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Cameroon fishes for finance

Cameroon fishes for finance

Cameroon is establishing 300 small fish-farming enterprises at a cost of $3.3m through its Aquaculture Entrepreneurship Promotion Project.

To finance the project, Cameroon has signed an agreement with the United Nations International Fund for Agricultural Development for a contribution of $1m. The government will fund the balance.

The project is hoped to generate 1,500 jobs with 30% of the new enterprises to be managed by women and 50% by young people.

As it stands, fish production does not meet domestic demand and Cameroon imports 200,000 tonnes of fish a year.

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Written by African Business Magazine

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