NOMQHELE DUBE AND TANAKA CHIGUVARE: SA fishing industry poised for growth amid global decline

Fishing boats in Gansbaai harbour. Picture: SUNDAY TIMES

SA has a rich and diverse marine ecosystem with more than 10,000 recorded marine plant and animal species, including vital habitats such as estuaries and mangroves. To preserve the sustainability of the industry, the country enforces the Marine Living Resources Act, which regulates fishing activities and safeguards marine biodiversity.The fishing industry consists of two main subsectors, deep-sea trawling and aquaculture, both of which are concentrated in the Western Cape.

Oceana Group and Sea Harvest are top investments in Brimstone Investment Corporation. Apart from specialising in hake, prawn and abalone fisheries, these companies also have a retail division that supplies seafood products both domestically and internationally.The Covid-19 pandemic had a big effect on the fishing industry, with disruptions to supply chains negatively affecting catch, exports and seafood product sales across the main markets .

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Source: finweek - 🏆 19. / 63 Read more »