Browsing: fishing

sustainable fishing in Tanzania

Sustainable fisheries in Tanzania: Protecting marine life and coastal livelihoods

Industry and Trade
  • Tanzania fishing industry earns 10% of national foreign exchange. 
  • FAO conducting sustainable fishing initiative in Tanzania.
  • More than 4 million people earn their livelihoods from the fisheries sector.

With a stretch of coastline in excess of 1,400km and inland freshwater covering an estimated 54,300 square km, fishing is one of Tanzania’s major agricultural practices.

According to the Tanzania National Statistics Bureau, the fisheries sector contributes an average of 1.4 per cent to the GDP and earns about 10 per cent of the national foreign exchange.

To add on, more than four million people earn their livelihoods from the fisheries sector according to the country’s latest fisheries statistics.

Across the continet, Tanzania is one of the largest fishing nations according to the Food and Agriculture Organization (FAO) and the country is ranked in the top 10 countries having one of the largest total capture fisheries production.

FAO reports that the annual …

Equatorial Guinea: best investment sectors in the Central African nation

Investing

Trading economics’ global macro models and experts’ forecasts indicate Equatorial Guinea’s GDP could reach $12.6 billion by the end of 2022. As such, the long-term trend for the GDP of Equatorial Guinea is anticipated to be about $13 billion by 2023.

Historically, the economy of Equatorial Guinea relied on three commodities: cocoa, coffee, and lumber. However, the discovery and exploitation of petroleum and natural gas in the 1980s radically altered the country’s economic character. As a result, more than four-fifths of Equatorial Guinea’s GDP currently derives from petroleum exports. Nevertheless, the majority of people’s level of living has not changed considerably, and farming remains the predominant source of income.

Nevertheless, the Equatoguinean domestic economy is small, with an estimated population of 1.2 million, despite the country’s membership in the Central African Monetary and Economic Union (CEMAC) sub-region, which comprises more than 50 million people. Notably, the region has a central…

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