Fishing: Shuraako Impact Investing
Suudi Fishing Gear and Accessories Company (“Suudi”) has been a pioneer in Somalia’s fishing industry and is the largest supplier of fishing equipment in northern Somalia.
Somali National Fishing Company (“SNFC”) is a medium-sized fish processing company that started its operations with a goal of providing quality and accessible fish products throughout Somalia.
The largest manufacturer of artisanal and commercial-sized fishing boat shells in Somalia. Through a Shuraako-facilitated investment, they were able to have on hand the necessary raw materials to manufacture a stock of approximately 24 to 26 fishing boat body shells
Through a Shuraako-facilitated investment, HAFCO was able to hire additional workers and purchase a fish mincing machine, fish skin remover, fish burger machine, cold room chiller, cooling system for the processing area, and digital thermometer.
Sa’aadadiin Fishing “Sa’aadadiin” is a fishing company in Berbera, Somaliland that sells fish to wholesalers and retailers in Berbera, Borama and Hargeisa.
“Daalo” was initially established in 2011 as a business that bought, fileted and fried fish for local consumption in Berbera.
Wadani is a small scale fishing company that owns its own fish retail store (in Berbera) and sells its catch around the Berbera region.
Xamdi Fishing ("Xamdi") started in 2010 with one boat and a retail store in Berbera. The company sells 40% of its fish to retail customers and 60% to wholesale customers.
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.
Hodan Fishing Cooperative (“HFC”) was established in 2011 and is one of the largest wholesale fishing companies in the Nugaal region of Puntland. The company harvests and processes fish in Eyl and distributes and sells its fish in Garowe.
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. SMPC secured an investment to procure equipment to improve its cold chain and freezing capabilities
Founded in 2011 and harvests, processes, and markets fresh fish. Financing enabled Buruuj to increase its harvesting and processing capacity by doubling its fishing fleet and building out its cold chain.
Sundus Business Center is a successful holding company that has been operating in the fishing sector in Puntland since 2008.
Red Sea Fishing Company is a large fishing operation based in Bosaso, Puntland.
Raasi Ahmer Fishing Company (RAFCO) was established in 1997 in Bosaso, Puntland – the commercial and fishing hub of Puntland.
Berbera-based Raas Kateeb Fishing has been in operation for 14 years. The owner has more than 22 years fishing experience; and specializes in Gargor fishing technique.
Berbera-based Al Furqaan Fishing Center has been in operation since 2002, selling their catch in Berbera through direct client sales and to a fish retail shop in Hargeisa.
Al Fatxi Fishing Company (“Al Fatxi”) began operations in 2004 in the port city of Berbera, Somaliland. The owner launched his business with a $150 of savings; and generated revenue by buying fish in Berbera and reselling them in Hargeisa.