FirstWave Group is a leader in African aquaculture, operating a vertically integrated group of companies across the production, distribution and retail of fish and aquafeed in Southern and Eastern Africa. The company has grown from start-up to regional leader in five years and is now the largest vertically integrated freshwater aquaculture business in Sub-Saharan Africa.
FirstWave Group consist of three subsidiary companies:
- Yalelo Zamia
- Yalelo Uganda
- Aller Aqua Zambia
Yalelo Zambia produces, distributes and retails tilapia in Zambia with operations in the open waters of Lake Kariba. Yalelo’s fish pens are the largest in Africa, providing an open environment for the tilapia. Yalelo has a philosophy of sustainable farming and does not use antibiotics, chemicals or growth hormones. Its fish enjoy a diet based on local Zambian soy, maize and wheat. Yalelo places its fish on ice from the moment of harvest, delivers nation-wide with refrigerated trucks and has a large network of its own retail shops. This reliable cold-chain provides customers with a traceable quality.
Following the success of Yalelo Zambia, FirstWave Group started a new fish farm in Uganda (Yalelo Uganda) which started production in 2020 with operations in the open waters of Lake Victoria. Uganda’s large market for fish and the extended share in lake waters provides Yalelo Uganda with a huge opportunity to grow, while maintaining an ecological balance.
Aller Aqua Zambia provides high quality feed and related R&D for aquaculture. With over 50 years of experience, this makes Aller Aqua one of the world’s most experienced suppliers of feed for freshwater and saltwater aquaculture.
FirstWave Group aims to contribute to food security by providing large volumes of healthy fish to the local market in protein-deficient areas of Sub-Saharan Africa. Tilapia is a natural source of protein and calcium, while low in fat and cholesterol. In addition to increasing the availability, FirstWave Group is making fish more affordable, enabled by its well-managed local production facilities.
Veris recognised the potential of FirstWave Group’s professional management team, world class aquacultural advisors, agricultural set-up and data driven approach and provides growth capital to the company.