A fish farm set up two years ago by Gerald Kyalimpa at Buikwe near Jinja, Uganda, has finally enjoyed its first successful harvests. Gerald, an Afrinspire Young Entrepreneur, had the idea to start the farm and requested funding in 2017. It took a lot longer to grow the fish than Gerald at first expected. But now they are able to show off the large fish which are ready for sale. In November 2018, 450 catfish were caught and sold to local people and fish companies in Jinja, making 6,750,000 Ugandan shillings. (approximately £1,400). January 2019 was even more successful when Gerald and his partners harvested 1,600 Tilapia fish, which resulted in a total of 12,800,000 shillings. (£2,650). But they had costs to be met. Their total annual profit was 9,950,000, which is about £2060 - an impressive achievement.
Gerald has no plans to stop there. His report explains how he plans to expand the business to make it even more profitable. He has dug a second fish pond which he and his partners will use to grade the fish according to size, age and species.
He also plans to reinvest the money he has made. Having learnt from the issues he experienced with the tilapia fish, which meant they cost more to produce than anticipated, he has decided to order 10,000 more catfish, as they grow faster, are easier to feed and are more profitable.
Taking the initiative, Gerald has enrolled for lessons in Fish Hatching at Entebbe Uganda Fisheries. This is so that his growing business can save on the cost of young fish by hatching their own baby fish. They'll also be able to increase their income by selling young fish.
Gerald writes: 'Thank you AFRINSPIRE for the great opportunity you have extended to us, Uganda and Africa as a whole. Step by step together we grow.'
We look forward to more news of Gerald's progress on this project!