The Applicability of Individual Transferable Quotas for the Fisheries of Lake Victoria

Abstract: Their common-pool resource characteristics make fish stocks susceptible to overexploitation. Lake Victoria, the largest inland fishery in Africa, has seen dwindling fish stocks and profits in recent years. Entry to Lake Victoria is unrestricted and regulation is instead characterized by restriction on gears and fishing periods. Individual Transferable Quotas (ITQs) have gained traction in recent decades and are used to transform fish stocks from being common-pool resources into being properties with entry restricted to quota owners. This papers sets out to evaluate whether ITQs could improve the profitability and sustainability of the fisheries of Lake Victoria, and if an implementation of them is possible. By studying the theoretical effects of ITQs, the experiences from ITQ managed fisheries, and the fisheries of Lake Victoria, the author concludes that ITQs would be beneficial for the lake and that an implementation is possible in the long run.