The South African Fisheries Development Fund (the Fund) is a registered non-profit company with members and status as a public benefit organization (PBO) in terms of the Companies Act 71 of 2008.
It was established by Brimstone Investment Corporation (Brimstone) and the Sea Harvest Group (Sea Harvest) to empower local fishing communities that often experience challenges with regards to accidental death or disability cover, costs of fishing, skills development and alternative economic opportunity, as well as a lack of youth and female inclusion within the small-scale sector. The vision with the Fund is to promote access of small, medium and micro enterprises (SMMEs), as well as other persons or businesses working and operating actively in the fishing and allied industries and sectors, into the fishing industry and accelerate their development by providing business support.
The Fund was started with an investment of R100 million and will initially focus on the provision of two key services before rolling out additional interventions.
The South African Fisheries Development Fund will not be successful without the support of the following partners: