AgroFish PLC is a fish farm operator and service and product provider, running the first commercial fish farm in Ethiopia. It will operate as model farm for integrated farming based on most advanced knowledge and technology (e.g. aquaponics system, soil water treatment, filtered water used as natural fertilizer of plants, food-transport insulation boxes).
Agro-Fish Plc is seeking to raise seed money in the amount of €760,000 to set up and operate a fish farm. Out of this, €80,000 will be earmarked to finalize the feasibility study and pay 6 months of breeding expert time.
An area of land of about 20 ha has been acquired by the company’s partners for a 25-years lease, of which 1.7 ha is set aside as a natural reserve of rare species. The land has been cleared, pathways and roads have been constructed, a farm house erected on it and Agro-Fish has signed a cooperation agreement with land owners. A lake water use license has also been obtained for a period of 5 years.
To start farming on the land, an amount of €29,000 is needed immediately for a limited activity or of $62,000 for planting the entire land area. A 6 ha of land is assigned to cultivate Aloe-Vera, medicinal herbs, papaya and bananas. On about 11 ha, the company also plans to farm short-season crops, such as tomatoes, potatoes and onions.
The fish-farm will be set up in 4 steps, starting with 24 traditional ponds and fish population density of 3.2 tilapia per cubic meter. Then half of the ponds will be converted to a higher density of 6-8 tilapia per cubic meter, along with the introduction of equipment and related processes.