Chisamba farmer plans to set up fin­ger­ling project

Daily Nation Newspaper - - BUSINESS WORLD - By BUUMBA CHIMBULU

A US$500, 000 fin­ger­ling project with a ca­pac­ity of har­vest­ing 4 mil­lion fish is ex­pected to be set up next year by Wangwa Farms, a pri­vately-owned ranch in Chisamba in a bid as­sist in re­duc­ing fin­ger­ling ex­ports.

Wangwa Farms man­ag­ing di­rec­tor, Peter Luyt, said in an in­ter­view at his ranch in Chisamba that the in­vest­ment would as­sist small-scale farm­ers by pro­vid­ing nec­es­sary in­for­ma­tion on how to man­age such a ven­ture while re­duc­ing the fin­ger­ling ex­ports.

“The project is just start­ing now so it will be in­tro­duced by end of next year. In the mean­time, we buy fin­ger­lings out­side the coun­try, so from now on­wards, we will be stock­ing our own and sell­ing to small-scale farm­ers. The ca­pac­ity of the project will be 4 mil­lion,” Mr Luyt said.

Mr. Luyt said Wangwa Farms had em­barked on many projects such as the one for fin­ger­lings as a way to em­pow­er­ing small-scale farm­ers while cre­at­ing em­ploy­ment.

He, how­ever, said these projects needed fund­ing as ac­cess­ing money was cur­rently dif­fi­cult ow­ing to high in­ter­est rates on the fi­nan­cial mar­ket.

“This level of farm­ing and in­vest­ment needs fund­ing. It needs cheaper money which is cur­rently not avail­able on the money mar­ket,” Mr Luyt said.

He lamented that the high cost of money had im­pacted neg­a­tively on the ex­pan­sion of the projects, not only at his farms, but in Zam­bia as a whole.

Mr. Luyt said they are scout­ing for US$26.5 mil­lion for its ex­pan­sion as it was work­ing to in­tro­duce new projects.

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