127,000 tones of Fish Production by 2024 Victory Farms – a Kenyan Tilapia Fish Breeding Firm Investment to be expanded to Rwanda
By Abdul Rahman Bangura-
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- There remains only one year to reach the target yet the country has not even produced half of the projected demand, a situation that has left officials scratching their heads for major interventions.
Solange Uwituze, the Deputy Director-General of Animal Research and Technology Transfer at Rwanda Agricultural Board (RAB) – Solange Uwituze said: “It presents therefore a great opportunity for investment for anyone interested including Victory Farms.”
Uwituze said that aquaculture is a thriving sector in Rwanda with a subsidy of 10% to the national fish production, strengthening that, it is targeted to be navigated by the Private Sector for it to be the fundamental basis of fish production.
“As of today, the average national fish production is 39,400 tones per year of which 10% is from fish farming. We want that the production from fish farming increases even higher than production from fish capture so that total national fish production hits 127,000 tones of fish per year in 2024,” she announced.
However, it’s obvious that Victory Farms – East Africa’s biggest marketable fish farmer, has raised $5 million in capital allotment to improve its undertakings into Rwanda, Tanzania and DR Congo.
The startup has discerned considerable development since its founding in 2014, it now has 600 employees, over 55 branches in Kenya, and generated $17 million in dividend in 2021. It is targeting a 15 folds growth in the next five-to-six years.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent