Value creation in the form of sustainable fishing is what NEXUS Madagascar Company (NEMACO) aims for. The local communities will ultimately benefit from the integrated infrastructure and value chain.
Madagascar faces many challenges. It is one of the ten poorest countries in the world and is vulnerable to the effects of climate change due to geographical factors. The local economy is also dependent on farming and fishing, which can be done in a more sustainable and efficient way. The NEXUS Centers in Madagascar have therefore taken the local fishing industry to a higher 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 give 50 fishing villages access to the infrastructure and knowledge to sell their fishery products on the market. The project in the Atsimo Andrefana region combines infrastructure development and the use of technology with the transfer of entrepreneurial skills. At the same time, the project has a positive environmental impact by preserving marine life. This holistic approach promotes economic and sustainable development in a remote and underdeveloped area.
Value for everyone
NEMACO is owned by its investors, the fishermen and WECONNEX. So far, NEXUS Centers have been set up in 5 different fishing villages. These centers, which are managed by a team of local employees, provide the necessary infrastructure and logistics. NEMACO also provides training for the fishermen and better access to the market. 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 the future. This margin provides for the refinancing of the infrastructure.