Kitwima Youth Group in Nyamagana District is targeting revenue exceeding 127m/- from cage fish farming on Lake Victoria, using financing from the government's 200bn/- youth financing programme. The seven graduates received a 106m/- loan to establish the project, with members expecting to harvest 15 tonnes of fish from six cages after six to seven months of operation, according to a fish-harvesting ceremony held yesterday in Mwanza.
The Deputy Permanent Secretary in the President's Office responsible for Youth Development, Kedmon Mapana, commended the group's use of capital to establish a productive business. "This group's progress demonstrated how access to capital could help young people create employment, generate income and improve their livelihoods," he said. Mr Mapana encouraged the members to expand their operations by increasing the number of cages from six to between 10 and 20 in the next phase, and supported their plan to acquire a modern boat to strengthen operations.
Mr Mapana called on young people to register with the Youth Empowerment System (YES), saying it helps the government identify their locations, education levels, skills and economic activities. He noted that the government had opened the second window of its youth financing programme, providing further opportunities for young people to access loans and establish businesses. The Deputy Permanent Secretary commended Kitwima Youth Group for its plans to repay the loan on time, stating that timely repayment would enable other young people to access similar financing.
The Assistant Director for Aquatic Organism Development in the Freshwater Unit at the Ministry of Livestock and Fisheries, Yohana Mirumbe, said the project demonstrated the potential of the blue economy to create economic opportunities for young people. "These results are not only an economic achievement for our young people but also proof that the blue economy has a unique role in transforming their lives," he said.
Kitwima Youth Group Secretary Bung'e Kwaangw said the group was established by graduates seeking economic opportunities amid unemployment challenges. He said the members intended to develop their fish farm into a model training centre for young people and fish farmers, with the long-term ambition of establishing a centre of excellence in modern fish farming in Tanzania. CRDB Bank Foundation Head of Small Business and Empowerment, Fadhili Bushagana, said the foundation continued to provide financial literacy training and capital to help young people establish and expand their businesses.