Shem Oirere is a Kenyan journalist who previously worked for daily newspapers as a general news correspondent, business reporter and sub-editor before turning to full-time freelancing. For the more than 20 years, he has covered various sectors of Africa’s economy including agriculture, food processing, and maritime industries. A graduate of the University of South Africa, he has traveled within and outside Africa covering various industry events that have a bearing on the continent’s economy on behalf of different international consumer and trade publications. He currently lives in Nairobi, Kenya.
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Dammam, Saudi Arabia-based Saudi Fisheries Co. (SFC) has announced that despite a significant increase in sales revenue, the company posted net losses for H1 2022.
SFC’s interim financial results filing to the Saudi Stock Exchange on 22 August, 2022 indicates the company posted sales of SAR 29.3 million (USD 7.81 million, EUR 7.84 million) up 34 percent from the SAR 21.8 million (USD 5.81 million EUR 5.83 million) for a similar
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Oman Aquaculture Company, a part of Muscat, Oman-based Muscat Overseas Group and South Africa-based abalone farming company Abagold Ltd., has commenced operations of an OMR 10 million (USD 25.9 million, EUR 25.5 million) abalone project in Oman …
Photo courtesy of Yousif
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Riyadh, Saudi Arabia-based Saudi Fisheries Company (SFC) has signed an agreement to obtain financing from two institutions totaling SAR 76 million (USD 20.2 million, EUR 19.9 million) to finance its operations.
The company, which engages in fishing, fish-farming, and marketing activities, announced a deal with Al Rajhi Bank for a loan of SAR 40 million (USD 10.7 million, EUR 10.5 million) to finance the seafood company’s operations.
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Kenya’s Department of Fisheries, Aquaculture and Blue Economy recently picked local seafood processor and exporter CEER Processing Limited as the preferred contractor to develop the delayed Liwatoni Fisheries Complex in the coastal city of Mombasa.
The project has been marred by graft allegations from Kenya’s Ethics and Anti-Corruption Commission (EACC), which launched investigations into claims of procurement law violations
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After years of investigations by non-governmental organization Environmental Justice Foundation (EJF), the government of Oman has removed the ISRAR fleet from its registry of fishing vessels due to its alleged involvement in illegal, unreported, and unregulated (IUU) fishing.
The delisting was supported by EJF’s documentation of the fleet’s illegal fishing activities with Omani state officials, which found "the documentation
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Credit Suisse Securities Europe, a subsidiary of Zürich, Switzerland-based global investment bank and financial services firm Credit Suisse Group AG, has agreed to pay USD 22.6 million (EUR 22.1 million) in restitution to 18 investors who were defrauded in what anti-corruption experts called “the most-egregious corruption offense of the decade” …
Photo courtesy of Sonia
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Cape Town, South Africa-based Oceana Group has selected Mazars to serve as the company’s new external auditor, and also announced mixed results in terms of production volumes …
Photo courtesy of Oceana
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The United Arab Emirates (UAE) has announced it plans to award subsidies to its fishing sector, just weeks after the World Trade Organization finalized a deal to end fuel subsidies to help reduce overfishing.
The UAE Ministry of Climate Change and the Environment has partnered with the Abu Dhabi National Oil Company and the Emirates National Oil Company to launch the subsidy scheme to help the country’s fishermen deal with
… Read More The Saudi Fisheries Company (SFC) has fired its CEO after suffering significant losses ...
Photo courtesy of the Saudi Fisheries
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The Coalition for Fair Fisheries Arrangement (CFFA) said it has doubts regarding the credibility of a recent report showcasing the progress made by the small pelagics fishery improvement program (FIP) in Mauritania.
The CFFA describes itself as a platform of NGOs based in Brussels, Belgium, that "documents the development and environmental impacts of European Union, African, Caribbean, and Pacific states' fisheries relations on
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