How to Start A Profitable Fish Farming Business in Ghana

Fish farming is one of the most lucrative agricultural business ideas in Ghana where income is made on a consistent basis. Coupled with the high consumption of fish with a low supply makes this business a very profitable one.

However, so many interested persons do not actually know the potential of fish farming in Ghana. Fish farming is all about rearing fishes for sale. In fish farming, you can breed varieties of fishes.

In this article, we’ll be looking at a comprehensive guide on how to start a profitable fish farming business in Ghana.

Fish Farming in Ghana

Fish farming is one of the most popular agribusinesses in Ghana with a huge profit margin. In Ghana, fish constitutes about 60 per cent of animal protein in the diets. Fish availability in Ghana consists of 47 per cent harvested fish, 18 per cent imports, 3 per cent farmed fish and 32 per cent deficit.

Due to this high deficit of over half a million metric tonnes of fish and fishery products, and high demand for fish, the Government has started encouraging local fish farming to increase fish production.

As an entrepreneur, this presents an opportunity to cash out on this fish farming project in the country.

How to Start Fish Farming Business in Ghana

In this guide, you’ll learn all that it takes to start a lucrative fish farming business in Ghana. Even though you had no prior knowledge about fish farming, this article is for you.

Step 1 – Choose Your Fish Specie

There are different species of fish in Ghana. You can choose to breed any or even all of them at the same time. However, it is recommended you start with a single specie if you’re a beginner.

1. Tilapia

Tilapias account for at least 95% of farmed fish in Ghana. This specie of fish lives in fresh shallow water.  It produces very rapidly and grows fast, also, it easy to cultivates and is very popular in the Ghanaian market. The world aquaculture production of Tilapia Fish farming is 4.2million tonnes with an estimated value of about 3 to $ 3.5billion.

2. Catfish

Catfish is the second most cultivated fish species in Ghana. One thing good about catfish is that it is one of the easiest fish species to cultivate. So, people naturally flow to the direction of fish specie they found to be the easiest to cultivate.

3. Mackerel

Mackerel is also another popular fish species in high demand in Ghana. Sadly, it’s not farmed, as they’re wild-caught. However, some farmers are exploiting the possibility of creating artificial salt water that will be suitable for mackerel farming.

Step 2 – Secure A Good Location

You will need a good location to start your fish farming business. It is recommended you get a piece of land in a place where it doesn’t cause any environmental disturbance. if you’re going into a small scale fish farming business, then a small space will be enough.

However, if you’re going into large scale fish farming business, you’ll need a bigger space for your farm. The bigger the size of your farm, the bigger your land.

Step 3 – Choose a Fish Culture System

Depending on your location, you will need to choose a fish culture system. A fish culture system consists of a combination of inputs: water, physical installations, feeds, labour and fish.

Each such combination yields a certain output in the form of fish (or other aquatic animals). The appropriate combinations are those for which the value of the inputs used during a specified period is less than the value the producer obtains for the fish produced.

Cages

A cage or net pen is a system that confines the fish in a mesh enclosure. By strict definition, a cage and a net pen differ based on their construction. A cage has a completely rigid frame (on all sides) and a net pen has a rigid frame only around the top.

Raceways

Raceway systems are among the earliest methods used for inland aquaculture. A raceway usually consists of rectangular basins or canals constructed of concrete and equipped with an inlet and outlet.

Ponds

A fish pond is a controlled pond, artificial lake, or reservoir that is stocked with fish and is used in aquaculture for fish farming.

Your choice of culture system depends on the cost of feed is a large proportion (50% or more) of the cost per kg of fish produced. Also, in Ghana, the cost of feed will be the determining factor.

However, in this article, we will recommend the use of a fish pond for fish farming.

Step 4 – Construct a Fish Pond

In constructing a fish pond, you should consider the size, construction method, water supply, drainage and maintenance. The size of the pond will depend solely on the land size and water availability.

Step 5 – Provide a Source of Water Supply

You also need a constant source of water supply for your farm. A typical pond will be fed by water from a borehole or a nearby water body. The supply channel should be constructed so that it is possible to regulate, including completely blocking the inflow of water to the pond.

Step 6 – Provide a Drainage System

You can’t start a fish farming business without a proper drainage system. There are three alternatives for drainage: (i) a monk, (ii) turn-down drain pipes, or, (iii) siphoning in combination with an overflow (in case the inflow can not be fully controlled).

Step 7 – Supply Fingerlings

For your farm to become fully functional, you’ll need to supply fingerlings of your preferred species of fish. You can get fingerlings from a nearby fish pond for your farm. Also, you need to take your time to identify fast-growing and disease-resistant breeds of fingerlings to ensure profitability.

Step 8 – Get Quality Feeds

For your fish to grow healthy and faster you’ll need to provide your fingerlings with a quality feed. There are two ways to obtain feed for fish farming in Ghana: locally produced feed and imported feed.

However, fish feeds locally produced are in bad quality as most of them are not extruded. Imported feed is appropriately 30% more expensive than locally produced. So importation is not a quick fix.

Step 9 – Start Marketing

Marketing is an integral part of a successful fish farming business. Harvested fishes are sold based on weight measured in kg. You need to know the right pricing for your fish. Ghana has an already established market for fish farming, so you shouldn’t have difficulties selling off all your products.

Conclusion

There is no doubt that fish farming is among the list of lucrative agribusinesses in Ghana. Before venturing into it, you need to come up with a sound business plan and follow it to the later. Also, you need to apply good management skills and follow acceptable standards.