Fisheries & Pontus Marine

A coastline that stretches 850 km with an annual potential sustainable catch of 40,000 MT/year of mixed species including serranidae, carangidae, lutjanidae, haemullidae, lethrinidae, mullidae, scombridae, along the Red Sea on the Gulf of Eden, where Guul Group has established good contacts, seeking to create alliances in these markets with its diversified portfolio. The company’s strategy in the fisheries market will be to work with local partners who have a better market insight, as an initial move towards increasing its market penetration. 40,000 MT/year exceeds demand for local consumption and presents great opportunities for export to the 84 million Ethiopian markets next door and the lucrative oil rich Middle Eastern market just across the Red Sea. The sector has huge potential for development. Scarcity of ice and lack of freezing & cold storage facilities limit the opportunities for fishing along the entire coast. Lack of experience in the maintenance of boat engines and appropriate workshops with qualified technicians bring many challenges and thus opportunities for Guul Group, partners and investors. Priorities and strategies for Guul Fisheries Group are to provide solutions to these challenges and obstacles in the region with the aim of providing procurement, cold chain facilities whilst trying to explore the possibilities of establishing (with local and foreign investors) fish processing and canning factories, fish farming and aquaculture.

Guul Group to faciltate $ investment into Somaliland fisheries

Pontus Marine Limited is Somaliland’s first global fishing company focusing on supplying quality fishery to both domestic and overseas markets. The company is based in Maydh and Berbera, Somaliland, which is one of the most productive phytoplankton and zooplankton areas in the world, sustaining rich feeding and nursery grounds for more than 600 fish species, including high value species like tuna, lobster, cuttlefish, shrimps, shark and many more. “In response to an ever-growing global demand for fish, Pontus Marine Limited is committed to continually securing access to under-utilised and abundant ocean resources, and fulfilling the needs of the health and value-conscious consumer through sustainable fishing practices.” CEO of Pontus Marine