Ceeldaraad fishing company

“Leading Suppliers of Quality Seafood.”www.ceeldaraadfishing.com

Fishing is a highly profitable venture throughout the world; Global markets are estimated to be worth $220 billion annually. United Nations reports continually highlight that the significant fish stocks in Somaliland waters. These waters are considered to be some of the richest fishing grounds in the Horn of Africa and Western Indian Ocean. The UN reports together with the many foreign fishing vessels now harvesting Somaliland waters, are clear indicators of significant untapped potential. There exists a major opportunity for Somaliland fisheries to benefit from this lucrative natural resource.

‘Fish stocks off the coast of Somaliland present an immense opportunity for motivated investors. Somaliland fishermen are currently capturing only 1% of the estimated sustainable catch in their waters. Demand for fish is rising in Somaliland, and neighbouring countries are eager to import more fish.

There are clear financial incentives to bolster efforts to increase the annual catch.

The Fishing Industry in Somaliland

BERBERA

SOMALILAND

ETHIOPIA

HARGEISA

DJIBOUTI

YEMEN

Key Facts• Global market worth $220 billion pa according to Food & Agriculture Organisation (“FAO”).• Somaliland waters have over 450 commercial fish species. • World Wide fishing industry employs an estimated 240 million people.

This requires determined investors that seek to not just profit from their investment, but also desire to positively impact the lives of those living in Somaliland. Investments into the fishing industry will introduce numerous jobs opportunities for a wide array of skill sets. This will improve the prospects for many of the unemployed who are seeking stable work.

Profit are already being made despite the current state of the industry and investment that will improve infrastructure and processes increase profits while also assisting in the development of Somaliland as a whole.’ Shuraako, Industry Analysis: Fishing in Somaliland 2012.

“Ceeldaraad is an establish and viable fishing company in Somaliland, providing world class full cycle (catch-processing-storage-distribution-retail) operations from the port city of Berbera. The company is already supplying the local market and creating jobs. Local businesses are benefiting and as the company provides practical economic stimulus in the world’s youngest democracy.”

Ceeldaraad Fishing Company intends to seize the opportunity to be “first movers” in an untapped market that will also help to contribute to regional food security and supporting positive economic trends in Somaliland and the region as a whole.

The company’s presence is also helping to safeguard international laws governing the exploitation of the fishing grounds. The scale of illegal unreported & unregulated fishing (IUU) which takes place off the Somaliland coastline is estimated to be worth over$300 Million annually.

This unique enterprise meets and in many ways exceeds the stated aims of the Somaliland Government five year development plan. The primary beneficiaries of our investments and subsequent growth, will be post-conflict rural & coastal communities who currently benefit little from having the substantial marine resources on their doorstep.

Ceeldaraad is now ready to move to the next phase of its development plan which will see significant organic growth and international expansion.

Executive Summary

Company ProfileOctober 2013

Established early 2011 by members of the Somali diaspora community in Europe. Their aim was to create a profitable fishing business that would be capable of catching, processing, storing, distributing, local retail and exporting fish - a full cycle operation.

The early investors realised the importance of the full cycle model as it met the aims of providing opportunities for significant growth, social welfare and local economic stimulus in Somaliland and the Horn of Africa.

Operating from a compound in the Red Sea port of Berbera and managed from its Head Quarters in Hargaisa, Ceeldaraad’s has invested in modern fishing vessels and processing equipment including an ice maker, generator, cold storage, refrigerated vehicles, retail units and more.

The operation is a unique and innovative development for the region.

Export – Our “Full Cycle” capability means we are equipped and ready to export to neighbouring countries and beyond.

Storage – With our own cold storage facility and retail outlets, we are able to ensure product quality is not compromised. This maintains the nutritional value of our products and its value.

Process – Our established processing facility enables us to receive, sort, clean, handle, and fillet to a standard that meets the required quality benchmark.

Distribute – Quality & freshness is important! Our refrigerated vehicles transport our products, preserving the quality and nutritional value of each fresh catch.

Retail Outlets –We have set-up ourown retail outlets in the main cities of Somaliland. Allowing us to control retail prices and costs.

“Retaining the nutritional properties and quality of fish is dependent on proper handling of the catch after it has been caught and landed.”

Ceeldaraad Fishing Company’s Full Cycle Process

Catch – Our specialist fishing trawler is fully-fitted with the latest equipment needed for modern fishing techniques with a skilled and experienced crew.

KeyCatch -

Process -Storage -

Distribute -Retail Outlets -

Export -

Catch Processing

Storage

Distribution

Ret

ail

Exp

ort

Ceeldaraad’s establishedfull cycle facility, addressesall of the main stages of the

“catch-to-market”value chain.

Resilience requires the purchase of back-up equipment such as generators, spares and eventually additional cold storage facilities located in inland cities, providing both back-up and saving on distribution costs.

Ceeldaraad’s retail plans call for outlets to be opened in the major towns & cities of Somaliland, then further afield, including land locked countries bordering Somaliland. There is relatively little fresh fish consumption away from the coastline due to the lack of refrigerated transport and storage, though demand exists. Ceeldaraad will be in a position to take advantage of this opportunity.

Catch capacity will be increase through the purchase in additional boats to a maximum of 3 large boats and 10 small by the end of phase two of our three-year development plan.

Our investment plans are now aimed at building resilience, expanding our retail outlets and increasing catch capacity.

Company Profile

The economic multiplier effectof each dollar spent locally will help those in poor rural communities to access safer livelihoods and experience nutritional benefits that would not otherwise be available.

Ceeldaraad has successfully invested in boats, crewtraining and support equipment, giving a potential combined catch capacity of 40 tons per sailing1. Our investment in onshore processing and cold storage facilities allows us to cope with this maximum catch capacity and more.


The people of Somaliland have traditionally beenseafaring people, supplying skilled crew to the worlds merchant fleets.

Today Somaliland has small scale fishing along the coast and from the country’s ports at Zeila, Berbera, Hiis and Maydh, but apart from Ceedaraad Fishing Company there is little in the way of commercial fishing for the domestic market. Very little fresh fish is shipped to inland markets and the country is seeing its fish stocks depleted by foreign fishing vessels.

Now Ceeldaraad is taking advantages of the abundant resources in the seas around Somaliland, creating a profitable commercial fishery venture that will benefit its investors and Somaliland.

Having establishing the Company Ceeldaraad is now entering its second phase, securing current investment and growing - both locally and regionally. In the long-term we see the company moving into the aqua culture food industry developed as a specific revenue stream.

Fish such as Tuna, Mackerel, Herring and Lobster are found in abundant quantities in Somaliland waters. In Ceeldaraad’s facilities they are now being processed, sold fresh or frozen to local markets. With further investment Ceedaraad is uniquely placed to expand into regional and international markets - a viable opportunity due to the success of our full cycle “catch-to-market” ability.

Ceeldaraad is now supplying fresh fishto local markets, proving the concept and building a solid foundation from which to start our growth phase.

With fish in abundance in local waters and no shortage of able workers - both to crew our boats and to process and distribute our fish, Ceeldaraad Fishing Company has the natural resources and the proven concept. The potential for a commercially viable full cycle fishing business is clear.

In addition to commercial benefits to its backers Ceeldaraad will significantly improve food supply and nutritional security for the fast growing urban population of Somaliland.

The addied potential for exports to the region will give a significant boost to local job opportunities and the Company’s revenues. The vast market of Ethiopia offer a huge opportunity we will be able to service with our refrigerated strorage and transports capability.Over time fresh fish such as Tuna may be sold to Asia, the Middle East and Europe, once all elements of the current business plan and additional investment are in place.


2013:• Set up the full fishing cycle.

• Established a regular supply to the local area.

• Opened our first retail outlet in Hargaisa.

• Purchased one large and two small boats.

2014: • Review first year business plan.• Further expansion into wider Somaliland market.

• Open two outlets operating as wholesale and retail.

• Purchase an additional two small boats.

Catch Projection

2014/2016

2014

55,200

4 Small Boats

1 LargeBoat

183,000

235,200Kilograms

2015

110,400

425,000

535,400Kilograms

2016

82,800

251,000

333,800Kilograms

6 Small Boats

2 LargeBoats

8 Small Boats

3 LargeBoats

Key Milestones & Projections

Notes:1. Note 1 page 4: The potential

combined catch capacity of 40 tonnes per sailing is the combined total capacity (fish & ice) for the current fleet of one large and two small vessels, per sailing.

2. Conservative catch projections are based on small vessels sailing only four times each month and landing an average of 236Kg each time. Large vessels sail only twice a month and land an average of 7625Kg each sailing.

3. Projections include allowances for Seasonal variation, bad weather, maintenance & repair breaks and crew absence .

2016: • Review & amend third year business plan.

• Continue our expansion into Somaliland and Ethiopian Markets.

• Open four additional retail outlets and purchase a further 1 large and 2 small boats.

• Build a fish processing factory.

• Establish distribution links in the Middle East.


2015: • Review & amend second year business plan.• Further expansion into the wider Somaliland market.

• Open three additional retail outlets

• Purchase one large boat and two small.

• Entry into the Ethiopian market.

Fish prices in Somalilandper kg.

$6.00$5.00

$4.00

$3.00

$2.00

$1.00

0Wholesale(Whole Fish)

Retail(Whole Fish)

Retail(Filleted Fish) Notes:

1. Fish prices are based on averages as shown in the survey data from Shuraako, Industry Analysis: Fishing in Somaliland 2012, which include movement over the period as demand changes.

Average Price Movement over the period

Retail(Filleted Fish

Retail(Whole Fish

Wholesale(Whole Fish)

Nov 2011 Sept 2013

www.ceeldaraadfishing.com

Ceeldaraad Fishing Company

Ceeldaraad Fishing Company


☎ UK +44 (0)77 4888 0071

☎ SL +252 (0)63 468 9293 Abdi Segulle

☎ SL +252 (0)63 468 7489 Saeed Soleman

For further information on the Company or any current investment opportunities, please contact us by whichever of the means listed below you find most convenient:

58 Angelina Street, Cardiff, CF10 5HZ, UK

Daaroole, Berbera Port, Somaliland

[email protected]

@Ceeldaraad

www.ceeldaraadfishing.com

Ceeldaraad fishing company

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