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Fish Farming Company To Go Public


2006-01-23 16:58:20
This article has been read 1140 times.

A Ghanaian/Dutch Company engaged in fish farming on commercial basis in the Tono Irrigation area in Navrongo in the Upper East Region plans to be listed on the Ghana Stock Exchange by the next two years.

The company, Newco API, is therefore, seeking interested partners to be able to expand its equity base to achieve greater and deeper involvement in acquaculture production and development at the community level.

Mr Peter Schaeffers, Chief Executive Officer of Newco, who announced this to newsmen at his farm also said by the next two years, Newco would start training more people in tilapia fish farming in the catchment areas under the outgrower scheme.

This, according to him, would be done by using 100 per cent local raw materials in its production process, and said the aim was to help reduce rural poverty in Navrongo which is one of the economically less endowed regions in Ghana.

Mr Schaeffers said his company chose Navrongo as a result of its good source of water and also believed fish farming offered a multitude of possibilities to contribute to local development.

The Newco fish farm, he stated, had a state of the art hatchery, training facilities and 60,000 metric tonnes of specially designed grow-out ponds.

It also has an incubation facility that produces fingerlings and said his company currently produced an average of 800,000 fingerlings per annum and hoped to increase its production capacity to 5 million fingerlings in the next two years.

Newco, Mr Schaeffers said had a dynamic team of local and international experts who were capable of assisting other commercial acquaculture enterprises as well as development partners in Ghana and in the sub-region.

source: graphic

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