Mrs. Gladys Asmah, Minister for Fisheries has announced that the Ministry of Fisheries hs signed an agreement of a 40 million US dollar loan with its Chinese counterpart to begin a 2,000 hectare fish farming project on River Pra at Shama in the Western Region. It informed that a Memorandum of Understanding (MoU) has been signed between the Ministry and two Chinese companies, Chinese National Fisheries Corporation and Lu Ye Fisheries to secure the loan.
Asmah was speaking at the harvesting of the first aqua culture pilot project at Akyem Soabe in Kwaebibirem District over the weekend. She informed that under the MoU, a joint committee comprising representatives of the companies and the Ministry would be instituted to supervise the project that would provide employment for the youth.
Asmah told that the Ministry would assist the farmers with soft loans to be repaid within 12 months to construct ponds and supply of fingerlings. She informed that on the aqua culture project about 800,000 Ghana cedis had so far been spent including the training of about 400 farmers from Kumasi. She said that last year 95,000 fingerlings were supplied during the launching to the management of Kwabs Farms Limited at Akyem Soabe and was expected to realise about 200,000 Ghana cedis after harvesting.
According to Asmah fish farming is one of the most lucrative businesses that could be undertaken and urged the youth to get involved in fish farming and refrain from migrating to urban centres in search of non-existing jobs.
