Catfish Farming Details
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Catfish Farming Project
|Returns on Investment||8.00|
|Duration of Farm||7 months|
|Address||No 2 Agbere Road, Abaji, FCT. Nigeria|
ish farming or pisciculture involves raising fish commercially in tanks or enclosures such as fish ponds, usually for food. It is the principal form of aquaculture, while other methods may fall under mariculture. A facility that releases juvenile fish into the wild for recreational fishing or to supplement a species' natural numbers is generally referred to as a fish hatchery. Worldwide, the most important fish species produced in fish farming are carp, tilapia, salmon, and catfish. Demand is increasing for fish and fish protein, which has resulted in widespread overfishing in wild fisheries. China provides 62% of the world's farmed fish. As of 2016, more than 50% of seafood was produced by aquaculture. We intend to raise funds tomeet current commercial market opportunities.
|Projected Cash Flow Statement Document||View Document|
|Projected Income Statement for the Business Document||View Document|
|Historical Financial Statement Document||View Document|
Business Plan for the proposed Farm Project
Our business will basically be hinged on preparing the site, acquiring two mobile ponds, fertilize the ponds within say 2 weeks, buy 500 fingerlings for each of the ponds, feed them two times a day till maturity at 6 months and then sale off as point-and-kill or as dried fish or both. Having sold off, we stock again and repeat the process of brood and sale. We shall also go into hatching over time.
Market Conditions for the Project
Since there are no religious, cultural or demographic barriers on the consumption of catfish, our customers shall be the open market, restaurants and grocery shops. Over time with reasonable expansion, we shall commence exporting the product when the local market is satisfied or just to earn foreign currency.
Market Opportunities for the Project
Each year, the industry generates a lot of money from fish farming through retail fish sales. These sales also include the receipts generated by restaurants that specialize in the sale of seafood. Among importers and distributors, a lot of money running into billion is recognized annually among market agents. The industry also employs so many people. The growth of the industry is expected to continue as more Nigerians are seeking to add fish and other seafood products to their diets for both the taste and health benefits associated with seafood. One of the most common trends in the fishery industry is that newer technologies are actually increasing the net profit margins of the business while concurrently lessening the ecological impact of fisheries on the environment.
Market Strategies for the Project
The Fishery’s marketing operations will be minimal as once the Company solidifies ongoing relationship with fishery coops and wholesalers, very little marketing will be required to maintain these relationships. At the onset of operation, we intend to aggressively develop relationship with local and regional fishery coops that will assist the Fishery in maintaining stringent pricing (through forward and future contacts) so that the Fishery always has a predictable stream of income. However, in the future, we might seek to brand certain fish items that we produce. In this instance, the Company will hire a marketing/advertising firm to properly position the Company’s image and brand so that it can directly sell packaged fish to major groceries, supermarkets, farmer’s markets, and select retailers. This Fishery intends to maintain an extensive marketing campaign that will ensure maximum visibility for the business in its targeted market. Below is an overview of the marketing strategies and objectives of the Fishery. Our strategy shall be phone call and messaging and personal contacts to inform our readiness to sale at maturity and average prices.
Catfish farming industry is still in its infancy in Nigeria, with the commodity very expensive because it is insufficient to go round. Most of the practitioners do it on a small scale in their backyards and near their houses. With enough financing, the country would begin to witness large scale fish farming running into hundreds of million naira. The cost of imported fish feed is very high now because of the high cost of the dollar. This, in turn, makes the fish unaffordable by the common man. With growth over time and encouraging national agricultural finance policy, we desire venturing into commercial local fish feed production as soon as possible so that we can have a first-time advantage.
Operational Risks for the Project
The daily operation of the business is as simple as manually feeding the fish twice a day, between 6am and 8am and 5pm and 7pm. While doing this we make sure that ¼ volume of water flows out and is replaced every day. But major challenge is theft as this is now common in Nigeria.
No access to market because of distance and bad roads but we have decided to take advantage of the AgroDomain Platform to achieve our aim of selling to clients
Project Exit Strategy
We intend to sell off all our fish farming equipment once we know that we may disappoint our investors.
Ashwa Enterprise Ltd
Ashwa Enterprise Ltd Overview
We are an integrated agro-allied business that use cutting-edge technologies and processes to ensure efficiency in food production. We have been in business for five years long and need funding to enable us expand to rtake advange of existing market opportunities.
|Date of Incorporation||Nov 25, 2020|
|Size of Company||20|
- 1. Hime SAWEQ - COO
- 2. Henry Phillip - CEO
An accomplished and well regarded C-Level executive and leader with over 30 years of extensive experience in Information Technology gained from multinational corporations and the Nigerian public sector. Hime Sawq was recently appointed the CFO of the Company in 2018. Prior to his appointment he was Executive Director of Knowledge Finance Limited a financial services and consulting firm he founded in 2016. He served for 8 years as the pioneer Chief Executive Officer and Managing Director of Galaxy Backbone Ltd, the ICT company of the Nigerian government. Mr. Sawaq was also the Country General Manager of Synthesis with responsibility for West Africa and his career path includes Motorola Solutions, SAP Southern Africa and IBM Central Africa. He maintains first-rate relationships with key ICT influencers in Nigeria and beyond. He has served on several high-level Federal Government committees on ICT policy and governance including; Technical Committee for the Establishment of the National Identity Management Commission, Petroleum Revenue Special Task Force, and Integrated Personnel and Payroll Information System (IPPIS) Review Committee. He also serves on the on the board of trustees of ICT development foundations in Nigeria.
He is a seasoned professional with over 30 years cumulative working experience spanning Architecture, Construction, Banking, Government and Information Technology. He started his career in public service where he was an Architect in the Kano State Ministry of Works and Housing before moving into the banking sector where he remained for 10 years. He was also in architectural practice for a short period when he established and ran his own firm. Thereafter with the return of democracy in 1999, he moved to Jigawa State Government where he served as the Permanent Secretary in the Ministry of Commerce and then Ministry Urban & Regional Planning and then served as the Director General in charge of International and Intergovernmental Affairs in the Executive Governor’s Office.