Value creation for the fishermen of Madagascar in combination with much needed resource management.
Madagascar faces many challenges. It is one of the 10 poorest countries in the world, and owing to geographical factors it is vulnerable to the consequences of climate change. The local economy depends on farming and fishing, which can be done in a more efficient way. The NEXUS Centers in Madagascar have therefore taken the local fishing industry to another level in order to create more value for the local people.
NEXUS Madagascar Company (NEMACO)
The NEXUS Madagascar Company (NEMACO) is a social enterprise with an innovative business model that aims to provide 50 fishing villages with access to infrastructure and know-how to sell their fishery products to the market. The project in the Atsimo Andrefana region combines infrastructure development and the use of technology with the transfer of entrepreneurial know-how and skills. At the same time, the project has an environmental impact through marine life conservation. This holistic approach fosters economic and sustainable development in a remote, underdeveloped area.
Value for everyone
NEMACO is owned by its investors, the fishermen and WECONNEX. So far, it has set up NEXUS Centers in 5 fishing villages. These Centers, which it runs with a team of local employees, provide the necessary infrastructure and arrange the logistics. NEMACO also provides training for the fishermen as well as market access. Eventually, NEMACO will buy the fish, resulting in an integrated value chain. By improving quality and increasing market power, significantly higher prices can be achieved in future. This margin will provide for the refinancing of the infrastructure.