Fred Formanek's viewpoint
With 20 years’ experience in various agricultural and aquaculture projects, Fred Formanek is part of the management team for South Africa-based Advance Africa, a leading developer of sustainable agricultural and aquaculture projects in Southern Africa.
Why does Advance Africa invest in aquaculture?
Firstly, because aquaculture is demand-led: we are all aware of the global shortfall of fish, both freshwater and marine species. The key is to grow the right species in an environmentally ideal location, which is called the ‘natural strategic advantage’. Aquaculture also offers long-term improvement to livelihoods. Employment opportunities throughout the value chain are significant, particularly when investment is made at scale. Often, such investment also directly results in improved food security. Furthermore, such aquaculture projects are generally located in rural communities, leading to skills development and training at grassroots level.
Why is Asia the target market for your Lesotho Highlands Trout project?
We have developed the Highlands Trout business in Lesotho because the environment is ideal. The production cost of trout is such that a high sales price has to be achieved for a business to be economically viable. Salmonid species are very much in demand in Asia, and this offers an opportunity to develop a long-term, sustainable aquaculture business in Lesotho. In this instance, the focus remains on maximising employment throughout the value chain and developing a new industry in the country. For other species that we are involved in - tilapia and catfish - the production costs are far lower; these investments specifically contribute to food security in local and regional markets.
What does an African country require to establish a sustainable and successful aquaculture project?
In the first instance, there needs to be an ideal environment for a specific species of fish, an existing market for the species and a unique opportunity. Beyond the requirement of political stability, countries also need an enabling environment: the aquaculture sector must be regulated, monitored and controlled; certification of the country, the water body and farming operations are important; and investment incentives obviously play a significant role. Further requirements include infrastructure, suitable logistics, a cold chain, availability of feed and seed stock, and a supply of fingerlings (juvenile fish) with the correct genetics.
