BOOST FOR FISH FARMING IN EA AS 10bn EUROS PROJECT IS LAUNCHED

 

Fish farming received a major boost on Monday this week following the launching of a 10.1million Euros project on Lake Victoria. 

The five year drive aims to promote aquaculture in the East African Community (EAC) region in the wake of declining fish stocks in the lakes and sea. 

The project named True Fish, the project is also intended to remove impediments facing investors keen to inject their cash in the sector.

"The other objective is to identify threats which could undermine the sustainability of aquaculture development", said Peter Mathuki, the EAC secretary general.

He said when unveiling the project at the EAC headquarters that despite huge potential the fisheries industry was facing a host of challenges.

These are more pronounced in the Lake Victoria basin in the form of  declining stocks of Nile Perch and tilapia, fish diseases and rising water levels. 

Potential investors in the sector had to contend with lack of investment finance, technical skills and incomplete networks. 

The project is to be funded by the European Union (EU) under the European Development Fund (EDF) Regional Indicative Project. 

The EU contribution is 10million Euros while 150,000 Euros is co-financed by potential grant beneficiaries. 

The Lake Victoria Fisheries Organization (LVFO), an organization of the EAC, will coordinate the project implementation. 

LVBC executive director Prof. Shigalla Mahongo said the project has been initiated because traditional fishing can no longer sustain the growing population. 

"Demand for fish had increased considerably due to increased population, income and urbanization", he said. 

The human population of the entire EAC region was only 23.5 million in 1954 when Nile Perch was introduced in Lake Victoria. 

By 2018 when the aquaculture project was mulled it had climbed up to 165.5million people to feed.

"Therefore, the capture fisheries of Nile Perch and tilapia are no longer able to satisfy the rising population", he pointed out. 

According to Prof. Mahongo, fish farming in the EAC region was still "at an infancy stage", accounting for approximately seven to eight percent of fish consumption.