African tilapia giant Lake Harvest merges with Mozambique firm

Editor/Mohamed Shihab

 Aquaculture has entered into a merger with Mozambique's Chicoa Fish Farm following years of financial turbulence.LAKE Harvest Aquaculture, a major player in tilapia fish farming based at Lake Kariba, has entered into a merger with Mozambique-based Chicoa Fish Farm, following years of financial turbulence.

The partnership, finalised about two weeks ago, aims to stabilise Lake Harvest’s operations and defend its market position in the region.

According to a term sheet obtained by the businessdigest, the merger comes at a crucial time for Lake Harvest, which has been grappling with mounting debts and declining production volumes over the past decade.

While the financial details of the July 26 transaction remain undisclosed, it is understood that the deal is currently undergoing regulatory approvals before a formal announcement is made.As part of the merger, Lake Harvest will combine its assets — including its Tilapia farm located on the eastern end of Lake Kariba — with Chicoa’s operations.