Business News of 2014-08-20

Ghc250 million spent on fish importation yearly

Ghana spends more than Ghc250 million each year on the importation of fish and fish products into the country to augment fish supply in the country.
Despite the country’s large coastline which runs from Greater Accra, through Volta to Central and Western Regions fishermen are unable to provide the adequate amount of fish for consumption.
Speaking to Joy News, fishermen along the coastline of the James Town beach blame their inability to meet the fish needs of the country on the constant shortage of premix fuel and light fishing activities.
This they say is making it impossible for them to cash in on the sector.
A gallon of premix fuel costs Ghc7 and fishermen will require for a fishing trip, about 30 gallons of the fuel.
Even though some manage to go to sea using fuel they prepare on their own, the preparation which is made from engine oil bought from filling stations costs twice as much thereby reducing their profits.
The fishermen also complained about the activity of Chinese fishermen who have refused to stop their fishing activities due to claims that they pay taxes and therefore should be allowed to fish.
The practice of borrowing money from people to support their business has become increasingly difficult because money lenders fear they will be unable to pay back the loans when granted.
This they say, is making it difficult for them to cater for the health and educational needs of their families.
They are appealing to government to ensure the constant supply of premix fuel and cut down on illegal light fishing vessels to help them stay in business.
Source: myjoyonline.com
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