Economy

Alta Mar invests $21 million in aquaculture development in Safi

Monday 03 March 2025 - 14:40

By: Dakir Madiha

Alta Mar invests $21 million in aquaculture development in Safi

Norwegian group Alta Mar African Holdings has unveiled a significant aquaculture project in Safi, Morocco, committing $21 million (over 200 million dirhams) to marine fish farming. This initiative, centered on the production of high-value fish species such as Atlantic bluefin tuna, is expected to become operational by the fourth quarter of 2025.

Under the leadership of Jan-Helge Dahl, the project will be financed through a mix of 70% debt and 30% equity. Managed by Zayed Bennani, the operation will rely on an integrated infrastructure that includes a 2.3-hectare hatchery for juvenile fish production, 75 hectares of offshore farming cages, and an 8-hectare processing facility adhering to international standards.

Despite Morocco’s substantial potential, aquaculture remains a marginal sector. In 2022, national aquaculture production totaled only 2,310 tons—less than 0.1% of the country’s total fisheries output, which exceeded 1.5 million tons. The most commonly farmed species include sea bass, sea bream, and trout, with freshwater fish farming primarily relying on extensive systems. However, with overfishing and climate change threatening marine resources, aquaculture is increasingly seen as a strategic solution to sustainable fisheries management. The National Agency for Aquaculture Development (ANDA) aims to establish 232 new farms by the end of 2025, targeting a production capacity of 115,900 tons.

As Africa’s second-largest fish supplier after Egypt, Morocco is seeking to diversify its supply sources to meet rising demand. In 2023, the volume of fish landed from coastal and artisanal fishing exceeded 210,000 tons, marking a 9% increase compared to the previous year.

Alta Mar’s investment in Safi aligns with Morocco’s long-term vision of modernizing its aquaculture sector while positioning itself for international markets. The Norwegian group also plans to expand its operations to other African countries, including Tanzania, Angola, and Guinea-Bissau, reflecting its ambition to become a key player in aquaculture across the continent.