Fishing: Shuraako Impact Investing
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.
Through a Shuraako-brokered investment, Abu Najiib was able to obtain the funds necessary to construct a new processing location in Burao. The investment also allowed the company to procure three additional fishing boats and processing equipment
“Daalo” was initially established in 2011 as a business that bought, fileted and fried fish for local consumption in Berbera.
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.
Established in 2011, Zakia Fishing Company conducts large-scale fishing operations through a hub and spoke model in the Maydh-Berbera corridor, in Somaliland.
Wadani is a small scale fishing company that owns its own fish retail store (in Berbera) and sells its catch around the Berbera region.
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.
A food grocer in Hargeisa that sells frozen chicken, fresh vegetables, and a seasonal selection of fresh and cooked fish to the two biggest markets in Hargeisa, Somaliland.
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.
CAFCO was founded in Mogadishu in 1988, however due to conflict and instability, the company relocated to Bossaso and Bander Bayla in 1992.
Red Sea Fishing Company is a large fishing operation based in Bosaso, Puntland.
The owner sought an investment to replace the motor and repair his boat so that he could continue fishing and resume providing for his family.
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.
Dur Dur Fishing, Berbera-based, was founded in 1993. Dur Dur, who possess a small fishing fleet, sells their catch in Berbera through their own retail store and in Hargeisa, Somaliland.
Al Fatxi Fishing Company began in 2004, in Berbera, and presently owns two small fishing boats and fish stores in Hargeisa, Burao, and Berbera, Somaliland.
Alla Aamin is owned by an entrepreneur and managed by a group of professional fishermen. The company has been in operation since 2003 running four small boats and a fish shop in Berbera, Somaliland.