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Gulf Aquatics
Living Jewels, the fishes of the African Rainforest, helping rural communities improve their lives while conserving biodiversity
Gulf Aquatics is a small-business that works with rainforest communities to safely capture and transport ornamental fishes into the international trade, worth an estimated $500 million per year. In partnership with communities and the international scientific community, we are working to ensure the sustainability of our business and a fair return to the fishers.
Facts
2004
| Two years ago: | 4,000 |
| Last year: | 4,000 |
| This year (forecast): | 6,000 |
| Year 2 (forecast): | 34,000 |
| Year 3 (forecast): | 78,000 |
| Two years ago: | -6000 |
| Last year: | -3000 |
| This year (forecast): | 3,000 |
| Year 2 (forecast): | 34,000 |
| Year 3 (forecast): | 70,000 |
| Two years ago: | 0 |
| Last year: | 1 |
| This year (forecast): | 3 |
| Year 2 (forecast): | 4 |
| Year 3 (forecast): | 5 |
Finance needed
| Finance needed for fixed assets (buying of machines, buildings, ...) | 14,200 |
| Finance needed for working capital (salaries, stock, rental, leasing, transport, ...) | 45,600 |
| Total finance needed (US$) | 59,800 |
How do you expect this to be financed?
| Own Contribution in cash | 5,000 |
| Loans (debt) | 25,000 |
| Shares in your company that you offer to investors (equity) | 1,000 |
| Other sources | 28,800 |
| Total finance needed (US$) | 59,800 |
The Business
Natural and sustainably harvested tropical rainforest fishes.
Fish exported from Cameroon live under natural conditions and exhibit their true colouration and behaviour. We use no chemicals, offering the widest variety of natural and naturally healthy rainforest fishes.
Fish marketed by Gulf Aquatics are predominately captured from the wild. Local fishers collect the fish and hold them in natural ponds and small cages constructed so that the forest habitat is not disturbed. Such stations are maintained in each river so as to avoid mixing populations. Natural feeds and a healthy environment ensure high survival from Cameroon to markets in the US and Europe.
Over the last four years, we have been building our market by providing high quality products and letting our clients help us find new buyers trough internet. Because of the close working relationship that the ornamental fish industry maintains with the fish research community, our close contacts with the WorldFish Centre (an internationally recognized research institute) we have been able to develop a new relationship of trust with our buyers.
The majority of the market is in fish for home aquaria, which we access through local retailers. Other markets to which we have exported fish include museums, scientific research institutes and wholesalers . The US,Canada, Belgium, Germany,France and Netherland account for 42% of the global market and have been our major buyers to date, although there is also high demand in Asian markets.
Singapore (25%) is the biggest exporter, but their fish are inbred and often have been treated with antibiotics.A recent competitor was from Belgium is now established in RDC and deal with tropical fish from Congo, Malawi,Tanzania and Burundi.Our main competitors for the West and Central African wild fish market are from Nigeria. Nigerian producers put lower quality fish on the market, and many of their fisheries are already over-exploited.
Our fish are sustainably harvested and safely held in natural conditions,shipped to customers within 10 to 12 days after recieving orders while competitors store fish for long and deliver poor and thiny fish.
Our competitors went out of business because they cheated the fishers and delivered dead fish to their clients. Gulf Aquatics was founded on the principle of fair trade and guarantees that the fish we ship are healthy, have been sustainablity harvested and that the fishing communities receive their share of the profits.
Gulf Aquatics works closely with the local regulatory bodies, conservation agencies and scientiests to make sure our harvest rates are sustainable. Plans for growth include the exploration of new areas, providing new opportunities for both aquarium lovers to have new species of fish, and also helping more rural communities in Cameroon to improve their livelihoods.
The Entrepreneur & Management
The owner/operator of Gulf Aquatics is Mr. Cyrille Dening Touokong, who was a major middleman, purchasing fish from fishing communities in the rainforest and selling them on. Chagrined by the poor practices of the exporters, in 2004,Mr. Dening founded Gulf Aquatics and undertook to develop a new ornamental fish industry based on fair prices and best handling practices to guarantee a high quality product to the market.
Not only is Mr. Cyrille Dening Touokong the leading exporter of fish from Cameroon, but is also a world authority on fish biodiversity, having participated as guide in a number of scientific expeditions and as technical advisor to the IUCN Red List Inventory of the Fishes of Central Africa. Mr. Dening's track-record with local communities have given him access to many species that more aggressive exporters have been denied.
As much time as it takes.
Development
The Gulf Aquatics business plan will return appx. $30,000 per year to 10 rural communities, directly improving revenues and lives for an estimated 300 people.The money is paid directly to each fisher on delivery of fish ordered.This is to allow fishermen to have enough resources to improve their life conditions and construct aditional fish ponds in the village and do not have to collect fish in the main river as they are raised in fish ponds.
Gulf Aquatic
Good Business plan and the venture has the potential to extend with available opportunities and of course a good management team.
The environmental and socio-economic impact on the locals is positive and well spelt out; Fish rearing with natural feeds, employment, improve living standards, increase community participation and communities are open to further development.