Presentation Fin4Ag CB Session 1 by Finley Racombo

1. REVOLUTIONISING FINANCE
FOR AGRI-VALUE CHAINS
NAIROBI, KENYA
14 - 18 JULY 2014
MARICULTURE DEVELOPMENT IN THE SEYCHELLES:
CHALLENGES OF A SMALL ISLAND DEVELOPING STATE
Finley Racombo
Chief Executive Officer
Seychelles Fishing Authority, P.O. Box 449, Victoria, Mahé, Seychelles
fracombo@sfa.sc

2. MARICULTURE DEVELOPMENT IN THE SEYCHELLES
Contents
 General information
 The issues
 The scoping study
 The Marine Aquaculture Development Plan
 Acknowledgements

3. General Information
• Land mass = 459Km2 (115
islands)
• EEZ = 1.43 Million Km2
• Population = 90,000 (2010)
• GDP = USD 1.031 Billion
(2012)
• Main industries = Tourism,
fisheries and manufacturing
MARICULTURE DEVELOPMENT IN THE SEYCHELLES

4. Source: Seychelles Fishing Authority Annual Report 2012
The issues
• Gradual decline in traditional capture fisheries has been
observed over the years
• Aquaculture production stopped in 2009 (Prawn)
• Food security concern for government after 2008 global food
crisis
 Decision needed to be taken!
MARICULTURE DEVELOPMENT IN THE SEYCHELLES

5. The start of a scoping study:
• A comprehensive scoping study
to assess marine aquaculture
potential – 2009
• Two components:
– Bio-physical survey
– Socio-economic assessment
MARICULTURE DEVELOPMENT IN THE SEYCHELLES

6. Considerations under the scoping survey
– Environmental conservation
– Tourism industry
– Fisheries sector
– Labour force
– Wide stakeholder involvement
– Potential for future aquaculture development
– Constraints e.g. land and operational costs
MARICULTURE DEVELOPMENT IN THE SEYCHELLES

7. Results of the scoping survey
– It was identified that there was an absence of a
development plan
– High potentials for marine aquaculture
Recommendations
– Marine Aquaculture Development Plan (2011-2015)
– Implementation Plan (2015-2020)
MARICULTURE DEVELOPMENT IN THE SEYCHELLES

8. Marine Aquaculture Development Plan:
• Objectives
– Establish a new industry
– Improve socio-economic factors (GDP,
employment, trade)
– Relieve pressure off capture fisheries
• Outputs
– Environmental Impact Assessment
– Aquaculture Development Zones
– Regulatory Framework
– Codes of Practices (Standards)
– Licence and conditions
 This is different approach
MARICULTURE DEVELOPMENT IN THE SEYCHELLES

9. What’s different about the approach?
– Framework first, investment after
– Involvement of diverse stakeholders
– Coordinated development (used 5 phases)
– Strong support from government and private sector
MARICULTURE DEVELOPMENT IN THE SEYCHELLES

10. Benefits of such an approach
• Decision based on facts as far as possible:
– Coordinated development
• HR, Logistics, capital investment planning, services, markets etc…
• Strong base for investor confidence
• Reduced risks of conflicts
• Better ownership by stakeholders
MARICULTURE DEVELOPMENT IN THE SEYCHELLES

11. Way forward to improve financing in similar projects:
• Carry out analysis to better understand value chains and
markets
• Better understanding will allow specific targeting of finance to
tackle specific issues (e.g. human capacity)
• To make the financing worthwhile it is best to include all
stakeholders from early on (Similar to Seychelles’ approach)
• Financers need to consider the specificities of small islands
states like Seychelles (e.g. vulnerability of being isolated)
MARICULTURE DEVELOPMENT IN THE SEYCHELLES

12. Acknowledgements to:
- Technical Centre for Agricultural and Rural
Cooperation ACP-EU (CTA)
- Kenyan Government and organisers
MARICULTURE DEVELOPMENT IN THE SEYCHELLES

13. Thank you
MARICULTURE DEVELOPMENT IN THE SEYCHELLES
Finley Racombo
Chief Executive Officer
Seychelles Fishing Authority, P.O. Box 449, Victoria, Mahé, Seychelles
fracombo@sfa.sc
www.sfa.sc