The African Aquaculture Company (AAC) is spearheading a Norwegian initiative to establish salmon farming in the Benguela Current, leveraging optimal cold-water conditions (10-16°C) and Norwegian aquaculture technology. With a production license for 51,000 tonnes across three sites near Lüderitz, Namibia, AAC aims to ignite a major food industry in Southern Africa. The project includes smolt production in Fizantakraal, South Africa, with a capacity of 1.5 million smolt, and plans for scaling operations to full production by 2034.
Key investment highlights include low start-up costs, high profitability, and positive EBITDA projected within three years. The initiative addresses global demand for Atlantic salmon, growing at 6% annually, while reducing transport costs by replacing air freight from Europe. AAC is committed to environmental, social, and governance (ESG) principles, focusing on fish welfare, local job creation, environmental monitoring, and sustainable feed production.
The project is expected to generate significant export revenue (EUR 400-450 million annually) and create substantial employment opportunities, supported by training programs and collaboration with universities. AAC invites Namibian and international investors to participate as co-owners, with Series B funding open until Q4 2025.
The initiative builds on proven biological feasibility, with salmon previously farmed in the Benguela Current. Risks such as wave conditions, feed registration, and operational planning are being addressed. AAC’s legal structure includes subsidiaries in Namibia and South Africa, ensuring streamlined operations and distribution. This ambitious project aims to transform Southern Africa’s aquaculture landscape while contributing to global food security.