Singapore’s China Fishery (CNFG.SI), which recently started fishing in waters off Mauritania, sees Africa not just as a source of fish but also as a potential market for its produce, its managing director said on Thursday.

“China continues to play a very important role but we do see Africa as up and coming,” Ng Joo Siang told Reuters in an interview.

 

He expects Africa to start contributing to revenues and profits in the current quarter, adding the continent could account for 20-30% of total sales in three to four years from less than 7% currently.

 

China Fishery is based in Hong Kong but is listed in Singapore. It operates a fleet of about 80 fishing vessels and supplies the bulk of its catch to China.