Fish Farm Center in Cuando Cubango
Menongue, Cuando Cubando province, Angola
Completed in 2020
Aquaculture, Agro-Industry, Water, Education and Professional Training
Angolan Government, Mitrelli Group, Aquafish, Bank Leumi Le Israel, Ashra
This major project integrates food security and human health with eradication of poverty for surrounding communities.
"Fish farming contributes to rural communities by supplying both accessible high quality protein food and a source of income".
- 01 - No Poverty
- 02 - Zero Hunger
- 03 - Good Health and Well-being
- 08 - Decent Work and Economic Growth
- 13 - Climate Action
The local need for fresh fish in Angola is rapidly rising, due to population increase as well as the growing awareness for the benefits of high-quality protein food. While the country’s wild fisheries are struggling to meet demand, Mitrelli Group’s subsidiary Aquafish has established a full-cycle Fish Farming Center, located in the inland province of Cuando Cubando.
This Fish Farming Center is expected to develop and produce over 500 tons of Tilapia per year. The project included all the facilities required for a complete production cycle, with hatcheries, nurseries, grow-up and fish-food instruments, as well as processing facilities, distribution equipment, and even an on-site market.
The first batch of breeding was supplied by leading Aquaculture Israeli-based companies, along with the necessary equipment and technology. Providing technical know-how and professional training for the local staff was an integral part of the project.
The financing model we crafted for this 14 million $ project included an exclusive credit risk guarantee by Ashra, the Israeli export credit agency (ECA). Thus, with an agreement to promote Israeli export, Angolan Government got an A+ rating term funding by Israeli Bank Leumi, to be paid over 10 years.