Eyethu Fishing, based in the Port Elizabeth harbour, is an independent, successful and innovative grouping of small and medium fishing rights holders in the Eastern Cape. They are also the largest hake processing factory in the area with a substantial ice plant, cold rooms and SABS and HACCP* (European Union) approved facilities.
Eyethu Fishing is an empowerment company that was set up to facilitate the advancement of ‘black’ Eastern Cape fishing companies,while developing the industry and resources of the area. The shareholders and participants in Eyethu fully reflect the investors from all the Eatern Cape communities including a co-operative company owned and managed by the staff. This all came about in 1996 when Pioneer Fishing, who established the first and still the only substantial fish processing facility in the region, were sold to this new, more widely held and broadly-based company – Eyethu.
There are currently 7 shareholders in Eyethu, five of which are ‘balck-owned’whilst the other 2 have a very substantial empowerment component. The participation in Eyethu Fishing by people from the previously disadvantaged sectors of society is 73% and that of the former pioneers and founders is only 27%