US businessman proposes to recover Mozambican Tuna Company

14 December 2017

US entrepreneur Erik Prince, chairman of the Hong Kong-based Frontier Services Group, announced on Wednesday in Maputo the establishment of a partnership with the Mozambican government to recover the tuna company Ematum, according to the Mozambican press.

“We are here to finalise the details of the partnership with the Mozambican government to increase the fishing capacity of the country, and our first focus is Ematum, and we will contribute with training and changes in the logistics structure of the company so that Mozambique is connected to the international fish market,” said Prince, quoted by Mozambican daily newspaper O País.

The businessman, who was the founder of Blackwater Security, a security services company operating in Iraq, said that his company will also focus on improving the protection of Mozambican marine resources against illegal fishing activities.

“We know there is a lot of illegal fishing and we hope to help improve Mozambique’s ability to protect its fish. We have agreements with that in mind. We will also look at other investment areas in Mozambique,” he added.

Ematum was established in 2013 to explore tuna in the country’s territorial waters.

Ematum borrowed US$850 million through a State-backed loan, with part of the money being spent on the acquisition of a French fishing vessel shipyard and maritime surveillance as well as the purchase of military equipment. (macauhub)