Chisamba farmer plans to set up fingerling project
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.