African Fisheries and Agriculture
Shuraako facilitates investment into African fisheries and agriculture, two important sectors that are key to growing the economy and improving livelihoods.
Fishing is a vibrant sector along the Somali Coast. With continued support through investment and improved management, the Somali fishing sector has the potential to boost the Somali economy, ensuring long-term growth and stability in the region.
The forum brought together fisheries ministers from each of the Somali Regional Member States and the Federal Deputy Minister of Fisheries.
Soma Chicken Farm, a Puntland-based farm, began its pilot phase in November 2014. The farm raises chicken for both meat and eggs and sells its products to the local market.
Over the last decade, remittance flows from diaspora communities to their countries of origin have been steadily increasing. In Somaliland, the Somali AgriFood Fund drove diaspora investment in agricultural production and boosted the monthly income of Barwaaqo Marketing and Catering Services Company by 500-600%. With government support and agriculture-friendly legislation, agriculture could benefit from this substantial source of funding and expertise.
Mr. Fruto is a storefront ice cream, sweets and juice bar that sells freshly squeezed natural juices prepared and served in plastic cups that can be taken on safari or consumed in the store.
Fishing is a highly profitable venture throughout the world; the tuna industry alone is worth $6 billion globally. Surveys of Somali waters show that there are significant fish stocks off the coast of Somalia—these waters are in fact considered to be some of the richest fishing grounds in the region. Many profitable species live in the waters off the coast of Somalia, data supported by the Sea Around Us Project, which studies the impact of fisheries on marine ecosystems across the globe.
The Somali apiculture industry is still very much in its infancy, yet the potential to reap real rewards, is apparent. Today, though there is not much documented evidence on the current practice of beekeeping in Somalia, institutional memory points to the fact that the industry was making reasonable strides, and prospective for growth was high in the early 1980s. At that time, beekeeping was a private enterprise.
In the Somali-populated territories of the Horn, pastoralism and agro-pastoralism are the dominant mode of livelihood. The northern Somali livestock trade involves the annual export of at least $200 million worth of live animals.
The overall objective of the study, which was funded by UNDP Somalia, was to undertake an assessment of the Puntland fisheries sector through value chain analysis and assessment of the current production and its impacts on the marine environment.
According to data from the Food and Agriculture Organization of the United Nations (FAO), while annual worldwide production of honey, propolis, and beeswax continues to increase, demand remains substantially in excess of supply. Furthermore, Sub-Saharan Africa produces only 9.8% of the world’s honey and 23.5%of the world’s beeswax. Exports from Sub-Saharan Africa are considerably less than imports. Somalia has an even more glaring shortfall. Modern commercial production of honey in Somalia/Somaliland is non-existent.