The Aquaculture Seed Fund has through the Citizens Economic Empowerment Commission –CEEC received 23, 284 applications from citizens for business loans.
Speaking at a press briefing held in Lusaka on June 27, 2019, Ministry of Fisheries and Livestock Minister, Kampamba Mulenga-Chewe, revealed that citizens were being supported to implement aquaculture projects that will increase fish production and eliminate the deficit in national fish production over the next four years.
She said the investments citizens will be empowered to embark on will also include fish processing and marketing, which will greatly contribute to rural industrialization, economic diversification and job creation in all the ten provinces of the country.
Mulenga-Chewe disclosed that the Ministry of Fisheries and Livestock has established the Aquaculture Seed Fund with support from the African Development Bank and K440 million (Four Hundred and Forty Million Kwacha) has been set aside for business loans to benefit about 2,900 micro, small and medium size enterprises.
The Fisheries minister added that at least 50% of the supported projects will go to women, while 30% will go to youths and more than 12,000 jobs are expected to be created in the rural areas.
“This is in line with the Seventh National Development Plan were it is an objective that the annual deficit of 85,000 metric tonnes in fish production should be urgently reversed and that Zambia should instead be transformed into a net exporter of fish and fish products”, the Minister said.
And speaking at the same event, CEEC director general, Likando Mukumbuta stated that CEEC would, following the extraordinary response from citizens, evaluate the applications and undertake necessary site visits as expeditiously as possible so that disbursement of business loans could start by September 2019.
The Aquaculture Seed Fund is a component of the Zambia Aquaculture Enterprise Development Project being implemented by the Ministry of fisheries and Livestock in partnership with CEEC as Fund Manager.
There is an appeal from cross sections of society that the award of the loans should be made on merit if this project is to realize any tangible benefits for the country. Zambia today is self sufficient in poultry production not because of establishing a poultry fund, but because of a combination of suitable market conditions, import controls and a regulatory regime that allow for citizens to engage in profitable poultry farming.
