Somalia looks to tap $2b fisheries economy with new policy

Fishing in Somalia

Somali vendors offload fish at Bosaso beach in Puntland on December 17, 2016.

Photo credit: File | AFP

Somalia authorities are working to tap into the vast fisheries economy estimated to be worth $2 billion, by marketing the catches to the neighbourhood in the East African Community.

Last week, Somalia unveiled a marine welfare project, known locally as Badmaal, funded by the World Bank to the tune of $50 million. Badmaal is meant to improve fishing infrastructure for small-scale fishers by building facilities such as jetties, landing bays, processing areas and safety response.