The Ohlthaver & List (O&L) Group of Companies’ fishing subsidiary, Hangana Seafood has entered into a shareholder’s agreement with Token Fishing.
The joint venture is in response to the Minister of Fisheries and Marine Resources, Bernard Esau’s appeal to established fishing operators to embrace new right holders and broaden the sector’s stakeholder base.
Managing Director (MD) of Hangana, said the reason the two fishing companies entered into an agreement is in the best interests of the industry.
“The minister has allowed new right holders to enter into agreements with existing right holders and at Hangana we are willing to continue investing and remain committed to growing the industry in a sustainable manner”.
“We chose Token Fishing as similarities between our business ethics, values and culture make this a win-win partnership. We believe that through partnerships and innovation we will be able to increase volumes and overcome some of the challenges facing our industry,” said Theron.
Theron also said that he is excited about the agreement.
“We are committed to getting involved in the industry through more joint ventures which will facilitate value addition, employment creation and market diversification,” said Theron.