AquaRech launches AquaFedha to bridge Africa’s fish farming credit gap

AquaFedha introduces a tailored credit model that evaluates farmers based on their production potential rather than conventional banking metrics.

Dave Okech, Founder and CEO Aquarech Ltd

KENYA – AquaRech LTD, Kenya’s pioneering fish farming platform, has launched AquaFedha, Africa’s first credit finance product designed to transform small and medium-sized fish farming into a commercially viable industry. 

This innovative financial solution, backed by AquaRech, Equity Bank Limited, and TechnoServe, is set to bridge the critical financing gap for small and medium-sized fish farmers, enabling them to transition from subsistence to commercial-scale production.

According to AquaRech, one of the biggest challenges for small-scale fish farmers in Africa is access to capital. Many farmers lack collateral, formal financial records, or the scale needed to qualify for traditional bank loans. 

AquaFedha introduces a tailored credit model that evaluates farmers based on their production potential rather than conventional banking metrics, solving the US$5 billion credit gap in African aquaculture.

With access to credit, fish farmers can purchase high-quality fingerlings and fish feed in bulk, reducing costs and increasing yield. 

They can invest in HDPE cages and large-scale ponds to enhance production efficiency. Integrating technology through AquaRech’s mobile app allows farmers to improve farm management and data analysis. 

Furthermore, credit enables farmers to consistently supply local fish traders, strengthening market linkages and increasing profitability.

Strengthening Africa’s food systems

Small and medium-sized fish farmers contribute nearly 60% of Africa’s aquaculture output but remain impoverished due to a lack of financing. 

AquaFedha aligns with Africa’s food security goals by enhancing nutrition security through the provision of affordable protein to local communities. 

The initiative also fosters job creation, particularly for women and youth engaged in fish farming and processing. 

Additionally, it promotes climate resilience by funding sustainable aquaculture practices, ensuring the sector’s long-term viability.

As a collaborative effort involving AquaRech LTD, Equity Bank Limited, and TechnoServe, each partner plays a vital role in ensuring the program’s success. 

AquaRech LTD provides training and technology support to help farmers maximise their loans. 

Equity Bank Limited adapts its financial inclusion model to cater to smallholder farmers through flexible repayment terms and digital lending solutions. 

TechnoServe, through its CASA (Commercial Agriculture for Smallholders and Agribusiness) program, supports the initiative by promoting a blended finance model that makes aquaculture investments more accessible.

AquaFedha key features 

AquaFedha offers several key features, making it a transformative solution for small-scale fish farmers.

It provides low-interest loans, making capital more affordable for purchasing feed, equipment, and farm expansion. Technical support is available through training on best aquaculture practices, disease control, and efficient farm management. 

The program also facilitates market access, connecting farmers with processors, retailers, and consumers to ensure a steady demand for their products. 

Additionally, digital integration through a mobile-based platform allows farmers to conveniently apply for loans, make repayments, and receive advisory services.

AquaRech invites stakeholders, investors, and development partners to support AquaFedha and help transform Africa’s aquaculture into a thriving and resilient industry.

“AquaFedha is the gateway to profitable fish farming. By providing capital, training, and market access, we are equipping farmers to move from struggling to thriving,” Dave Okech, CEO of AquaRech, explains.