The project had two components:
- The partnership Investment Fund (PIF) component whose mandate was to assist AU member states to better manage their fisheries through a co-financing mechanism.
- The Strategic Partnership (SP) component that meant to assist in disseminating lessons learned from the investments facilitated by the fund.
The overall objective was to promote the sustainable use of fisheries resources and the management of marine ecosystems that support them with the aim of facilitating effective poverty alleviation and provision of a sustainable income growth of fishing communities of Sub-Saharan Africa. Specifically, the project aimed at:
- Strengthening regional coordination in order to ensure complimentarity among country-level and regional projects especially with respect to management of trans-boundary fish resources.
- Accelerate country-level investments and actions in fisheries to assist individual coastal countries in Sub-Saharan Africa undertake the necessary governance reforms and sector adjustments towards sustainable management of the fisheries in a way that ensures distribution of benefits that will contribute to poverty reduction and improved food security.
- Promote learning, information exchange and capacity building at the regional level to ensure that the lessons from successes and failures are disseminated and can provide examples that align governments and stakeholders around a common understanding of the fisheries reforms necessary to meet the WSSD targets.
- Encourage direct financial support to the fisheries sector in order to meet the sustainable development objectives in fisheries and a reduction in poverty and vulnerability.
- Ensure sustainable use of fisheries resources is achieved in at least 10 countries in the Large Marine Ecosystems of Sub-Saharan African by 2015.