Mr Davies said that the ADEP would develop the sector as it offers a significant grant to amaximum of R40 million for new and expansion projects
"South Africa is currently at the bottom of thedevelopment curve and still in its infancy stage when it comes to the aquaculture sector. South Africa only contributes about one per cent of Africa’s aquaculture production. This launch today can be used as an opportunity to grow the sector in the next few years to remain competitive globally," said Mr Davies.
He also said the programme has enormous benefits that can contribute meaningfully to job creation, food security, foreign currency and skills development.
"The East London Industrial Development Zone (IDZ) has over the years played a significant role in the aquaculture sector and given enough resources and investments we can multiply the work in other parts of the country," added Mr Davies.
The Acting Director-General at the Department of Agriculture, Forestry and Fisheries (DAFF), Mr Sipho Ntombela said aquaculture is one of the key government priorities that also forms part of the Industrial Policy Action Plan and the New Growth path.
"DAFF and the Department of Trade and Industry have finalised and tabled the National Aquaculture Strategic Framework that will look at increasing our market share globally, promote the Broad-Based Black Economic Empowerment (BBBEE), encourage research and development, and strengthen our small scale in the sector," said Mr Ntombela.
He added that ADEP will help the sector in moving a step closer in reaching the goals sets by the strategic framework.
The objective of the ADEP is to stimulate investment in the aquaculture sector with the intention to increase production; sustain and create jobs; encourage geographical spread and broaden participation.
