News last update:14 Jan 2016

New fish factory to provide employment in Zambian village

The setting up of an aquaculture factory, estimated US$2.5 million has been approved by Siavonga residents in Zambia.

Chief Simamba of the Tonga people in Siavonga says the project will improve the face of Siavonga and provide employment for the residents.

Chief Simamba called on the investors in the area to give priority to the local people when employing, adding that the people will monitor the progress of the project and ensure that the firm implements what it has promised.

The project, to be developed on Lake Kariba and Kamibi fishing area in Siavonga is expected to positively contribute to the socio-economical development of the district and the country as a whole.

The project is being developed by the Yalelo Limited a local firm, which has secured funds from an international impact investment fund and Liongale venture fund ISPC who own 90% of the company while the remaining 10% is owned by Zambians.

The company will also be buying maize and soya beans from the local farmers because it will need it for the fish feed processing plant it plans to set up.

The firm will provide training to the small scale fish farmers with the new methodologies of fish farming.


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