8/14/2015

Aquaculture:Teachamantofishfarm...|SouthernAfrica

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FRI, 14 AUG 2015

PostedonFriday,05December201416:55

Aquaculture:Teachamantofishfarm...
ByFrankChikoworeinKaribaandCharlieHamilton
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LAKEHARVESTCOVERSMORETHAN1,000HAONKARIBASEASTSHORE.PHOTOJOHNCASSIM

TheAfricaR
258klikes

TheLakeHarvestprojectinKaribahasattractedmuchneededinvestmenttoZimbabweandisshowing
othershowtoimplementsustainablepractices.
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AZimbabweanfishfarmingprojectthatbeganlifein1999producinglessthan2,500tnoftilapiaperyearhasgrown
tobecomeoneofSouthernAfrica'sprincipalfishproducersandamodelforsustainabledevelopment.

Bethefirstofyourfriendstolike
this

With a staff of some 800 people, the Lake Harvest

Aquaculture project on the eastern shores of Lake
Kariba is now the largest sustainable fish farm in
Africa and has rapidly become a crucial lynchpin of
thelocaleconomy.

Wedoitillegallybecauseitdoes
notmakeanybusinesssenseto
getfishinglicencesandcompete

Thefacilityspansmorethan1,000haincludingareasdedicatedtofishrearing,feedingandprocessing,andthereare
planstoexpandthesitetoaround1,200haby2015.
TheprojectisownedbyAfricanCenturyGroup,aninvestmentcompanybasedinMauritiusthatworkspredominantly
inthefood,propertyandfinancialservicessectors.
Its ownership structure has led to concerns that the company may fall foul of indigenisation regulations these

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Aquaculture:Teachamantofishfarm...|SouthernAfrica

stipulatethatallforeignownedfirmsmustcedeatleast51%oftheirshareholdingtoZimbabweans.
StafffromtheLakeHarvestAquacultureprojectdeclinedtomakeaformalcommenttoTheAfricaReport.
LocatedtotheeastoftheKaribaDamwall,theproject,whichbeganonasmallscale,tookoffafterbeinggrantedan
$8mloanfromtheAfricanDevelopmentBank(AfDB)in2011.
Thecapitalinjectionallowedthecompanytogrowrapidly.Itnowproducessome10,000tnoffishperyear,whileitis
projectedtocontributearound$33mingovernmentrevenueby2023,accordingtotheAfDB.

Flyingfish
Around 37% of annual production goes to the Zimbabwean market, with around 50% exported to the region:
Zambia,Malawi,Angola,SouthAfricaandDRC.
Around13%goestoEurope,providingmuchneededforeignexchangerevenue.
AccordingtotheAfDB,thetotalpotentialdemandfortilapiainregionalmarketsis100,000tnperyear,suggesting
thereisplentyofgrowthpotentialfortheindustry.
SoaringdemandhasdriventhefirmtoexpandbeyondKariba,reportedamanageratthefarmontheconditionof
anonymity.
"WehavenowsetupadepotinHarare,andwearealsoexportingtoothercountriesasthedemandforourproduct
isgrowingeveryday,inandoutsideZimbabwe,"heexplained.

Jobsforwomen
The project is the AfDB's first such privatesector investment in Zimbabwe and is part of the bank's tentative re
engagementwiththecountryafterdecadesofsoaringinflationanddebtarrearscooledinvestors'appetites.
The project received $12m in additional investment from a host of other international development finance
institutions.
Theprojectisalsopraisedforthegenderbalanceofemployees.
Some42%oftheadministrationandfishprocessingstaffarewomen,accordingto2011datafromtheAfDB.
Thefishfarmisduetoemploy900peoplebynextyear.
Inadditiontothedirectemploymenttheprojecthasgenerated,thereisalsoathrivingindustryoftertiaryservices
suchasfuelsuppliers,feedtransportersandlogisticscompaniesthathassprunguparoundKariba,atownofsome
20,000people.
However,theneedtocomplywithinternationalfoodstandardregulationsthatenableprofitableexportshasdriven
upthepriceoffishbeyondthereachofmanylocals.
Thereisalucrativetradeinillegallyprocuredfish.
"Weareleftwithnochoicebuttoconcentrateonkapentafishharvestingandanyotherfishthatisnottilapia.
"Wedoitillegallybecauseitdoesnotmakeanybusinesssensetogetfishinglicencesandcompetewithestablished
companieslikeLakeHarvestthathavehugefinancialbacking,"saysLloydFaraiGumbo,afisherman.

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