Raasi Ahmer Fishing Company (“RAFCO”) was established in 1997 in Bosaso, Puntland – the commercial and fishing hub of Puntland. The owner has extensive fishing experience dating back to 1969. He is a trained boat builder and boat repairman, and was one of the partners who started the first, and the dominant, boat-making factory in Bosaso. Prior to receiving financing, RAFCO only had a third of its fishing fleet in operation, not due to technical know-how, but due to financial constraints.
RAFCO received a capital investment, with help from Shuraako, to expand its fishing fleet by restoring old boats and procuring new ones. The investment supplied each boat with fishing equipment and allowed RAFCO to procure cooling facilities to prevent post-harvest losses. The investment grew RAFCO’s catch capacity fivefold and created 14 full-time and three seasonal positions.