FISHING FOR GROWTH

Fishing used to be one of the main economic activities before the civil war, and although it has slowed to a standstill, the potential is still there. Therefore, in order to capitalise on this resource and re-build the sector, a fisheries agreement with the European Commission is in the works to bring fishing activities up to international standards. The agreement would stamp out illegal fishing, improve the quality of local fish products and make Sierra Leone eligible for export to EU member countries. This should also support the growth of companies like the Sierra Fishing Company, that has been fishing on the coasts of Sierra Leone since 1976.

If the EU agreement is passed as expected, the Managing Director of the Sierra Fishing Company believes that his company will benefit and grow thanks to new export sales. "We are preparing for expansion plans and continuing to open in other districts cold rooms for the distribution of fish" says Bassem Mohamad. "We have also finished our feasibility studies to open a brand new processing plant to EU Standards".

Mohamad adds that the expansion of the company is mostly slowed down by financial constraints, reason for which he plans to sell 25% of shares to a bank or foreign investor. With increased access to European markets, Mohamad hopes that the fishing business will regain its historic importance in Sierra Leone.