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.
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.
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.
Jiniyeley is a commercial farm located just south of Bosaso, Puntland that has been providing a wide variety of agricultural products to loyal customers for over 26 years.
Ileeye Camel Dairy sells camel milk and male calves to customers throughout Somaliland. The farm, established in 2005, is located in the Hawd pastoral zone of Farawayne District, about 30 km south of Hargeisa.
Mandeeq Poultry Company (“Mandeeq”) was established in Hargeisa in 2015 and is the only large-scale poultry farm in Somaliland. It sells fresh wholesale eggs, feed, and chickens to local Somaliland markets, where all other competitors import their products.
Raaho Farm (“Raaho”) is a female owned and operated farm located in Jibgale, 15 km outside of Garowe, Puntland.
Soma Fishing was established in Berbera in 2011. The owner has been steadily expanding Soma Fishing’s fleet to meet the growing demand for fish in Somalia.