Mr. Emad Galada the owner of Horse Fishing Company who is an Egyptian and a prominent and renowned businessman in Egypt and the gulf of Arab states. As a Private Company, Horse Fishing Company acquire Lease for 8.408 Acres of lands for it subsequent fishing projects since 2003.

In a media engagement , at the company site last week at jui  ,the managing Director Horse Fishing Company Limited , Hossam Magdy described and outlines to newsmen the challenges the company is facing and also relatively to development .

He said, Since 2003 the owner have invested over 20 Million dollars on procurement of fishing Trawlers, Semi – Industrial Boats, construction of a new Jetty which exclusively cost is about ( $ 1,000 in 2004), refrigeration containers, blast freezers components, Human Capital and others.

He further notes that ,Despite the challenges in the business, Mr Emad have been resilience in his investment in Sierra Leone, he have a strong liking for Sierra Leone and he have considered Sierra Leone is second home.

He reveal that In 2006 the Ministry of land in a bid to reduce the acreage of Land Lease to Horse Fishing Company to offer to SABCO Fishing Company summoned the Horse Fishing in the high court with the pretext that the land is not developed. The company have been in Court with the Ministry of Lands since 2006, 2007 and 2021 in the high Court, Court of Appeal and Supreme Court.

On the  the Judgment of the Supreme Court, he  Reference 13th Day of JANUARY, 2021 in which SABCO Fishing Company obtained 2 acres from the initial 8.4084 Acres acquired by Horse Fishing Company, the court further order the Board to convene

He went further to note that ,within 30 days and prescribe terms and conditions of a License which should be                                        incorporated in a New Lease Agreement between the Government of Sierra Leone and Horse Fishing Company Ltd for the new acreage of Land occupied by Horse Fishing Company. The Ministry of Lands however renege to follow this order and till date the Horse Fishing Company is without a Lease Agreement whilst SABCO have its own Lease Agreement.

With frustration he said the  owner have put on hold his massive investment chapter for the Company. The Ministry of Lands however continues to frustrate investment and development that are pending, Decision from the Ministry  to further give some part of this land to another Fishing Company that is not mentioned in the Supreme Court Judgment.

He said the owner Mr Emad unhindered vision to reinvest in Sierra Leone remains extant although the Ministry of Lands is trying to discourage the investor to invest more and expand it employment scale by 1000% when the required 10 vessels will be in the territorial waters of Sierra Leone.

Mr Konomani  the Director of HR , in his brief statements to the media said, the New Managing Director Hossam Magdy Elkhwaga have a shared vision to compliment sustainable employment and broader investment. “As Managing Director he have been in consultative meeting with the former Minister of Fisheries which again was pursuing to have some piece of land from our already reduced land, she was resisted by the present Managing Director, and she vowed that she will not Authorized any vessel coming to work for Horse Fishing Company neither license in vessels.The Director of lands Tamba contempt with the court judgment and pursued his quest to further reduce the acreage of land of the Horse Fishing and give to Thomas Koroma who is part of Adjan Fishing Company”, he said

He inform journalists that Under the management of Hossam Magdy Elkhwaga, he have facelift the Company and completely change the outlook of the Company and he is pursuing the implementation of: Constructing a 5 story multi-purpose building, Outsourcing of 10 Industrial Vessels, Increasing Employment by 1000 %,  Investing on human capital ( Welfare of workers), Numerous services and Health terms and conditions

The HR Director continues to plead with the Ministry not to interfere with the remaining acreage of land that is existing after deducting 2 acres for SABCO Fishing Company. The HR Director insisted on the fact that the company is law abiding and will not contempt ant ruling from the Supreme, meanwhile, he is urging the Ministry of Lands to resolve this impasse base on the Supreme Court Ruling in 2021.

He further emphasized that any attempt to further deduct from the remaining Land will destroy the South – South bilateral relationship and will hinder broader investment in the country from the new Management of Horse Fishing Company.

“The Horse Fishing Company is a reformed company now, evidently, within the premises there are strong indications that the Company have revive to a new era. The Managing Director vow to expand it operations by outsourcing more Fishing Vessels for Industrial Fishing Activities” he concluded.