PROPOSAL FOR FUNDING FISH FARMING PROJECT IN THE VOLTA LAKE OF GHANA.
Horeb Farms Company Limited is registered company under the laws of
Ghana and has been issued certificate to commence business on the 23rd
May 2011. Horeb Farm has general agricultural certificate which allows
her to go into any aspect of agriculture that is production,
processing, storage and marketing. Horeb Farm can also import
agricultural inputs and export products from the country. The company
is to start it operations with a fish in the Volta region in the
Kpando district. The site for the project has been negotiated for and
Fish farming is an emerging market in Ghana with huge potential. Ghana
has the largest man-made lake in the world with about 265 square
kilometers. The quality of the water is very good for aquaculture.
However this potential is heavily under utilized due to lack of
capital. Fish farming can be done by several methods such as ponds,
pens and floating cages.
Horeb farm will be using a technology called the floating cage system
whereby large quantity of fish is enclosed in a relatively small area
in the water (lake) and nurtured to maturity within a period of six
month. One can have two harvests in a year. The system allows good
monitoring and provision of security since not large area is used.
RETURNS ON INVESTMENT
From survey conducted by the company from few farms and analysis from
production and it is very clear that returns on investment could be as
high as 100% per annum.
The market for the product (fish) is the sub Sahara region of West
Africa which is very large. Ghana meets only 42% of her fish demand
hence large importation of the product into the country. Out of this
small figure, Ghana still export fish produced from her fresh water
sources to the surrounding countries such as Togo, Mali, Benin and
Ivory Coast due to high demand for the fish from Ghana’s water
The amount required for effective implementation of the project which
will enable it make good returns is five hundred thousand to two
million dollars ($500,000 - 2,000,000). This amount will be used to
develop the site, produce cages, pay for fingerlings and feed. Salary
and wages will also be paid from the amount. The Company will be able
to use the amount within two years of operation. This will enable the
company operate about 200 to 300 cages.
HOW TO REPAY AMOUNT
The amount will be repaid in five years with the interest in five
equal installments yearly.
BENEFIT TO ALL PARTIES
This is one project that will be beneficial to all stakeholders namely;
(1) The investor will recover the amount with very good returns. Since
the project site is hours drive from Accra, investor will be able to
monitor every stage of the project and receive monthly progress
(2) The Company (Horeb Farms) will have access to capital funds to
carry out her project and pay back to investor as may be stipulated in
(3) This will create jobs for inhabitant of the community. At least
fifty (50) jobs will be generated when the farm is in full operations
and indirectly over one hundred and fifty since the ladies in the
community will be engage in fish trading.
(4) The company will also execute her social responsibility to the
community by finding their needs and assist the community in that
THE MANAGEMENT TEAM
The Chief Executive Officer (CEO) of Horeb Fish Farms is Mr. Addai
Benjamin Mawuli. Mr. Addai holds bachelor degree in agriculture and
has over twelve years experience in banking and microfinance and
entrepreneur skill development.
Mr. Amedor Williams from Aveme who has over ten years fishing
experience and training in fish farming from Sunwoo fish farms
Mr. Selorm Michael Addai as the site supervisor is trained fish farmer
from youth in agriculture programme.
Mr. Hatse Senanu Operations Manager is a computer programme designer
and holds diploma in logistics
The fishery commission of Ghana is always available to provide
technical support and shall be consulted for advice. The commission
provides technical men for the construction of the cages to ensure
that the proper things are done and to make sure that the location of
the project is appropriate
National fish farmers brigade who are already in the business is also
providing technical advise and that Horeb Fish Farms should register
as a member of the association of fish farmers for free training
The Company (Horeb Farm) will be able to start work few weeks after
funds are made available since all her staff is just waiting to report
The Company has an account with ADB, Kpando branch.