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Ministry of Blue Economy, Marine Resources, Fisheries and Shipping

Fisherman Investment Trust

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FISHERMEN INVESTMENT TRUST​ ​
About us ​ ​ Image2.jpg

Activities and projects
Services and updates
Cooperation Image3.jpg

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Reports
Contact Us
Photo gallery
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About us

 
The Fishermen Investment Trust (FIT) is a body corporate, established under the Fishermen Investment Trust Act 2006. FIT falls under the aegis of the Ministry of Fisheries. The Fishermen Investment Trust Act 2006 came into operation by proclamation with effect from 31 January 2007.
FIT constantly aims at democratising access to the fishery resources of Mauritius and giving due recognition to the fishing community. The Trust targets amongst others, artisanal fishermen and bank fishermen in order to promote the development and diversification of fishing operations and aquaculture.
The FIT has an authorised capital of Rs.65 million made up of 6.5 million shares valued at Rs.10 each. The Government has subscribed 1.5 million shares on behalf of the fishermen of Mauritius and Rodrigues.

The purpose of the FIT is to invest directly or through a body controlled by it in fishing and other related activities. The FIT aims at developing projects and schemes for the empowerment and welfare of fishers. The FIT also encourages and provides assistance to investors to set up business in Mauritius either as a private concern or in partnership with the FIT. All technical facilities are provided by the Albion fisheries Research Centre through the FIT.

Mission of FIT

To accompany the Fishermen community to a better tomorrow through viable and sustainable initiatives and contribute to their social upliftment.

Vision of FIT

To be a key player in the fishing industry while empowering the fishermen community to be a partner in the socio-economic development of the country.
 
Administration and management
The Trust is managed by a Board of Directors which includes three representatives of fishermen.
Composition of the Board
Mr. Gilbert Jyh Guang Shu
Chairperson
Mr. H. Hemraz
Mr.L.Manfred Orieux
 
Representative of fishermen from Mauritius
 
Mr. J.J Raphael Siroux
Representative of fishermen from Rodrigues
 
Mr. D. Norungee
Representative of the Ministry of Fisheries
Mrs. S.L. Piang Sang Sew Hee
Representative of the Ministry of Finance and Economic development
Mrs S. Gungadeen
Representative of the Ministry of Shipping, Land transport and NDU
Mr. V. Pursun
Representative of the outer Inlands Development Corporation
Mr. G. Wong So
Mr.R. Poonie
Prof. S. Facknath
 
Members appointed by the Minister
 
 

Activities and projects

 
​1. Barachois Project (Bassin Hubert and Petit Barachois). Image5.jpg

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2.​ Crab Project
3.​ Oysters and Abalones
4.​ Aquaculture (small scale fish culture) Image6.jpg

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5.​ Fishing Boats
6.​ Fishing Quota’s
 

Services and updates

 
The FIT provides the following services:
1.       Request for information
2.       Aquaculture/Commercial investments in the fisheries and aquaculture sector
3.       Consultancy & Business planning
Fishers empowerment

Barachois Project (Bassin Hubert and petit Barachois).

The barachois Bassin Hubert has an extent of 51.4 hectares and Petit barachois covers an area of 9.5 hectares (Land and sea conponents). The outlets at the southern end allow a continuous exchange of lagoon waters across the barachois.
The water depth varies from 0.4 metres in the shallower parts to 2.8 metres in the deeper parts. The sea bottom is composed of a uniform layer of muddy silt (30to 40 cm)
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Sparce patches of macroalgae species (Padina and Digenea simplex) may be seen in the shallower areas. Numerous crab holes can be seen at the periphery of the barachois.
The Fishermen Investment Trust is seeking for development partners to invest in an integrated project for the above mentioned barachois. Contact the FIT​ ​
 
Plan of the Barachois:
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Crab Project
The FIT is actively promoting the commercial farming of the mud crab (scylla serrata) using the Recirculation Aquaculture System. The RAS machines are readily available and the FIT represents the biggest RAS machine manufacturer from china.
The FIT has worked out the full business plan for the commercial culture of the mud crab.
 
Contact the FIT for additional information
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Oysters and Abalones

 
The FIT in collaboration with strategic partners intends to launch the commercial culture of oysters and abalones in Mauritius and Rodrigues. In this context the FIT is actively seeking strategic partners for this project.
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Aquaculture (small scale fish culture)

 
The FIT in collaboration with the Albion fisheries Research Centre has set two fish cages at Trou D’eau Douce and Grand Gaube. Two more will be set up at Mahebourg and Le Morne in 2013. It is expected that revenue obtained from the cage cultures will complement the income of the fishers concerned thus enabling them lead a better life.
The Fishermen Investment Trust is also encouraging the development of commercial aquaculture at sites already identified around Mauritius.
In this context the FIT is also seeking partners for the development of and or culture of:
·         Sea cucumber
·         Oysters and abalones
·         Eels
Fish (Gueule Pavee and/or Cordonier)
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Fishing Boats

 
To assist fishermen move to the more productive FAD fishery, the FIT invested in the construction of two fishing boat (FIT 1 & 2, 9.5 metres with a 78 hp inboard engine) to operate around FAD’s or within 20 nm. The boats are rented to fisher’s cooperatives or associations. A third fully equipped fishing boat (for long line fishing) was donated by the MEXA to the FIT.
The FIT is now seeking interested parties (fishers cooperatives/fishers association) to operate the boats on a rental basis.
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Mexa 1
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FIT 1
 For additional information, contact the FIT.
The FIT has obtained a quota of 1000 tonnes of fish at St. Brandon (600t) and the Nazareth bank (400t) from the parent Ministry.
 The FIT markets its fish quota’s in multiples of 10 tonnes at Rs. 60,000 per tonne. Any operator in the sector is welcome to purchase a fish quota from the FIT.
Note that as from January 2013, no quota will be marketed for Lobsters and octopus from the St. Brandon area.
Contact the FIT for any additional information.
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Cooperation

 
1.       The FIT signed a memorandum of Understanding (MoU) with the Sepang Today Aquaculture Centre (STAC) based in Kuala Lumpur, Malaysia.
The MoU makes provision for:
§  Capacity building in crab culture
§  Representation of the STAC in Mauritius
§  Provision of equipment for crab culture
§  Other aquaculture services
 
2.       The Fishermen Investment Trust and the Outer Islands Development Corporation (OIDC) intends to develop the marine ranching of sea cucumber in Agalega. In this context a business plan was approved by both the OIDC board and the FIT Board. The project is due to start early next year, 2013.
 
 

Reports

 
  •    Reports
The following reports are available at the FIT
1.                   Annual Report  2007/2009
2.                   Annual Report 2009/2010
3.                   Annual Report  2011
4.                   Business plan for off lagoon and FAD fishery in Mauritius
5.                   Ecological survey at the Poudre D’Or barachois
6.                   Business plan for the commercial culture of Crabs using the RAS
7.                   Strategic plan 2012/15
 
  •    Vacancies
The FIT has the following vacancies:  NIL

  •     EOI                          Nil

Contact Us

 
For any queries or information please feel free to contact any of the under mentioned:
 
 
Mr. Satish Hanoomanjee
Chief Executive Officer
Fishermen Investment Trust
Albion Fisheries Research Centre
Albion
Mauritius
Tel: (230) 238 4472
 
 
Mr. Gowtum Bokhoree
Finance & Investment officer
Fishermen Investment Trust
Albion Fisheries Research Centre
Albion
Mauritius
Tel: (230) 238 4475
 
 
Mr. Gilbert Shu
Chairman
Fishermen Investment Trust
Albion Fisheries Research Centre
Albion
Mauritius
Tel: (230) 499 3333
 
 
 

 
 

 

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