From understanding why operating profit margin multiplied by asset turnover determines your return on assets to learning the brutal truth that in aquaculture you can start small with 20,000 cedis drying fish the traditional way but as you make money from the local market you upgrade your equipment step by step until you're exporting to Europe where they test for polycyclic aromatic hydrocarbons that stick on fish skin when you smoke with firewood and might cause cancer which is why investing in modern drying machines matters even though it costs more upfront, the catfish farmer who explains that retailers have slim margins of 2% to 3% but high turnover of 2 to 4 times per year while companies like Fanuc making robots have very high margins but low turnover of 0.5 because they only produce maybe 50 robots per annum proving that scale is everything in the fish business and if you're doing a thousand fish you're going to be in trouble but if you're doing 10,000 tons or 50,000 tons you have leverage over feed companies like Raanan and Coppens because they know you're going to buy from them, the entrepreneur with a 100 kilowatt solar farm who admits he doesn't have the managerial resources to be thinking about making his own feed when companies can provide it and the real strategy to lower costs is just scale not trying to buy maize soybeans methionine and all those ingredients yourself when you should be focused on your fish and marketing marketing marketing, the aquaculture business owner who breaks down the regulatory maze you must navigate before starting a catfish farm in Ghana where the Fisheries Commission charges about 1,000 cedis for permits for both grow out and hatchery operations but the EPA charges around 20,000 cedis after doing environmental research and writing reports based on your capacity, the farmer who uses boreholes and has to deal with the Water Resources Commission which is in charge of all water bodies in Ghana and charges you for water you're drawing from the ground because you're using it to make money though they can't monitor all the farms using boreholes but his farm is right by the road so they can see the tanks and he has to comply, the wisdom that catfish farming is absolutely profitable and tilapia is very popular because any corner you turn in Ghana you see a Banco joint with tilapia and imagine the volume of tilapia we consume every day every week every month while catfish is just a niche but Nigerians have taught us you can actually grill catfish and people in the diaspora want dried catfish to make Banco joint and soup and Indians are waking up to the fact that it has a lot of meat and is not as bony as tilapia so the demand is actually growing, the strategic thinker who says you don't have to narrow yourself to Ghana as your market but think West Africa is my market and then the whole world is my market going through this step by step by step always doing your Japanese due diligence researching the background of where you want to have your catfish farm, the resirculating aquaculture system expert who uses RAS technology where water comes into the tank he feeds the fish they poop into the water and conventionally this water would be flushed out into gutters but in resirculating aquaculture he moves this water into a mechanical filter where the solids are filtered then it goes through a biological filter where any bacteria is eliminated, the minister for fisheries and aquaculture Mrs. Emilia Arthur who came and tried to streamline regulations because farmers had to deal with several regulators and it was really cumbersome and very expensive so they want the Fisheries Commission to be a one stop shop which is very welcome for the industry, the reality that if you're using Ghana Water Company your water bills are going to go up but you have to make a decision.

Host: Derrick Abaitey