Victory Farms publicizes US$5.8M growth of tilapia cage farming in Lake Victoria | Meals Enterprise Africa

KENYA – Aquaculture agency Victory Farms has unveiled plans for a considerable growth of its tilapia farming operations in Lake Victoria, with a finances of Sh750 million (US$5.8M).

Based on current regulatory filings, the challenge might be located in a brand new concession space close to Sindo in Homa Bay County. 

This growth goals to reinforce the corporate’s present sustainable cage farming operations and faucet into each the native and East African tilapia markets.

The transfer is available in response to the rising demand for recent tilapia amidst declining pure fish shares. 

Presently, fish cage farming is established in 5 counties round Lake Victoria—Migori, Siaya, Homa Bay, Busia, and Kisumu. 

Initially, fish cage farming was seen as a promising financial alternative for the Lake Victoria area whereas additionally serving to to protect depleting wild fish populations.

The floating cage expertise, launched in 2013 following profitable trials by the Kenya Marine and Fisheries Analysis Institute (KMFRI) at Dunga Seaside in Kisumu County, has since advanced into a significant sector. 

This information comes a couple of months after Victory Farms formalized its growth plans by signing a memorandum of understanding with the administration of seven native seashores, together with Jiw Dendi, Nyagwethe, Kisegi, Litare, and Uterere.

In February 2024, throughout the Second Homa Bay County Worldwide Funding Convention, Victory Farms additional solidified its dedication by signing an MoU with the county authorities. 

This settlement facilitates the institution of a brand new department on the Riwa Particular Financial Zone, devoted to fish feed processing and different aquaculture assist actions. 

President William Ruto, who officiated the convention, endorsed the challenge and granted Victory Farms’ founder, Joseph Rehmann, a license to start operations on the particular financial zone.

At the moment working from Rowo village in Suba sub-county, Victory Farms plans to spice up its fish manufacturing from 100,000 tonnes to 150,000 tonnes per yr, as said by the corporate’s Chief Growth Officer, Caeser Asiyo.