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Business News of Friday, 6 October 2023

Source: classfmonline.com

Fisheries Ministry revokes licenses of 14 fishing vessels

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The Fisheries Ministry has revoked the licenses of some 14 vessels operating in Ghanaian waters due to violations of the country's fishing regulations.

Deputy Fisheries and Aquaculture Minister Moses Anim disclosed this decision, stating that the vessels had not obtained proper authorisation before leaving port.

The Ministry is now working with the Fisheries Commission to monitor the activities of these vessels in Ghana's waters and ensure compliance with regulations.

Illegal, unregulated, and underreported fishing activities have been a significant issue in Ghana, costing the country approximately $100 million per year, according to the Environmental Justice Foundation.

Some of the problematic practices include the use of unapproved fishing gear, light fishing, fish dumping, dynamite fishing, and transhipment at sea, known as Saiko.