The Zambia Development Agency is looking for investors into fish farming on Lake Bangweulu (above). That’s one part of Zambia I have never visited, but by all reports and from photos, it is beautiful. Maybe I’ll get the chance one of these days! Anyway here’s the ad.
Bangweulu Investments Limited is a Zambian company whose principal shareholders are chiefs from eight chiefdoms. The company intends to establish cage fish farming along Lake Bangweulu in Luapula Province. The project will be undertaken in two phases at an estimated cost of US$1.8-million for the first phase, and US$5-million for the second phase. The preferable mode of financing is through a grant. However, other types of financing are welcome. The purpose of the project is to create employment and wealth for the communities.
Project location: The project location at Lake Bangweulu in Samfya District has easy access to domestic and export markets. Permanent water surface area of Lake Bangweulu is 3,000 square kilometres. Combined area of the lake and the wetland is 15,000 square kilometres.
Business model: The project is envisaged to have a total of 32 cages (approximately four cages in each Chiefdom). Estimated annual production at peak is 12,000MT
The current national demand of fish in Zambia stands at around 145,000MT per annum while the current national supply is estimated at about 85,000 giving a projected supply gap of about 60,000MT per annum. Demand for fish is strongly growing in Zambia in response to population growth (3.2% per year) and increasing urbanisation. It is estimated about 6,000 MT of fish is imported per year.
Demand is likely to increase as fish is the cheaper alternative source of protein for families in Zambia.
The population of fish has decreased across the country thus making cage fishing an attractive opportunity.
Interested investors are encouraged to respond to this opportunity.