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The Economic and Financial value of the Lake Victoria Fisheries revealed today

Dar Es Salaam 29th March 2018 – The Lake Victoria Fisheries Organization (LVFO) in collaboration with the IOC Smartfish released the first phase of the Economic and Financial Impact Assessment for the Lake Victoria Fisheries, today in Tanzania. The study highlights the economic results and focusses on impact indicators for the Lake Victoria Fisheries. This study has involved the three National Fisheries Research Institutes from Kenya, Tanzania and Uganda working in close collaboration with the LVFO and the Indian Ocean Commission SmartFish Programme, funded by the European Union.

“The three riparian Countries have now paved the way for a home-grown tool that can be used to conceptualize, plan and implement the appropriate fisheries management, development and policy based on economic variables. » said Dr. Robert Kayanda  from the LVFO  Secretariat, Jinja Uganda.

The present study focused on the economics of the various fishing units, employment in the sector, income generated etc. It should be noted that the Lake provides for the needs of millions of people and income for the countries concerned. The study sampled a total 666 of fishing units, representing 32,175 fishing units including foot fishers. The study also indicated that an average of 92 tons per year is caught by each of the sampled fishing units, irrespective of fishing type with an annual turnover of 93,506 USD.

“The economic value of the fisheries of Lake Victoria has never been estimated” said Sunil Sweenarain, the IOC-SmartFish Coordinator. “The Fisheries of the Lake Victoria is a promising sector and not just for subsistence. This study is paving the way for a sustainable business model in Africa and it is to be noted that the scope of the EFIA in informed decision making and management cannot be overemphasized” he concludes

The regional Economic and Financial Impact study for the Lake Victoria Fisheries highlights the following indicators:

-    The Gross-value added or wealth sector
-    The Intermediate consumption (goods & services being used)
-    The Direct employment created
-    The Income distribution
-    The Total investment from the private sector
Lake Victoria cuts across three East African nations in varying proportions: 6% in Kenya, 43% in Uganda and 51% in Tanzania. Whereas Kenya’s sector of the lake is relatively smallest, it provides the most productive and economically richest fishery nationwide. Annually, Lake Victoria fisheries in Kenya account for 77% of the total quantity of fish landed and 64% of total value at the fisher’s end. In Tanzania, the lake provides for some 60-70% of total landed catch. It also provides employment for over 100,000 people working as boat owners and fishing crew and over 500,000 people working in the post-harvest sector as fish processors, traders and fish agents in Tanzania. In Uganda, the Lake Victoria involve some 66,000 fishers.  

“This study is complementary to the Frame and hydrographic surveys and a useful set of tool to help the LVFO conduct advocacy activities and assist the decision makers get a holistic view of the lake which would greatly help in decision making. It will also provide crucial information to appropriate adaptation strategies to maximize the effective utilization of fisheries resources of the lake” said Dr. Robert Kayanda.

Notes to editors

The SmartFish Programme, implemented by the Indian Ocean Commission (IOC) and funded by the European Union, is the largest Fisheries Programme in Africa, involving 20 countries in East and Southern Africa as well as the Indian Ocean region. The IOC is a Mauritius-based inter-governmental organisation which promotes sustainable development through projects covering management of natural resources and biodiversity mainly supported by the European Union.

The Lake Victoria Fisheries Organization mandate is to coordinate the management and development of fisheries and aquaculture in East African Community and its mission is to promote Sustainable Management and Development of Fisheries and Aquaculture in the East African Community for Food Security and Wealth creation.

For more information:

Robert Kayanda, Director-Fisheries Resource Monitoring and Research, Lake Victoria Fisheries Organization, rkayanda@lvfo.org, Mob: +256 753621027

Toky Rasoloarimanana, IOC-SmarFish Communications Officer, toky.rasoloarimanana@coi-ioc.org, Whatsapp/VIber : +230 57433661

 
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