Mozambique
Sector
Aquaculture & Mariculture
Investment opportunity: Expansion of the fisheries and aquaculture sectors
Sector: Fisheries/aquaculture
Location: Lake Niassa, Cahora Bassa reservoir and Massingir dam
Summary: The ministry of fisheries is seeking investment in developing and modernising post-harvest operations such as fresh fish handling, processing, refrigeration and storage, transport, distribution and packaging. Other opportunities would interest boat and outboard engine repair businesses. The absence of post-harvest facilities in almost all landing sites contribute to harvest losses of more than 50%. Mozambique hopes that further investment will streamline and formalise the trade in processed fish, and also lead to increased trade in fresh fish.
Sector: The fisheries and aquaculture sectors produce prawns, shrimps and other products that do exceptionally well in European and Asian markets. There is enormous potential along the 2 700 km Indian Ocean coast line. The sector contributes roughly 3% to the GDP. Lake Niassa, Cahora Bassa reservoir and Massingir dam are the major water bodies that are currently supporting the fisheries industry. Apart from Cahora Bassa reservoir where semi-industrial fisheries for sardines have been developed, no significant development has been achieved in other inland waters. According to Herminio Tembe, the director of economy in the ministry of fisheries 'very little investment has occurred to take advantage of opportunities in post- harvest operations, yet the profits made in the niche are significant'.
Specific incentives:
• Exemption from payment of customs duties and
VAT on the import of equipment classified as class “K” in the Customs Tariff Schedule including the accompanying spare and accessory parts.
• 80% reduction in the corporate tax rate until 31 December 2025
• Cost of professional training deducted from taxable income
For more details contact the CPI
Key contact: Mussa Usman
Deputy director, CPI
Email: musman@cpi.co.mz
