On July 20, 2022, in Yaoundé, Cameroon - Mavin Group and Fish&Co Company signed a cooperation agreement in the field of aquaculture.
The ceremony was attended by Mr. David John Whitehead, Chairman of Mavin Group and other Mavin's aquaculture experts. From Fish&Co, there were Mr. Kouinche Albert, Chairman and relevant officers. Attending and witnessing the cooperation signing ceremony were Dr. Taiga, Minister of Livestock and Fisheries of Cameroon.
The Minister of Livestock and Fisheries of Cameroon and Fish&Co listened to Mavin's Introduction
The overall objective of the project is Mavin and Fish&CO will work together to develop a sustainable fish farming industry in Cameroon to cover the demand for aquaculture products (inputs and finished products) across the value chain.
Specifically, the two sides will cooperate in training, design, construction and production of infrastructure to support sustainable fish farming in Cameroon and the management of a cost-effective feed factor.
Mavin Chairman and fisheries officers Mavin also spent a lot of time directly visiting the aquaculture facilities and factory system of Fish&Co.
Signing MOU between Mavin Group and Fish&Co
On the occasion of the visit and work in Cameroon, President Mavin presented a bronze drum, a gift imbued with Vietnamese traditional culture, to Mr. Kouinche Albert, Chairman of Fish & Co. , expressing the desire to cooperate not only to bring benefits to the two companies but also to contribute to tightening the relationship between the two countries Vietnam - Cameroon.
With a population of 25.3 million inhabitants in 2019 according to estimates of the Fund of United Nations for the Population (UNFPA), annual requirements for fishery products are around 550,000 tons per year. However, according to Dr. Taiga, Minister of Livestock and Fisheries of Cameroon, the country’s cumulative production with that of aquaculture is estimated at nearly 335,000 tons.
The supply deficit is covered by imports which stand at nearly 185 000 tonnes (despite the downward trend for 3 years), from China and Vietnam (leading aquaculture producers in the world). But neither aquaculture farming nor imports meet growing national demand due to rapid population growth. 1.3 Notably, current selling prices of Tilapia, pangasius and catfish are high compared to neighboring countries. This is due to insufficient quality inputs (fingerlings and feed), which are determinants of the final quality and price of the fish. In Cameroon 80% to 90% of fish feed is imported, with a very high cost per kg of around 1500 FCFA and more for grow out feeds. This cost represents 70% of the production costs of a 650 gr fish.
“This is why to lower this production cost and by extension the price of reared Tilapia, carp, pangasius and catfish, it is necessary to establish an input production plant (fry and feed) in Cameroon and an industrial unit for growing fish, through these aquaculture projects”, emphasized Dr. Taiga.
Dr. Taiga, Minister of Livestock and Fisheries Cameroon (center)