Mozambique invests 180 million meticals to promote fishing

21 November 2011

Pemba, Mozambique, 21 Nov – The promotion of small-scale fishing in Mozambique has cost the Mozambican state around 180 million meticals since 2005 and has benefitted 2,000 operators, said Albino Magona, the national director of the Fishing Promotion Fund (FFP).

“Credit was focused on development of small-scale fishing and aquaculture, for which it was necessary to promote technological development, provide loans to modernise the artisanal fishing fleet and improved fishing equipment, all with the aim of encouraging fishing in the open sea,” said the national director of FFP.

Speaking to Mozambican newspaper Notícias on the sidelines of the international conference on aquaculture investment, held in the city of Pemba, Magona said that it had been necessary to promote and encourage investment in aquaculture, particularly in the cities of Xai-Xai and Quelimane, by providing funding to recent graduates from the Higher School of Marine Sciences in the provincial capital of Zambézia.

Magona added that this was due to the need to meet Fishing promotion Fund targets based on providing financial support to activities to encourage private investment, particularly from Mozambican nationals, in areas considered to be a priority.

Magona also called for the need to continue attracting financial institutions so that they can provide the necessary funds for fishing operators to do what is required of them by creating jobs, increase the productivity of fishing communities and improve the living conditions of the populations. (macauhub)