Profitability of Canoe Fishing Using Outboard Motors

This paper determines the profitability of canoe fishing using outboard motors in the Keta Municipality. Primary data were collected from 40 outboard motor canoe fishers including their socioeconomic characteristics, cost and revenues generated from outboard motor canoe fishing, and the constraints they faced. The study specifically estimates the costs and revenues of outboard motor canoe fishing, measures the worth (profitability) of outboard motor canoe fishing, analyzes the output trend of outboard motor canoe fishing in the Keta Municipality from the year 2000 to 2007, and further identifies and ranks the constraints facing outboard motor canoe fishers in the Municipality. The costs and revenues were determined by using a simple cost function. The profitability was determined by projection for ten years, from 2009 to 2019 using the Net Present Value (NPV), Financial Internal Rate of Return (IRR), and the Benefit-Cost Ratio (BCR) approaches. The trend was analysed using the values of mean output, and the trend regression in estimating the growth rate. The constraints were identified and presented to the outboard motors canoe fishers to select the one applicable to them.