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Ridler, N.; Hishamunda, N. The aim of this paper is to examine policies to promote commercial aquaculture, especially in sub-Saharan Africa. Commercial aquaculture is defined as the rearing of aquatic organisms with the goal of maximizing profit. Commercial aquaculture contributes to food security, directly by producing food fish, and indirectly by generating employment and income for the purchase of food. It can also contribute to a country's balance of trade as an export, or as an import substitute, and can be a source of tax revenues and a stimulus to technological advances. Commercial aquaculture may also bolster the development of isolated regions, thereby discouraging outward migration. Since it depends on private rather than public funds, it can be sustainable; its sustainability depends on adequate use of resources rather than tax revenues. However, some forms of commercial aquaculture, especially coastal shrimp farming, can cause environmental costs and social conflicts. For commercial aquaculture to develop, macroeconomic conditions, and cultural and political attitudes must favour entrepreneurship. Cultivation practices must also be environmentally friendly. In sub-Saharan Africa, stabilization or decline of the capture fisheries, growing shortage of fish for domestic consumption, opportunities for exports, suitable land and water, and cheap labour combine to produce prospects for commercial aquaculture development. However, the sector is generally very small in some countries, or has not taken off. It is hampered by difficult access to credit, shortages and high cost of feed, lack of good quality seed, and a low flow of domestic and foreign capital to fuel investments in the sector. A mix of good governance, openness to trade, macroeconomic growth policies, emphasis on private investment as a source of wealth, guaranteed land security, tax exemptions and tax holidays, loan guarantees, debt-equity swaps, promotion of large farms, producer associations, strategic planning, and existence of transparent regulatory procedures are key ingredients in attracting investors to commercial aquaculture and in positively influencing long-term development of the sector in sub-Saharan Africa. |
