Aquaculture is a fast-growing food production sector in Zambia and currently continues to grow. As a result, aquaculture is a promising tool to increase fish production and reduce poverty while at the same time achieve greater social equality and drive economic growth. The government of the Republic of Zambia has taken great interest and through various institutions is aimed at providing low-cost loans to small scale farmers. Citizenship Economic Empowerment Commission (CEEC) is one of the institutions that provides such a facility under the Aquaculture Seed fund which was has been rolled out across all the ten provinces in 2018.
The undertaking was done through the collection of both qualitative and quantitative data from scale farmers in the Luanshya District of the Copperbelt Province who have received funding from CEEC to cover investment, operating costs as well as other services. The study reveals that there is very high awareness of the funding opportunity by small scale farmers across the country.. However framers who are selected for funding do not receive their disbursements on time which is a major constraint to the growth and development in the aquaculture and fisheries sector. The study also reveals that there is a rigid model for small scale farmers to abide by when they are selected for funding which is very impractical for many small scale fish farmers. It was also revealed that numerous loan applicants lack knowledge in fish farming and are doing it for the first time. As a result of these factors, there is very low yield attained in the production of fish contrary to the aim of the funding facility.
The study recommends that personal interviews are done before the selection of loan beneficiaries. In addition to this, systems and structures to be put in place to ensure finances are disbursed in good time and proposed. In addition, efforts of the funding initiative aimed at creating strong linkages between the small scale fish farmers funding institutions and understanding farmers’ needs at different points are also given. Lastly the study recommends the creation of strong farming groups and practical training for small scale fish farmers in financial and project management.