The African Aquaculture Company (AAC) has completed financing for the first phase of its salmon farming project off the coast of Lüderitz, Namibia. The funding round, which secured €2 million in equity with further options for up to €6 million, marks a significant step toward establishing large-scale aquaculture production in the country.
Translated from the norwegian article:
The Oslo-based brokerage firm ABG Sundal Collier is engaged to raise capital. Investors who have expressed interest include Chinese, Namibian and Norwegian investors, as well as fishing companies.
The idea for the project comes from the Norwegian lawyer Torben Foss. At the turn of the millennium, he began taking on assignments in southern Africa while working in the legal department of the multinational consulting firm PWC.
Translated from the norwegian article:
Norwegian venture aims high.
iLaks has previously reported on the Norwegian aquaculture venture a few nautical miles off the coastal town of Lüderitz, on the southwest coast of Namibia. The African Aquaculture Company (AAC) has now secured financing for the first phase of its groundbreaking aquaculture project.
