Fishing: Shuraako Impact Investing
Kalluun Maal Fishing Cooperative is a fishing company that was established in 2018 through the merger of two small-scale fishing companies and two additional investors.
Yustan Seafood Processing is a fish processor and wholesaler. They are the largest Somali fishery exporter to Ethiopia, with cold chain storage facilities in two cities and a network of vendors in four regions.
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 seafood processing and cold storage company located in Bosaso, Puntland. Through a Shuraako-facilitated investment, HAFCO was able to hire additional workers and purchase a fish mincing machine, fish skin remover, fish burger machine and more.
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.
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.
Ras Asayr Fishing Company (“Ras Asayr”) was established in Bosaso, Puntland in 1997. The company’s main line of business is harvesting and processing sea cucumbers and fish.
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.
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.
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.
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.
Today, CAFCO has a diversified revenue stream that includes services such as selling fresh fish, selling fuel for fishing boats, repairing and servicing outboard engines, and refilling oxygen tanks for lobster divers.
Sundus Business Center is a successful holding company that has been operating in the fishing sector in Puntland since 2008.
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 (“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.
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.