Redefining aquaculture with Chicoa Fish Farm
Chicoa is a vertically integrated aquaculture company that produces and processes tilapia, making high-quality, affordable fish more accessible while helping to preserve ocean resources. With distribution networks across Mozambique, Malawi, South Africa, Zimbabwe, and Zambia, Chicoa has been driving growth and impact in its sector since 2015.
Improving local nutrition and incomes
Chicoa Fish Farm addresses food insecurity in Africa, especially in Mozambique, where most people can’t afford a nutritious diet. With a well-established breeding program, Chicoa is increasing local fish production, training small-scale farmers, and building strong supply chains to provide an affordable, sustainable source of protein while reducing dependence on imports and overfishing.
Why Goodwell invested
Goodwell invests in agricultural businesses that increase the availability of food, lower consumer prices, reduce greenhouse emissions, and create better local jobs. We focus on strengthening local processing, improve value chains, and make communities more resilient to climate change. Our investment in Chicoa Fish Farm supports a stable market for affordable protein while improving opportunities for smallholder farmers and food vendors across southern Africa.
Recent achievements and future ambitions
Chicoa has created much-needed jobs in one of the poorest regions in the world, while also improving local infrastructure by bringing roads and electricity to nearby villages. In addition to supporting better incomes for small-scale fish farmers, female vendors trading Chicoa’s fish in Mozambique and Malawi now earn up to ten times the minimum wage, visibly improving livelihoods in the community.
In 2023, Chicoa completed a merger with Lake Harvest, forming the largest vertically integrated tilapia aquaculture group in Africa, with farms in Zambia, Zimbabwe, and Mozambique, and a sales joint venture in Malawi. The company plans to expand capacity to 15,000 tonnes per year, strengthen cold chain logistics, and achieve full ESG certification for its processing facilities.
How aquaculture provides a fresh, affordable source of protein
“As an anchor farm, we act as a catalyst. Overcoming hurdles, creating availability, and building markets. It’s not just about what we do directly, but also about what we provide indirectly. The hope is that it can be replicated.”
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