The government of Mozambique wants Ematum fleet to fish for tuna

8 April 2019

The Mozambican government has been conducting consultations to start up the 30-vessel fleet of Empresa Moçambicana de Atum (Ematum), which has been at a standstill in the port of Maputo since its acquisition, said the Minister for the Sea, Inland Waters and Fisheries.

Agostinho Mondlane told Mozambican news agency AIM that the government intends to find a solution for the public company’s fleet built at Constructions Mecaniques de Normandie (CMN), a company based in Cherbourg, northern France, and which since its acquisition in 2013 has not caught a single tuna.

The minister, who spoke last week on the sidelines of the public presentation ceremony of the “Crescendo Azul” conference, taking place in the country on 23 and 24 May, said there are companies operating in the Mozambican fishing market, some based in Mozambique and abroad.

The Minister also said that vessels from Japan and European Union countries account for most of the vessels in the largest tuna fleet fishing in Mozambican waters.

Ematum, whose name was changed in April 2018 to Tunamar, under a partnership with US company Frontier Service Group, as announced in Maputo by Prime Minister Carlos Agostinho do Rosário, is one of three public companies involved in Mozambique’s so-called hidden debt scandal.

Ematum issued bonds in the amount of US$850 million, an issue that has already been the subject of two restructuring processes, with ProIndicus and Mozambique Asset Management also taking on loans of about US$1.2 billion. (Macauhub)