Fisheries and Livestock Minister Nkandu Luo has launched the Fisheries and Aquaculture Development Fund.
This follows a directive by President Edgar Lungu to the ministry to establish a fund that will allow all players in the fisheries sector quickly access resources to grow the fisheries industry.
Speaking during the launch of the fund, Professor Luo said it will allow various players in the fisheries value chain access timely funds to develop the fisheries and aquaculture sub sector.
She added that the fund will facilitate a community-based approach to fisheries management and development and also enhance fisheries and aquaculture research by the public and private sector.
Professor Luo disclosed that part of the money for the fund will be sourced from fishing and aquaculture licenses and other fees as well as proceeds from the Aquaculture Seed Fund under the Zambia Aquaculture Enterprise Development Project.
The establishment and operationalisation of the Fisheries and Aquaculture Development Fund is provided for in the Fisheries Act Number 22 of 2011.