KENYA – Aquaculture firm Victory Farms has unveiled plans for a substantial expansion of its tilapia farming operations in Lake Victoria, with a budget of Sh750 million (US$5.8M).
According to recent regulatory filings, the project will be situated in a new concession area near Sindo in Homa Bay County.
This expansion aims to enhance the company’s current sustainable cage farming operations and tap into both the local and East African tilapia markets.
The move comes in response to the growing demand for fresh tilapia amidst declining natural fish stocks.
Presently, fish cage farming is established in five counties around Lake Victoria—Migori, Siaya, Homa Bay, Busia, and Kisumu.
Initially, fish cage farming was seen as a promising economic opportunity for the Lake Victoria region while also helping to preserve depleting wild fish populations.
The floating cage technology, introduced in 2013 following successful trials by the Kenya Marine and Fisheries Research Institute (KMFRI) at Dunga Beach in Kisumu County, has since evolved into a vital sector.
This news comes a few months after Victory Farms formalized its expansion plans by signing a memorandum of understanding with the management of seven local beaches, including Jiw Dendi, Nyagwethe, Kisegi, Litare, and Uterere.
In February 2024, during the Second Homa Bay County International Investment Conference, Victory Farms further solidified its commitment by signing an MoU with the county government.
This agreement facilitates the establishment of a new branch at the Riwa Special Economic Zone, dedicated to fish feed processing and other aquaculture support activities.
President William Ruto, who officiated the conference, endorsed the project and granted Victory Farms’ founder, Joseph Rehmann, a license to commence operations at the special economic zone.
Currently operating from Rowo village in Suba sub-county, Victory Farms plans to boost its fish production from 100,000 tonnes to 150,000 tonnes per year, as stated by the company’s Chief Development Officer, Caeser Asiyo.
