adminTHE African Development Bank is funding a fish project in Kariba which will create more than 900 permanent jobs by 2015 and contribute an estimated $33 million in Government revenue over the next 10 years.
The fish farming project was launched last year after an initial investment of $8 million to finance an agro-industrial project that could assist the fragile economy of the country.
The Lake Harvest Aquaculture project on Lake Kariba is also the largest sustainable Tilapia fish farming in Africa.
“Lake Harvest is expected to generate more than 900 new high-quality permanent jobs by 2015, and will contribute an estimated $33 million at present value terms, in Government revenue over the next 10 years” the AfDB said in a recent update.
The project, which is targeting the African market, will also assist in the enhancement of food security, foreign exchange generation and increasing Government revenue.
Lake Harvest Aquaculture is part of the AfDB’s selective re-engagement with Zimbabwe.
“The AfDB Group invested $8 million to finance a viable agro-industrial project in a fragile state. This will be the AfDB Group’s first private sector investment in Zimbabwe, as part of its efforts to selectively re-engage in the country.”
According to the bank, women would sell the fish as a way to empower them through the money making venture.
Lake Harvest Aquaculture is estimated to produce 20 000 tones of fish annually with Zimbabwe expected to absorb 37 percent of the production. A further 50 percent will be exported to markets in the southern African region.
The total fish consumption of major regional southern African markets of Zambia, South Africa, the Democratic Republic of Congo, Malawi and Angola is 1,3 million tonnes while total unmet demand for tilapia in these markets is 100 000 tones per year. – New Ziana
Online Reporter