Perspective of the Economy Situation in the Fishing Industry of the Volta Basin in Ghana: Case Study of Dzemeni and Kpando-Torkor

Abstract

The paper examines the existing economic situation and how it operates following the introduction of cage culture. It assesses the challenges facing major fishing communities along the Volta Lake and describes government’s role. Using a participatory rural appraisal, questionnaire administration and participant observation, data were gathered from two districts in the Volta Basin of Ghana. Key areas of the study included, limited accesses to information, ownership control of the means of production, financial institutions, decision making with regards to resource use, and management and investments in fishery. The result shows that soaring prices of fishery implements due to high exchange rates, coupled with declining fish stocks have reduced the profitability of the processing and sale of fish. About 60% of fishers interviewed agreed that the bulk of fishers have contributed to the decline in fish stock in the Volta Lake. Fishers also outlined three chal lenges namely the lack of access to information on best practices, high interest rates on loans (10% - 40%) and lack of proper structural and institutional arrangements that account for the poorly regulated and managed fishery sector. It is expected that the introduction of cage culture innovation will promote sustainable production, distribution and improvement in fishery services and help to address the basic problems of fishing communities in the Volta Basin of Ghana. However, a review of local and national institutional arrangements for regulation and management of the fisher sector are crucial for long-term sustainability.