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Location and Facilities

The fish farm will be situated in Rehoboth, where sufficient land, water and infrastructure exist to run a fresh fish farming project successfully. In addition, the Rehoboth Town Council has shown their willingness to support business ventures, such as fish farms, by providing land, water and other necessary services at relatively low rates.

Fish will be grown using a tunnel system, consisting of 20 ponds, each with a radius of 1,5m. Shade-netting will be erected over the fish ponds at a height of 2,6m, with interlocking to be laid around the ponds.

The project promoters, Prestige Fisheries, have built a remarkable knowledge base on all aspects of fish farming, a fact that will be instrumental in the success of the project.

The Product

Prestige Fisheries will farm mainly tilapia, which is unique to Africa. Tilapia has been regarded in the past as a fish that is particularly suited for extensive aquaculture in third world countries, since it effectively consumes low quality feeds and animal manure. This image of tilapia is changing quickly and it is now intensively produced for first world markets on an increasing scale.

The Market

On a global scale. The major groups of fish species that are commonly cultured are carps, salmons, tilapias, other freshwater, diadromous fish and various marine species.

Africa contributes only 0.4% to the world production although developing countries dominate global production. Thus, there is tremendous potential in Africa. Apart from under-develop biotechnology in the farming, the poor production in Africa is postulated to be due to socio-economic factors such as unfamiliarity with the production systems and market potential.

Financial Projections

Prestige Fisheries plans to grow 150 000 fingerlings to required market size (1kg) over a period of six (6) months. This amount of fish have a potential minimum gross income of N$2 250 000 (US$321,428.60) after six months.

However, the cost for infrastructure development (the tunnel structure and 20 ponds) and operations amount to about N$2 422 000 (US$346,000).