While oil and gas currently dominate the economy, Equatorial Guinea possesses untapped potential in the fishing sector. The country has over 200km of coastline along the Gulf of Guinea, with warm waters home to a variety of fish species. However, industrial production has declined in recent years. By addressing challenges and leveraging opportunities, RFC can help revitalize this underdeveloped industry.
As the data shows, Equatorial Guinea’s fisheries have an estimated annual production potential of around 75,000 tons according to marine surveys—yet actual catches have fallen below even 200 tons. This indicates vast room for sustainable growth. By providing training and improving infrastructure like cold storage, RFC can boost productivity and quality standards to meet this potential. Developing fishing cooperatives and promoting community involvement will also be important.
Equatorial Guinea aims to use fishing to fuel domestic food security and exports. RFC’s expertise in value chain analysis and market linkages can support this by identifying prime species and partners. There may be opportunities in aquaculture of high-value shrimp and seaweed. Investing in processing facilities would add value before export. Regional free trade agreements also open new markets.
The fishing industry in Equatorial Guinea comprises both industrial operations, mainly conducted by licensed foreign trawlers, and artisanal activities involving canoes using handlines and small seines. The country has seen growth in both sectors, contributing to the overall fish production. Equatorial Guinea has received support from the African Development Bank for the Project for the Development of Value Chains in the Fisheries and Aquaculture Sector (PASPA). This initiative aims to increase annual fisheries and aquaculture production by nearly 320%, indicating a significant commitment to enhancing the fishing industry.
With proper management, this renewable resource can generate long-term economic and nutritional benefits. RFC is well-positioned to provide guidance on certification standards and technology like vessel monitoring. An eco-friendly approach balancing production, livelihoods and conservation will be key to sustainability. Overall, revitalizing Equatorial Guinea’s under-realized fishing industry presents a major opportunity.
