Kisumu Youth Groups to Get Ksh1 Million Loans

More than 300 youths in Kisumu County are set to benefit from a new initiative, which will see them receive up to Ksh1 million in loans to start fish cage farming businesses.
The aquaculture programme is a partnership between the Youth Enterprise Development Fund (YEDF), Aquaculture Barn, and a local bank, and aims to address food security while empowering youths at the same time.
In a statement on Thursday, September 11, the Youth Fund confirmed that 21 youth groups have already been selected for the initiative, which will run in two cohorts.
Each cohort comprises 10 or 11 groups, with each group set to receive up to Ksh1 million in support to establish fish cages and rear fish.
After harvests, the youth groups will sell their produce, with part of the profits expected to go towards repaying the loans.
Not only will the initiative offer access to capital, but it will also provide end-to-end support to ensure long-term sustainability and profitability for the groups.
Kisumu-based innovation hub Aquaculture Barn is set to lead the training and mentorship component of the project, as the organisation specialises in building capacity among young fish farmers.
Amid concerns about food security and youth unemployment, the programme is seen as a viable model to combine agriculture and finance to empower youths.
Notably, cage aquaculture, a system of farming fish within a net or cage structure anchored in a natural body of water, is gaining popularity, particularly in the Lake Victoria region, for its efficiency and high returns.
Each cage unit can produce several tonnes of fish at a time, but the farming is dependent on proper training to ensure maximum yields.
The latest initiative aligns with the government’s broaderagricultural development goalsand comes months after another elaborate and ambitious plan to empower the youth by providing them with loans of up to Ksh5 million.
In March,a strategic collaboration between the Youth Enterprise Development Fund (YEDF)and the Hustler Fund saw disciplined young entrepreneurs who wish to further their economic status be offered the chance to access the huge loan.