CEEC acquires US$29m loan for aquaculture development

By Staff Reporter

 

The Citizens Economic Empowerment Commission has acquired a US$29 million  loan from the African Development Bank to support aquaculture projects in the country.

CEEC Director General Likando Mukumbuta on Sunday said that the commission expected to start disbursing aquaculture seed funds this year.

“The ministry of fisheries and Livestock has partnered with the commission in an effort to manage the aquaculture seed fund,” he said.

He disclosed that the project was one of the biggest investments in Africa and would help transform the aquaculture industry in the country with increased production from 20,000 tonnes to about 30,000 tonnes.

Mukumbuta further said that the commission would support aquaculture value chain projects in 35 districts in the country.

 

Leave a comment