Chicoa is a Tilapia fish farm at the Cahora Bassa dam in Mozambique. The business started its operation in 2015 and its ultimate goal is to have a fully integrated fish farm with 5,000 MT p.a. production capacity, and an integrated fry and feed production on site. This will be complemented by a network of artisanal out grower fish farmers, who will have access to fry and feed and technical assistance. CFC funds will be used to provide working capital for Chicoa’s fish feed purchases, being the major cost factor in aquaculture. The fish are sold through a combination of direct retail, intermediary traders, and small-scale fishmongers on local markets, typically women.
By early 2020, Chicoa has expanded its production capacity to 1,800 MT fish per year and has become self-sufficient on fish fry production. During the first three quarters of 2019 the company produced 250 MT Tilapia which are being sold fresh on ice through different market channels in Mozambique, Zambia, South Africa and Malawi. In addition to these existing markets in Mozambique, the international extractive industry (gas and mining) is moving into northern Mozambique and requires large amounts of protein for its workers. Chicoa has commenced discussions with some of the companies to supply frozen filets.
Chicoa company staff grew to 77 employees and first trials with a small number of artisanal outgrowers have commenced.
|PROJECT OVERVIEW CFC-2016-08-0022 and CFC-2018-12-0024|
|Project type:||Regular project||Organization:||Chicoa Fish Farm|
|Commodity:||Seaproducts||CFC Financing:||USD 1,500,000|
|Country:||Mozambique||Cofinancier (name and amount):||Aqua-Spark: USD 900,000
Equity investor: USD 1,600,000
|Form of finance:||Loan||Target Impact indicators:||-Total jobs created: 250
-Income/job/year: USD 5,000
-Number of out grower fishermen: 20
-Number of benefitting BOP marketers: 1,700
-Incremental income/BOP marketer: USD 1,500 p.a