ImpactAlpha, April 23 – Dutch development bank FMO made a $10.5 million loan to Yalelo Tilapia in Zambia to boost the farm’s production of sustainable fish.
Tilapia is a low-carbon, efficient source of protein and is conducive to aquaculture operations, which have a potentially “transformational effect for the availability and affordability of locally produced protein,” noted an FMO statement. Yalelo’s impact potential also extends to gender, jobs, and workforce development: it is 30% female-run, employs 800 people and provides training to local small-holder tilapia farmers.
FMO invested in the company to help it scale its regional operations and create an additional 200 jobs. The loan will also support Yalelo’s work towards Aquaculture Stewardship Council certification for responsible aquaculture. (Yalelo would be the first in Africa to acquire the certification.)
A portion of the loan was originated from FMO’s Building Prospects infrastructure-focused impact fund.