Private Sector Led Aquaculture Enhancement Project - NaFAA

Company Description

The National Fisheries & Aquaculture Authority (NaFAA) was created by an Act of National Legislation on October 9, 2017. It functions as a fully-fledged autonomous body pursuant to the Public Authorities Law of the Republic of Liberia. NaFAA has its roots in the erstwhile Bureau of National Fisheries, which operated as a unit within the department of Technical services of the Ministry of Agriculture from 1956 to 2017.The overall fisheries sector goal is: Sustainably managed fisheries, an economically viable sector, and generating prosperity for current and future generations. The overall fisheries sector goal is: Sustainably managed fisheries, an economically viable sector, and generating prosperity for current and future generations.

Countries of Operation

Liberia

Ownership of Company: Local Company

Number of years since incorporated

8

Project Pitch

Private Sector Led Aquaculture Enhancement Project: Liberia is ready to unlock the full potential of its aquaculture sector through a private sector–led, investment-ready transformation initiative that directly aligns with the European Union’s priorities on food security, inclusive growth, climate resilience, and sustainable private sector development. The Private Sector–Led Aquaculture Enhancement Project seeks EU partnership for a $35 million intervention designed to scale aquaculture from subsistence production to a modern, commercially competitive industry. The project will establish regional hatcheries, integrated processing hubs, cold chain systems, and digital extension services that will stimulate large-scale private investment while generating at least 500 new jobs, particularly for youth and women. By expanding national production from 2,000 to 20,000 metric tons by 2029, Liberia will reduce its reliance on fish imports, strengthen food sovereignty, and open new economic opportunities. A key innovation is the introduction of a value-addition model that will process fish into fish powder, fish oil, and fish chips—high-nutrition products suitable for Liberia’s school feeding programs through strategic partnerships with the World Food Programme (WFP). These products will also enhance income streams for farmers and processors, creating a more resilient and market-responsive value chain. Moreover, the project positions Liberia to tap into the rapidly growing regional market—particularly Côte d’Ivoire, where nearly 90% of tilapia is imported from China. With strengthened production capacity and competitive value-added products, Liberia can become a regional supplier, capturing a share of this high-demand market while driving export-led growth. By partnering with the EU, Liberia will establish a sustainable, private sector–driven aquaculture industry that advances the Blue Economy, accelerates rural transformation, enhances nutrition, and delivers measurable economic and social impact across the country.

Team

Information not provided

Type of Project

Governmental/Institutional project

Stage

Concept stage

Annual Revenue (in EUR)

1.000.000 - 5.000.000 EUR

Number of employees

101-500

Total Project Cost (in EUR)

35.000.000

Financing needs (in EUR)

35.000.000

Type of financing needed

Grant

The Company is looking for:

Financing

Planned allocation of fundraising capital

PPP (Public-Private Partnership)