Investing in Ghana's Fishing Industry

SECTOR OVERVIEW

The fishery sector in Ghana principally encompasses marine fishery, inland (fresh water) fishery and aquaculture fishery as well as related activities in fish storage, preservation, marketing and distribution. Fisheries constitute an important sector in national economic development. The sector is estimated to contribute 3 % of the total GDP and 5 % of the GDP in agriculture. About 10 % of the country's population is engaged in various aspects of the fishing industry.

Marine fisheries account for over 80 % of the fish consumed in Ghana. However, recently fresh water fisheries including aquaculture is increasingly contributing considerable share of the supply and consumption trends. The structure of the marine fishing industry in Ghana is described by the activities of four identifiable groups within the industry, namely the Artisanal, Semi-Industrial (inshore sector), Industrial (deep sea) and Tuna fleets.

Aquaculture has only recently been adopted as an assured way of meeting the deficit in Ghana's fish requirements. The aquaculture sub-sector comprises largely small-scale subsistence farmers who practice extensive aquaculture in earthen ponds in contrast to the intensive practices of commercial farmers.

There are several laws to regulate and govern the fisheries sector and the government has set up institutions that are responsible for developing fisheries including aquaculture policy and directing and establishing research priorities. The Department of Fisheries is the lead government agency for fisheries development.