LAKE FARMS AND FISHING LODGE LIMITED
Lake Farms is a socially conscious aquaculture company that is transforming local fishing communities located along the shores of Lake Kariba. The company works with fishermen and women fish traders so as to build better communities, create sustainable businesses and end endemic poverty. Lake Farms works hard to promote and implement the Sustainable Development Goals (SDGs) in its extensive operations. Small-scale (artisanal) fisheries in Zambia play an important role in income generation and food security at the household level. This sector has the potential to significantly increase its contribution to household income and food security.
Market Opportunity/ Problem
Lake Farms is addressing three problems: 1. Lack of processing and packaging facilities that would preserve the quality attribute of Nile Tilapia and Crayfish immediately after removal from water. 2. Lack of large fishing boats and modern fishing gear for fishermen to travel on the lake. 3. Lack of opportunities for women to engage in gainful businesses. Lake Farms is solving these challenges by working closely with an aquaculture co-operative based in Siavonga and Sinazongwe districts, respectively, whose 1,000+ members supply the company with Crayfish and Nile Tilapia on a daily basis. In exchange, Lake Farms supplies the fishermen with boats, traps and life jackets. Lake Farms also sells Nile Tilapia that it harvests from the cages to women fish traders at a reduced price. The women sell the tilapia to their customers and use the money earned to buy groceries, pay school fees and hospital bills.
Years of operation
Type of organization
Stage of the business
Agriculture value chain(s) focus?
Primary country of operation
Other country(ies) of operation
How many employees does your business have?
Does the business have more than 30% women ownership?
Does the business have more than 30% youth ownership (under 35 years)?
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
What is the split between equity and debt?