NEMACO: A look at the numbers

60 million Ariary: That was NEMACO's turnover between August and November 2019. How can that be interpreted? We take stock and give an insight into the figures of the first months of operation.

This summer, NEMACO started working with the small-scale fishermen in southwestern Madagascar. The project is on track: the NEXUS concept seems to be working. The important processes have been defined and are now well established. We have already learned a lot and iteratively implemented the findings. Nevertheless, the challenges do not run out.

Purchasing: Engaging more fishermen
To date, NEMACO has directly purchased, cooled, processed, transported and sold around 8.5 tonnes of fish and seafood from local fishermen. The most important products in terms of quantity are large fish such as Merou, Thon or Carangue (34%), smaller fish (20%) and octopus (squid) with 20%.

The southernmost village Ambohibola supplies 35% of all products, followed by Besambay and Befasi (22% each). Per village it is estimated that ten to 20 percent of all fishermen work with us. The goal for the coming months is therefore clear: to win the support of more fishermen for the NEMACO concept and thus increase the quantities.

NEMACO's permanent presence is appreciated by the villagers - as a local employer, fair partner, professional point of sale and source of safe drinking water. We will strengthen our position in the village with further measures in the new year.

Sales: Optimize distribution channels
Of the just over 60 million Ariary in sales, three fall on drinking water, 57 on fish products. We generate about half of our sales with individual customers and a quarter each with hotels, restaurants and retailers. We started with selling all our fish products in the Tulear area, where we are now reaching our limits. The next step is for the NEMACO team to develop new sales channels in the capital.

For our customers, the freshness and quality of our products are the main selling points. They also increasingly appreciate the holistic nature of the concept and the direct cooperation with the fishermen - which makes us very happy.

As expected, water accounts for only a small part of income: To date, we have sold around 70,000 litres of water per month to the rural population at heavily subsidised prices.

Conclusion: break-even can be achieved
How do these figures relate to the costs? NEMACO is not yet profitable. However, if we more than double the quantities of fishery products, we will be able to cover local operating costs. NEMACO is working towards this next milestone. In addition to the targeted economic development of a remote region, we also want to make the social and ecological impact more measurable in the new year. We are confident and look forward to the next steps!