© Aqua-Spark
Africa’s aquaculture industry is growing consistently year-over-year, yet the demand for healthy and affordable fish still far outstrips supply in almost every region of the continent.
Aqua-Spark's* new fund, which has landed a keystone investment from the German federal Ministry for Economic Cooperation and Development (BMZ) through KfW bank, is dedicated to accelerating the development of a sustainable aquaculture industry on the African continent. In addition, a technical assistance grant of €1 million (£861,460 thousand) will be provided.
Aims for Aqua-Spark Africa
By deploying capital to African entrepreneurs using an impact-led investment strategy, Aqua-Spark aims to:
- Stimulate local economies and create jobs
- Increase availability of healthy and affordable proteins, thereby contributing to food security
- Keep sustainability at the heart of a growing, integrated aquaculture supply chains and foster the implementation of sustainable practices
“For BMZ, an environmentally, ecologically, and socially sustainable fisheries and aquaculture sector is essential for transformation of our food systems. This is why BMZ supports the Aqua-Spark Africa Fund with up to €16 million, aiming to empower African aquaculture companies for enhanced productivity and ecological sustainability,” said Martin Hoppe, head of the division 'food security, fisheries' of the German Federal Ministry for Economic Cooperation and Development (BMZ) in a press release.
Aqua-Spark CEO, Lissy Smit, added: “Having KfW as our anchor investor in Africa ensures we can catalyse more value-aligned investment into Africa’s growing aquaculture industry."
Alexandra Albin, head of nature positive finance at KfW also stated: "We are pleased to start a cooperation as anchor investor with Aqua-Spark, an experienced Fund Manager in the sustainable aquaculture sphere and to enable them to launch their new dedicated Africa Fund.”
*Hatch is part of Aqua-Spark's investment portfolio, but The Fish Site retains editorial independence.
