The fisheries sector is one of the biggest contributors to the economy. In fact, the industry is prospering more than ever before in terms of raising revenue from fishing licences. Although the current fleet of around 45 foreign vessels, which dominates the industrial fishing scene, is smaller than in the past, the level of income derived is higher than at any time in the country’s history.

‘A virgin country for investors’ Okere Adams

“I feel very proud because at this time in our history we have raised the largest amount of revenue ever, even with the lowest number of boats,” says Minister of Marine Resources, Okere Adams.

Foreign fishing vessels are starting to return in numbers, lured by Sierra Leone’s large reservoir of virtually untapped fish stocks. There are hopes to raise the number of vessels to as many as 150 without jeopardising the fish resources. In the old days, half the fleet was made up of vessels from the Soviet Union.

Today, the mix includes Spanish, French, Chinese and Egyptian vessels.
Naturally, fish forms an important part of the government’s strategy to build food security. As the most widely used animal protein in Sierra Leone it has a vital role to play alongside staple crops such as rice. The aim is to increase fish production substantially from the current level of 65,000 tonnes to some 200,000 tonnes by 2007.

Nearly three-quarters of the fish consumed come from small local fishing operations

As well as boosting commercial fishing activity, there are plans to develop the small-scale local fishing sector. “We are also concentrating on artisanal fishing, because 70 per cent of the fish we eat here are sourced from local fishermen,” says Mr Adams.

The aim is to create secure employment for the country’s fishermen as well as to provide more food for the people of Sierra Leone.
“We will soon be distributing some fishing gear to the artisanal fishermen along the coast. We will be giving them the equipment free of charge. Our aim is to assist them by supplying nets and machinery.”

There is also considerable potential for foreign investors. Sierra Leone is home to perhaps the largest stocks of lobster and shrimp in the whole of west Africa. Mr Adams says the new investment code is designed to help foreign and local players tap the opportunities in the fisheries sector. “We really are putting things in place to make sure that whoever is investing will be met with a very simple and transparent sector. We will also try to help them as much as possible with no interference.”

The continued rational development of the fisheries sector is being supported by the World Bank and other donor institutions. The African Development Bank, for example, has provided funding to assist the ministry strengthen its surveillance methods to protect its stock from poachers. Some modern trawlers are still able to avoid detection, threatening the country’s precious marine resources and cheating the country from much-needed income. There is also ongoing investment in the marine infrastructure, in areas such as small jetties and other onshore facilities, to assist the overall development of the sector.

Mr Adams says the return on investment in the fisheries sector can be just as lucrative as in other areas of the economy, such as diamonds. In addition, the benefits can also come through a lot quicker. “I think our country is a virgin country for investors and we have about the best investment code on the west coast of Africa. We had to offer much more than other nations because of the competition.”