São Tomé and Príncipe
Early in the morning, Paula Afè Do Espiritu Afonso goes to the beach in her village of Abade on Príncipe Island to get freshly caught fish. Having spent the whole night fishing, the fishermen return with bonito, barracuda, pargo, vermelho, and corvina.
Paola sells some of the fresh catch locally, but the bulk is processed and sold at the fish market in the capital, on São Tomé Island.
Fish is the main source of protein for the people of São Tomé and Príncipe, an island nation in the Gulf of Guinea, over 200 km off the coast of Gabon. The fisheries sector provides jobs for thousands and is the most important source of revenue for low-income families after cocoa.
The Food and Agriculture Organization of the United Nations (FAO) works with twelve fisheries and aquaculture value chains across African, Caribbean, and Pacific countries to maximize economic returns and social benefits while minimizing the negative impacts on natural habitats and marine wildlife.
The programme, called FISH4ACP, pays special attention to small and medium-sized businesses because of their potential to deliver economic and social benefits, particularly for women and youth.
Together with other women from Abade, Paula is part of a group of fishmongers who pool their money to cover expenses and save. Every week, Paula, who is the group’s treasurer, deposits money in the bank.
In the capital, São Tomé, Francisco Piedade, CEO of BISTP (Banco Internacional de São Tomé e Príncipe), says his bank recognizes the potential of fishmonger groups to grow and is ready to support them financially.
Fisheries in São Tomé and Príncipe are exclusively artisanal and largely focused on small pelagic species. The sector holds great potential for growth in production, processing, and marketing but is hampered by the country’s relative isolation, a major obstacle in accessing export markets.
00:59
Ghana forecasts 16% fall in cocoa production following bad weather and disease
00:51
IMF completes reviews in Egypt unlocking $1.8 billion
11:18
Zambia: Economic test looms for next administration [Business Africa]
00:43
Iran war paralyses neighbouring Iraq's crucial Umm Qasr port
01:34
Climate experts say super El Niño will negatively impact African economies
01:03
UN chief urges global support for Syria as it recovers from civil war