Five of 30 ships ordered by Ematum arrive in Mozambique

19 August 2014

Five of the 30 ships ordered by Mozambican tuna fishing company Empresa Moçambicana de Atum (Ematum) from a shipyard in Cherbourg, France, have arrived in Mozambique, Fishing Minister Victor Borges said two days ago.

The minister also said that the ships would start operating at the end of the year.

Ematum ordered 24 fishing vessels, including line fishing boats and trawlers, and six patrol boats, costing between 200 million Euro (US$267 million) according to the French press.

Ematum took on a loan of US$850 million in the European bond market for this acquisition, which was undersigned by the Mozambican government.

According to Angolan news agency AI the difference of almost US$500 million will be spent on radar equipment, satellite communications, onshore facilities, technology transfer and training.

Ematum is a state company, which is 34-percent owned by state stake holding company Instituto de Gestão das Participações do Estado (Igepe). Fishing company Empresa Moçambicana de Pescas (Emopescas) and investment management company  Gestão de Investimentos, Participações e Serviços (GIPS) also each own 33 percent of Ematum.

In its turn, Emopescas is 80-percent owned by the Mozambican State and 20 percent by fishing fund Fundo de Fomento Pesqueiro (FFP) and GIPS is owned by state social and state security service Serviços Sociais dos Serviços de Informação e Segurança do Estado (Sersse). (macauhub/MZ)