Kisumu County and Equity Bank launch financial platform for fisheries sector
The national government has in recent times intensified efforts to harness the blue economy by investing heavily in infrastructure around Lake Victoria
Kisumu County has embarked on developing the fisheries sector in the region through strategic partnerships with the aim of building capacity and empowering the fishing communities.
Speaking during the launch of Aquafedha, an innovative financial platform backed by Equity Bank in Kisumu, Deputy Governor Dr Mathew Owili said the county government is keen on unlocking of untapped opportunities within the fishing value chain and blue economy as a whole to ensure growth.
“The fisheries sector remains a critical driver of economic growth in Kisumu County. Our administration has taken bold steps to support the fisheries sub-sector by recruiting additional fisheries extension officers and investing in ice flake-making machines that will significantly extend the shelf life of perishable products. I extend my sincere gratitude to Aquarech and Equity Bank for their remarkable investment in support of our fishing communities,” he said.
“To supplement these efforts, our administration has taken bold steps to support the fisheries sub-sector by recruiting additional fisheries extension officers and investing in ice flake-making machines that will significantly extend the shelf life of perishable products.”
Also present were Agriculture CEC Kenneth Onyango, Equity Bank Associate Director for Women and Youth Banking Silpah Owich and Aquarech CEO Dave Okech, among others.
The national government has in recent times intensified efforts to harness the blue economy by investing heavily in infrastructure around Lake Victoria.
The flagship projects are the Ksh 2.5 billion Kabonyo Kanyagwal Fisheries Centre of Excellence Project and the Ksh 1.5 billion allocated for the construction of fish landing sites along the lake’s shores. These initiatives aim to boost fish production, improve livelihoods, and promote sustainable exploitation of aquatic resources.
The State Department for Cooperatives and Micro Small and Medium Enterprises (MSME), has already rolled out a campaign to rally the fisher folk to join the cooperative movement. The goal is to ensure that all the Beach Management Units (BMUs) are converted into Cooperatives so that they are organized to attract investors and wider markets globally.
Strategic investments in Lake Victoria’s fisheries sector mark a major step toward unlocking the full potential of the blue economy, creating jobs, and ensuring sustainable fish production for the future.
