Title: Optimal Management Policy for the Kenyan Marine Artisanal Fishery

An marine artisanal fishery under open-access regime was feared to be overexploited and unsustainable to declining catch per unit effort and increased fishing effort. A bioeconomic model on the fishery was developed based on Gomperz-Fox surplus production model (Fox, 1970) to analyse the fishery. The objective was to determine the optimal utilization policy and its benefits and the path and appropriate management system to drive the fishery to the optimality. The analysis indicated the fishery exploitation was lower than maximum sustainable yield (MSY) level and thus sustainable though at sub-optimum. The optimum sustainable policy was at maximum economic yield (MEY) level, which was lower than the MSY. The current fishing effort was causing dissipation of the fisheries rent. The fishery can generate over 30% more profit than currently is, by reducing the current effort by 36%. An optimum dynamic adjustment path for the fishery to the long run sustainable fishery was developed that was more efficient with high present value of profits. Its implementation was considered drastic to the fishing community and fishery-linked industries that are likely not able to adjust quickly to the change. A moderate path considered more acceptable but with 8.6% loss in PV. A property right management system was recommended, with allocation of quota to the fishermen through the existing community-based fisheries management system for its administration.