LREB PARTNERSHIP AIMS AT EXPLORING OPPORTUNITIES IN AGRI-BUSINESS, BLUE ECONOMY RESOURCES IN THE REGION
The partnership between Kenya National Chamber of Commerce and Industry (KNCCI) and the Lake Region Economic Bloc (LREB) is aimed at exploring opportunities in Agri-business and blue economy that abound in the region.
Panelists who made their contributions during the LREB private sector forum at Busia Vocational Training Centre on Thursday were in concurrence that resources abound in the bloc had not been fully exploited.
Director Kenya Marine Fisheries Research Institute, Dr Kevin Obiero said Lake Victoria used to produce 180,000 metric tons of fish per annum but it has dropped to 90 metric tons which calls for concerted efforts to reverse the trend.
“Kenya’s annual fish demand is 500,000 metric tons but the low fish production has forced the country to import fish from china to bridge the gap, which is a worrying trend considering the great potential the country has of owning the large fresh water lake in Africa,” he said.
However, Dr Obiero noted that there over 6,000 cages installed in the Lake with estimated 10,000 metric tons of fish, emphasising that Maseno university is also supporting aquaculture.
Dr Obiero said the varsity has also introduced Biofloc technology, a Blue-cycling system for enhanced fish production and Finger pond technology for turning flood menace to economic gain.
He revealed that Busia County has graduated into leading fish handler with a daily export of 4 metric tons per day to the Democratic Republic of Congo, adding the county has also constructed a Ksh60million trans-shipment market with cold storage facilities.
Dr. Zachariah Shitole from Eldoret Technical University said training and capacity building in regard to Blue Economy is crucial to the realization of the region’s economic potential.
LREB Secretary, Israel Agina revealed that Nyeri is the leading exporter of fish courtesy of fish ponds compared the LREB with the largest fresh water lake in Africa but it cannot exploit on availability of resources.
Busia Women cross border traders chairperson, Florence Atieno said their group that started in 2001 with a membership of 20 has improved the lifestyle of women after transforming it into a sacco in 2017, urging financial institutions to lower interest rates to empower them economically.
Executive and Head, Business and Commercial Clients at Stanbic Bank, Florence Wanja urged residents of LREB to take advantage of the Blue Economy and access loans at affordable rates instead of relying on traditional agriculture.
She also urged SMEs to invest in capacity building, have access to markets, reap on economies of scale, obtain insurance for their crops cold stororage for fish.
~ Olita Reuben, Busia County Communications Depart.~
