The problems encountered and recommendations on the operation of a credit revolving fund for small scale fish farmers
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This document presents the problems encountered and recommendations of a Credit Revolving Fund for Small Scale Fish Farmers in the Lake Basin Region of Kenya. The credit scheme is being undertaken by the Lake Basin Development Authority in collaboration with the UNDP/BSF/FAO Project, “Development of Small Scale Fish Farming in the Lake Basin Region, Phase II”. The scheme began operating in August 1991, and its main objective was to promote fish farming in the Lake Basin Region of Kenya by assist ing the small scale fish farmers to obtain credit to expand their fish culture activities. The scheme had 3 phases. During the first phase, loans were disbursed in cash. However, during the second and third phases, loans were disbursed in kind. Although the scheme has to-date disbursed KSh 3,923,265 to 386 small scale fish farmers, it has recovered KSh 487,156, which only amounts to 12.4% of the total loan disbursed. On one hand, the scheme has not been a success due to the low repayment rate, w hich can be attributed to several factors, some among them being drought, rise in the cost of feed and lack of training. On the other hand, the scheme has created an impact of awareness on the benefits of fish farming in non-traditional fish farming districts, especially Nandi and Kericho Districts. For this scheme to continue, it is suggested that the Project divorce itself as much as possible from loan recovery, and place an onus of repaying on the farmers. It is also recommended that future l oans be only directed to Fish Farmers Associations / Groups. The principal aim of this document is to share with workers involved in the field of African Aquaculture, the experiences of operating such a scheme. It is expected that the findings and recommendations in this document will provide the reader with ideas for establishing a sustainable fish farming industry.