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FISHERY
SOME BUSINESS OPPORTUNITIES
The government of São Tomé and Príncipe (STP) is strategically advancing a blue economy plan that presents a unique opportunity for entrepreneurial growth and economic enhancement. Revising its legal and regulatory framework, the government is actively working to create an inviting atmosphere for international companies to establish operations in STP. With an Exclusive Economic Zone (EEZ) that spans over 160 km² and an impressive potential annual fish catch of 37,000 to 45,000 tons, the fishing industry stands out as a compelling investment prospect, ripe for development and innovation. Currently. fishery accounts for approximately 4% of the GDP and employs around 5% of the population.
1. Seafood Processing Plant
Fish consumption in São Tomé and Príncipe is registering a robust annual growth of approximately 6.5%, and global consumption growth stands at 1.5%. This trend underscores the importance of fish as a vital source of nutrition for consumers. The establishment of a seafood processing plant in STP offers substantial profit potential, particularly for companies committed to delivering high-quality seafood products. Potential investments could focus on facilities that specialize in specific species, such as octopus and oysters, or on operations dedicated to freezing fish for distribution within the national market and through international supermarket chains. The potential for growth in this business model is substantial. Currently, the international fishing fleet operating within our territorial waters consists of approximately 40 vessels, which collectively harvest about 823 tons of fish each year. However, the absence of a processing facility requires these vessels to suspend their operations and transport their catches to the nearest port for transshipment once they reach their capacity. The development of a local processing plant would enable these vessels to swiftly unload their catches and resume fishing, thereby optimizing harvesting cycles. Furthermore, such a facility could enhance local processing capabilities, increase export opportunities, mitigate the effects of low supply periods, and attract tourism to the region.
2. Fish Farming
The rising global demand for fish highlights the urgent need for sustainable practices to ensure food security for all populations. As marine resources are increasingly strained, fish farming emerges as a viable solution to satisfy the demands of both local and international markets. The aquaculture value chain in São Tomé and Príncipe has yet to be fully developed, necessitating further research to accurately evaluate its economic potential within the domestic market. Internationally, the prospects for aquaculture are substantial, especially as the world population continues to grow and global fish consumption is anticipated to increase, even while natural fish stocks face challenges in meeting this demand. Investment in this sector could take the form of establishing and empowering cooperatives that adhere to best aquaculture practices, thereby fulfilling the export requirements of markets with higher consumption potential and focusing on specific fish species such as tilapia. Furthermore, aquaculture not only ensures food security but also addresses unemployment issues in coastal communities that often have limited economic opportunities. This sector promotes sustainable economic growth while contributing to the overall well-being of these communities.
3. Fish And Seafood Marketing
The fish market in São Tomé and Príncipe is currently experiencing substantial growth. With per capita fish consumption exceeding 29.3 kilograms annually and national catches ranging from 9,730 to 11,700 tons, the sector generates approximately 5 million dollars per year, contributing 6% to the national GDP. Nevertheless, there remains considerable scope for enhancing the industry and its economic performance. The expansion of the tourism sector has intensified the existing demand for fish. However, local fishermen are unable to meet the rising demand, primarily due to the constraints associated with their artisanal and semi-industrial fleets, along with a deficient distribution and supply network at key points of sale. This disparity between supply and demand has led to elevated prices, rendering fish unaffordable for a significant portion of consumers. Globally, over 3 billion individuals rely on fish as a source of nutrition, highlighting its critical role in food security. The implementation of marketing-oriented fishing practices through the establishment of improved distribution networks—capable of addressing local market demands and export opportunities—presents an attractive business opportunity. This approach not only promises lucrative returns but also has the potential to bolster the local economy. Integrating this business model with the proposed “Seafood Processing Plant” model would further augment profit potential. Interested in a ready-made business plan for this business idea? Go to the Market Outlook menu.
4. Seafood Medications
The health benefits of seafood have been well-established over time. As noted in various business opportunities, STP possesses considerable marine potential in terms of quantity, quality, and diversity. The production of medicinal products and dietary supplements derived from seafood, such as omega-3 fatty acids and fish maw, represents an innovative opportunity within STP. Currently, the substantial volume of raw materials, estimated between 9,000 to 12,000 tons of fish captured annually for these products, remains underutilized. Investing in this sector not only presents a unique business opportunity with minimal competition but also has the potential to generate several million dollars in profits, particularly in prominent markets such as China and Japan. These markets are currently facing significant supply chain challenges due to overfishing, further enhancing the viability of such investments.
