Lake Malawi Commercial Cage Farming

PROJECT DESCRIPTION:

The company running the project aims to produce 1,000 tons of farmed fish in the first year, then scale up production to 4,000 tons within three years for the domestic, regional and international markets. The project will also produce fingerlings for the company’s own use and for sale to other fish farmers.

The species to be cultured are Oreochromis karongae (Chambo) and Bagrus meridionalis (Kampango catfish). Fingerlings will be produced in hatcheries using selective breeding techniques while outgrowing will take place in cages in the lake.

PROJECT LOCATION:

Senga Bay, Salima

LEAD AGENCY/ PROJECT PROMOTER:

Lake Malawi Aquaculture Limited

CURRENT STATUS/ STAGE OF PROJECT:

Non-operational

ACTIONS REQUIRED/ IMPLEMENTATION ARRANGEMENTS/ CONTRACT TYPE:

Expressions of Interest are invited for promoters who can provide debt capital of USD 3.3 million.

AVAILABILITY OF PRE-FEASIBILITY STUDIES, FEASIBILITY STUDIES, AND OTHER STUDIES:

A comprehensive feasibility study, business plan, environmental impact assessment, aquaculture licence, permit for surface water extraction and land have all been acquired.

ESTIMATED COST OF THE PROJECT:

USD 8,818,154