US$10M boost to expand tilapia production in Ghana

Editor/Mohamed Shihab

GHANA – Tropo Farms, the largest producer of tilapia in West Africa, has secured a US$10 million investment from AgDevCo, a specialist investor in African agriculture, to scale its operations in Ghana. 

This funding is set to strengthen Ghana’s aquaculture industry, catering to the country’s high fish consumption rates and reducing dependence on imported fish.Tropo Farms employs over 900 people and distributes locally through a network of around 3,000 traders, predominantly women, who bring high-quality tilapia to the local markets. 

Ghana’s annual fish consumption exceeds 800,000 tonnes, so the investment aims to bridge the demand-supply gap in a market where aquaculture is a sustainable alternative to wild-caught fish. 

This initiative promises a consistent fish supply and improves food security and nutrition for Ghana’s growing population.The funds from AgDevCo will be directed towards the construction of a modern processing facility and advanced production equipment, which will enable Tropo Farms to boost its annual production capacity to 30,000 tonnes over the next five years. 

This expansion aligns with the company’s commitment to high standards in aquaculture, which it has upheld since its founding by Mark Amechi in 1997. Over the years, Tropo Farms has developed techniques suited to local conditions, cementing its role as a pioneer in the African aquaculture industry.

Kweku Koranteng, AgDevCo’s Investment Director for West Africa, emphasised the strategic importance of this investment: 

“Investing in Tropo Farms supports the production of an essential protein source in Ghana, fosters import substitution, and promotes economic growth. Our investment will enhance operational efficiency and encourage sustainable aquaculture practices.”

Francisco Murillo, CEO of Tropo Farms, highlighted the broader benefits of this partnership: “This loan marks a significant milestone for Tropo Farms, enabling us to expand our logistics and distribution network, which will benefit the communities we serve. Partnering with AgDevCo provides us with the capital and agribusiness expertise to support our growth.”

The collaboration between Tropo Farms and AgDevCo signals the potential for further aquaculture initiatives in West Africa, which could foster a more resilient aquaculture sector across the region. 

Tropo Farms plans to expand its reach in collaboration with AgDevCo and other investors, with an eye on transforming the West African aquaculture landscape