Somali Marine Products Cooperative (“SMPC”) has been operating in the fishing sector since 2005 and was founded by three businessmen in Mogadishu. SMPC is a medium-sized fishing processor and wholesaler. It is a prominent fishing corporation in Mogadishu supplying fresh and frozen fish and seafood products to domestic and international markets, including China and Turkey. However, insufficient cold chain equipment and an absence of its own fishing fleet have hampered SMPC’s growth.
With the investment facilitated by Shuraako, SMPC was able to procure equipment to improve its cold chain and freezing capabilities, allowing SMPC to process more fish and export to additional markets. SMPC also used the investment to purchase boats to develop its own fishing fleet. Operating its own fleet has allowed SMPC to have a consistent supply of fish throughout the year, a requirement for many export markets.
Somali Marine Products Cooperative Company Highlights