Youth group targets 127m/- revenue from fish farming

MWANZA: A YOUTH group in Mwanza Region is targeting revenue of more than 127m/- from cage fish farming on Lake Victoria, in a project financed through the government’s 200bn/- youth financing programme.

Kitwima Youth Group, comprising seven graduates, received a 106m/- loan to establish the fish-farming project in Nyamagana District, with members expecting to harvest 15 tonnes of fish from six cages after six to seven months of operation.

Speaking during a fish-harvesting ceremony for the group yesterday in Mwanza, Deputy Permanent Secretary in the President’s Office responsible for Youth Development, Mr Kedmon Mapana, commended the members for using the financing to establish a productive business.

“This group’s progress demonstrated how access to capital could help young people create employment, generate income and improve their livelihoods,” he said.

Mr Mapana encouraged the members to expand their operations by increasing the number of cages from six to between 10 and 20 in the next phase.

He also supported the group’s plan to acquire a modern boat to strengthen its operations, advising members to consider applying for additional financing after repaying their existing loan.

The Deputy Permanent Secretary further called on young people to register with the Youth Empowerment System (YES), saying it helps the government identify their locations, education levels, skills and economic activities.

“The system is beneficial to young people because it enables us to know where they are, what they do, and their education and skills. I urge young people to register now,” he said.

Mr Mapana said the government had opened the second window of its youth financing programme, providing further opportunities for young people to access loans and establish businesses.

He commended Kitwima Youth Group for its plans to repay the loan on time, noting that timely repayment would enable other young people to access similar financing.

Assistant Director for Aquatic Organism Development in the Freshwater Unit at the Ministry of Livestock and Fisheries, Mr Yohana Mirumbe, said the project demonstrated the potential of the blue economy to create economic opportunities for young people.

“These results are not only an economic achievement for our young people but also proof that the blue economy has a unique role in transforming their lives,” he said.

ALSO READ: Tanzania pushes for modernized cage fish farming around Lake Victoria

Mwanza Regional Youth Development Officer, Ms Diana Francis, who represented the Regional Administrative Secretary, commended the government and CRDB Bank for supporting the project.

She encouraged young people to participate in youth forums to obtain information about available government loans and other support programmes.

CRDB Bank Foundation Head of Small Business and Empowerment, Mr Fadhili Bushagana, said the foundation continued to provide financial literacy training and capital to help young people establish and expand their businesses.

He said the group’s experience demonstrated how financing, combined with proper management, could support youth entrepreneurship.

Kitwima Youth Group Secretary, Mr Bung’e Kwaangw, said the group was established by graduates seeking economic opportunities amid unemployment challenges.

He said the members intended to develop their fish farm into a model training centre for young people and fish farmers, with the long-term ambition of establishing a centre of excellence in modern fish farming in Tanzania.

“Through practical training, innovation, technology and effective production management, the farm will serve as a learning centre and promote sustainable fish-farming practices,” he said.