Fisheries



A coastline that stretches 850 km with an annual potential sustainable catch of 40,000 MT/year of mixed species including serranidae, carangidae, lutjanidae, haemullidae, lethrinidae, mullidae, scombridae, along the Red Sea on the Gulf of Eden, where Guul Group has established good contacts, seeking to create alliances in these markets with its diversified portfolio. The company's strategy in the fisheries market will be to work with local partners who have a better market insight, as an initial move towards increasing its market penetration. 40,000 MT/year exceeds demand for local consumption and presents great opportunities for export to the 84 million Ethiopian markets next door and the lucrative oil rich Middle Eastern market just across the Red Sea. The sector has huge potential for development. Scarcity of ice and lack of freezing & cold storage facilities limit the opportunities for fishing along the entire coast. Lack of experience in the maintenance of boat engines and appropriate workshops with qualified technicians bring many challenges and thus opportunities for Guul Group, partners and investors. Priorities and strategies for Guul Fisheries Group are to provide solutions to these challenges and obstacles in the region with the aim of providing procurement, cold chain facilities whilst trying to explore the possibilities of establishing (with local and foreign investors) fish processing and canning factories, fish farming and aquaculture.




 
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