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US$ 20 million for Mauritian Eel Project

by 5m Editor
3 November 2008, at 12:00am

MAURITIUS - The Development Bank of South Africa (DBSA) Thursday signed a loan agreement, worth US$ 20 million, with Ripple Fish International towards the establishment of 'eel' farms and wild 'eel' fisheries in the coastal areas of Mauritius, Madagascar and South Africa.

According to Afrique en Ligne, the agreement was signed in the Mauritian capital by Leon Cornelius, Country Man ager of the DBSA, and Jeremy Lewis, Chief Executive Officer of Ripple Fish International, a global fishing supply entity.

DBSA Senior Investment Officer Elmarie Oosthuizen said the agreement was not only the first for the DBSA in terms of investing in a regional aquaculture project, reports Afrique en Ligne.

It also represents the first-ever initiative to farm Long Fin eel, also called Mossambica, and the African Mottledeel in the Southern and Eastern African regions," she said.

5m Editor