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Launched on February 23rd in Mangochi in Southern Malawi, President Mutharika unveiled the country's aquaculture initiative based on the USAID-supported COMPASS II project. The fisheries sector in Malawi is one of the most important both in terms of economic impact and food security. Fisheries contribute 4% of GDP to the national economy, employing more than 450,000 people in fishing, fish trading, and the provision of other goods and services used by fishing communities and the commercial fishing fleet operators. There are about 48,000 traditional fishermen in Malawi. The government estimates that 3,000 fish farmers own 7,000 fishponds scattered around the country, producing only 500 tons of fish annually.