The company also plans to set up a fish food processing plant at a cost of US$1.2 million because there are few companies in the country which are providing the products, reports ZambiaDailyMail.
Yalelo executive chairperson Fisho Mwale says the fish processing plant is expected to be processing the fish fillets and tinned fish among others from the company’s fish cages on Lake Kariba rather than selling whole fish.
Mr Mwale says there are a lot of opportunities in the aquaculture sector though it is labour intensive.
“In the next three years, we plan to set up a fish processing plant and fish food processing plant in Siavonga at a cost of US$3 million and US$1.2 million respectively to off set the current fish deficit in the country,” he said.
He said Zambia has the potential to be the food basket for the region for protein in terms of fish.
Mr Mwale said there is need for more investment in the fishing industry by investors because it has the capacity to provide the country with food security.
He appealed to the government to re-focus and start investing in the development of the fish industry.
Yalelo Limited an aquaculture firm plans to construct floating cages on Lake Kariba to increase local production of fish.
The project will assist in diversifying the Zambian economy and is expected to create about 260 jobs for the locals.
Zambia currently produces 85,000 tonnes of fish per year against an estimated demand of 145,000 tonnes about 6,000 tonnes of fish is being imported annually from China, India and Zimbabwe.
