By July 17, 2019

Lesotho To Benefit Immensely From First African Salmon Farm

By July 17, 2019

Lesotho, a landlocked country seated in Southern parts of Africa is known for its exclusive quality pure water which is one of the purest in the world.

A new deal between Lesotho National Development Corporation (LNDC) and Pure Salmon, a global salmon farming company, will see Africa’s first Salmon recirculating aquaculture system (RAS) developed.

The land-based farm with capacity for 20,000 tonnes due to complete in 2023 will generate 250 full-time jobs and will be powered on 100 percent renewable energy.

Salmon provides the highest amount of calcium as compared to other types of fish owing to which the salmon market has been witnessing a positive growth.

Salmon has also become a popular food product among health-conscious consumers as it is a rich source of omega-3 fats, EPA and DHA and, thus provides numerous health benefits such as decreasing the risk of obesity, diabetes, heart diseases among others.

Today, farmed salmon is preferred more by consumers owing to a significant rise in salmon aquaculture.

Pure Salmon is leveraging on Lesotho’s pure waters to produce more quality salmons to beat the rising demand.

If the project becomes a success, it will produce annual revenues accounting for eight percent of the country’s GDP.

As part of the deal, Pure Salmon and 8F Asset Management, its parent company will set up a foundation to support the local community. This will entail an aquaculture education program at the National University of Lesotho and international internships at Pure Salmon’s facilities across the globe.

Schools and orphanages will benefit from the venture as one million free meals will be provided during the first ten years of the facility’s operation.

Communities which offer their unused land for the salmon farm will also be given shared through direct ownership of the site.

While signing the deal, LNDC CEO Mohato Seleke said, “I sincerely believe this partnership will yield tremendous results for Lesotho as a whole. The Pure Salmon product is a high-end consumable, and Lesotho boasts the perfect conditions for producing it. It is for this and numerous other reasons that we are engaging in this agreement with Pure Salmon and 8F.”

Stephane Farouze, board director of Pure Salmon and chairman and founder of 8F Asset Management, said, “Through our partnership with the LNDC and investment in the Lesotho site, we hope to provide increased opportunities for the local community through the production of sustainable salmon.

Whether that’s providing new jobs, offering training opportunities in the aquaculture industry or contributing to the LNDC’s commitment to diversify the country’s agriculture industry, we look forward to bringing this project to fruition.”

Pure Salmon already produces salmon in a RAS (recirculating aquaculture system) facility in Poland, developed with technology from Israeli RAS expert AquaMaof. It also has projects underway in Japan, China, Bahrain, America, and Europe.

Featured Image Courtesy: The National

Hi! Here’s a little something for you. In the first edition of The African Podcast by WeeTracker, get access to the formula behind ‘Building a $ 100 Mn company (twice) in Africa’ with the co-founder of Andela & Flutterwave – Iyinoluwa Aboyeji. The exclusive podcast goes live soon, Subscribe here to listen to it.