• Victory Farms plans a $5.7 million fish farm on Lake Victoria

• Project could add up to 30,000 tons of tilapia annually

• Aquaculture is growing fast but still lags wild catch supply

Victory Farms, a Kenya-based aquaculture company, is preparing to expand its operations with a new fish farm on Lake Victoria, according to details reported on March 16 by local outlet Business Daily.

The project, outlined in an environmental and social impact assessment submitted to the National Environment Management Authority (NEMA), is valued at 750 million Kenyan shillings, or about $5.7 million. It will focus on tilapia production using floating cage systems, with an estimated annual capacity of 30,000 tons in newly allocated concession areas in Migori County.

If approved, the investment would significantly increase Victory Farms’ production capacity and strengthen its position in Kenya’s aquaculture sector. The company has been active in the country since 2015 and already operates several cage-based fish farms on Lake Victoria.

The planned expansion comes as Kenya’s aquaculture industry continues to gain momentum. According to the Kenya Fisheries Service (KeFS), total aquaculture output more than doubled over the past eight years, rising from 12,635 tons in 2017 to 33,423 tons in 2024, based on its 2025 annual report published last August.

Cage farming has been the main driver of this growth. It accounted for about 76.4% of total aquaculture production in 2024, or 25,547 metric tons. Inland freshwater systems produced 7,742 tons, while marine aquaculture along the coast contributed a modest 134 tons.

Despite this progress, aquaculture still plays a limited role in Kenya’s overall fish supply. Total fish production reached 168,424 tons in 2024, with more than 80% coming from marine and inland capture fisheries.

To close this gap, the government is betting on aquaculture as part of its five-year strategy for developing the blue economy, launched in February. Nairobi aims to raise annual fish production to nearly 450,000 tons by 2030, positioning fish farming as a key pillar of future growth.

Stéphanas Assocle