Business

$480,000 set to establish fish farm, reduce deficit

TRYNESS TEMBO, Lusaka
LUANGWA Bridge Fish Farm Limited has set aside US$480,000 to establish a fish farm that will contribute to overall national production and reduce the deficit.

Currently, Zambia’s fish deficit stands at 85,000 metric tonnes, with the country producing 80,000 tonnes from rivers and lakes; and 20,000 tonnes from aquaculture, altogether making 100,000 tonnes in total.

The objective of the project is to establish a fish farm that will produce fingerlings and supply fish to the local market.
According to an environmental impact assessment (EIA) report submitted to the Zambia Environmental Management Agency (ZEMA), the firm will create over 80 jobs for the locals and produce about 100 tonnes of fish annually.
“Luangwa Bridge Fish Farm Limited intends to put up its investment in fish farming. Exploiting the potential will enable the company to contribute to increased overall national production level of fish to meet demand at national and regional levels.
“The company is committed to ensuring that local and international legal requirements are adhered to and communities in the area where the firm operates benefit from the investment,” the report reads.
The report also says the company will be breeding tilapia and African catfish.
Under the project, the firm will establish a fish hatchery, digging earth ponds for breeding and growing fish.
The hatchery will also be used for producing fingerlings both for sale and growing-out in the farm ponds.
“There is no such investment in Luangwa and the project will result in the development of the area. There is high demand for fish in the country and the region, therefore, the project is in line with Government’s aim of diversifying the economy, which is mostly dominated by copper,” the report reads.
During implementation, there will be construction of earth ponds for raising fish, and other support infrastructure such as offices, houses and workshops will be erected on site.

 

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