Chicoa, a Mozambican company that farms tilapia fish, has secured funding of US$4 million from Aqua-Spark, an investment company based in Utrecht, the Netherlands, the company said.

Another project that will receive the remainder of the US$4 million is US company Calista, which is seeking to develop an alternative to conventional fish.

Chicoa, in turn, was selected to receive funding from Aqua-Spark “for their good practices and available potential for future expansion in sub-Saharan Africa.”

“Africa faces an annual deficit of protein of 1.6 million tons and we intend to help address this problem by supporting tilapia production units in captivity in various regions,” said Mile Velings, founder and managing director of Aqua-Spark.

Aqua-Spark, established in 2013, is the first global investment fund exclusively dedicated to the promotion of aquaculture. (macauhub/MZ)