• Fishy business

    Fishy business

    An aquaculture company has announced plans to build a fish farm in Lesotho.

    In a US$250 million deal between Pure Salmon, its parent company – private equity fund manager 8F Asset Management – and the Lesotho National Development Corporation (LNDC), the farm will be built in the Butha-Buthe highlands, as reported by Salmon Business. It will be sited next to the Katse dam and have an annual output of 20 000 tons.

    According to Stephane Farouze, chairman and founder of 8F, construction will start in early 2020 and the facility will be completely hydro-powered.

    ‘The new site will be fully integrated with on-site hatcheries, grow-out systems, and processing and smoking facilities,’ he says. The project is expected to create 250 permanent jobs.

    8F is also setting up the 8F & Pure Salmon Foundation, which will sponsor an aquaculture education programme at the National University of Lesotho, with 15 international internships available at Pure Salmon’s facilities across the world. One million free salmon meals per year will also be provided to local schools and orphanages during the first 10 years of the facility’s operation.

    23 July 2019
    Image: Gallo/Getty Images