The short course was presented at the University of Namibia SANUMARC Campus in collaboration with the United Nations University: Fisheries Training Program.
It covered two main areas, mainly production planning and profitability models. The former, deals with the various aspects of production cycle and the cost of production. Whereas the profitability model incorporates all the cost involved: variable and fixed, economic factors, investment / capital and assess the profitability of the enterprise.
The participants included government officials (MFMR) from head/regional offices and IAC's (Inland Aquaculture Centers), representatives of AgriBank and Development bank of Namibia (DBN) and the industry: Mariculture.
The short course was presented by Dr. Pall Jensson, Professor of Engineering Management at the Reykjavik Uiversity and Mr. Arnthor Gustavsson, Lecturer and Research Facility Manager at Holar University College, Iceland.
The lessons learned during this training is invaluable as it will aid with production planning at our institutions and fish farms, and also assess emerging and existing aquaculture projects and advice accordingly.
Indeed the aquaculture production modelling and profitability assessment will help farmers, extension officers, researchers and financial institutions to understand how to construct and evaluated production and financial plans in aquaculture. Analyse feasibility and risks in establishment and expansion of aquaculture enterprises.
Prior to the development of production and profitability model, we were taking through various topics namely, fish biology and economics, fish mortality feed and feeding types, economic principles and marketing, production cost , economics of scale as well as basic principles in economics and accounting (NPV,IRR, Cash flow).
Finally, the students participate in group work activities on Uis Aquaculture Fish Farm, EcoFish Farm and Silver Kob experiment at SANUMARC cases. The production and financial (costing) information from each enterprise were fed into production and profitability models.
From the exercise, we learned the importance of quality and accurate data/record keeping and taking various factors into consideration. With the knowledge and skills acquired, we will better plan projects that will be sustainable and viable (profit making).