South Africa's post-apartheid fisheries reform process has been guided by the principle qfsustainability. Although the reform process has signifiicantly transformed the ownership structure and profile of the country's fish sector, significant challenges remain. This article argues that these may be traced to the state's efforts to simultaneously try to achieve the goah; of economic, social and environmental sustainability. The new fishing regime has succeeded in securing the sustainability qf South Africa's fragile fishing resource and it has also improved the competitiveness of the fishing sector in a globalising economy. in securing the goals of sustainability and competitiveness the state has, however, compromised the goal of social sustainability, which in the South African context means providing access to fish resources to previously disadvantaged groups and individuals. This article explores the issue with reference to two specific fisheries, deep-sea bake and squid.