The Norwegian group Alta Mar African Holdings is making a significant move into Morocco’s aquaculture sector with a $21 million investment in Safi. This ambitious project, centered on state-of-the-art facilities for Atlantic bluefin tuna farming, is expected to begin operations in the fourth quarter of 2025.
At the helm of this initiative is Jan-Helge Dahl, CEO of Alta Mar, who sees great potential in Morocco’s aquaculture industry as global demand for high-value fish continues to rise. The project, financed through a mix of 70% debt and 30% equity, will be overseen by Zayed Bennani. It will include a 2.3-hectare hatchery, offshore farming cages covering 75 hectares, and an 8-hectare processing unit built to meet international export standards, ensuring access to global markets.
This investment comes at a time when aquaculture remains a relatively small industry in Morocco. In 2022, the country’s total aquaculture production reached just 2,310 tons—less than 0.1% of Morocco’s total fish production, which exceeds 1.5 million tons. The industry is currently focused on farming species like sea bass, sea bream, and trout, while freshwater fish farming largely relies on extensive production systems.
Despite its modest footprint, aquaculture is seen as a strategic tool for preserving marine resources, especially as overfishing and climate change continue to threaten fish stocks. Aware of these challenges, Morocco has set ambitious goals for expanding the sector. The National Agency for the Development of Aquaculture (ANDA) plans to establish 232 new fish farms by the end of 2025, aiming for a production capacity of 115,900 tons.
As Africa’s second-largest fish supplier after Egypt, Morocco is actively working to diversify its production sources to keep pace with rising demand. In 2023, coastal and artisanal fishing yielded over 210,000 tons of fish, marking a 9% increase from the previous year.
Alta Mar African Holdings’ new-generation fish farm is not just a standalone project—it’s part of a long-term vision. The company has its sights set beyond Morocco, with plans to expand into other African nations, including Tanzania, Angola, and Guinea-Bissau. This strategic expansion underscores Alta Mar’s ambition to become a key player in the continent’s growing aquaculture industry.
