Ghana. There are also other numerous farms that are in need of reliable supplies of fish meal. Being a member of ECOWAS, a market with a population of 250 million people, Ghana has significant potential of becoming West Africa’s hub for fish mill operations.
Reasons to invest in Ghana
Ghana is ranked the best in West Africa and the sixth in Africa for its good investment climate (World Bank's Doing Business Report, 2008).
Investors benefit from various incentives such as:
Tax holidays, 100% tariff exemption on production equipment, locational incentives, low corporate tax, 100% profit expatriation; and a stable environment conducive for investment.
For further information on this and other investment opportunities in Ghana contact GIPC.
Key contact: Stephen Debre
Senior Investment Officer
Agric & Agribusiness
Email: sdebre@gipcghana.com
Website: http://www.gipcghana.com
