“Coastwatch” Somali Style — The Benefits of Piracy

OK, I know I’ve been banging on about piracy in the last week, but a news piece from Channel 4 just out details an  unexpectedly beneficial side effect from Somali piracy.

You see, the reason why Somalians took up piracy in the first place was because Chinese and Japanese commerical fishing vessels were illegally raping the local fishing stocks. Without a standing navy, the Somalians were powerless to counter this theft and destruction. Consequently, the small, village-based fishing culture was all but destroyed.  But now, since their substitute occupation of piracy has gained momentum, large commerical boats no longer come near that particular coast.

The upshot of this is that local, small-boat fishermen right down into Kenya are enjoying bumper fishing with marine biologists indicating a massive recovery in both fish and shellfish numbers. This has translated into a wealth boom in small villages:  “Now the fishermen are able to catch up to £200 worth of fish per day in an area where the average daily earnings are less than £5.” Meanwhile, Kenyan gameboats are reporting their best season in 40 years.

It just goes to show, instilling a little fear goes a long way towards stopping bullies in their tracks.

Investing in piracy at the Somali “stock” exchange