Fish Levy Trust Fund is a government agency established under the Fisheries Management and Development Act no 35 of the year 2016. Its object is to provide supplementary funding of activities geared towards management, development and capacity building, awards and urgent mitigation to ensure sustainability of the fisheries resource.
The FLTF was established on 9th September 2016 following the gazettement of the Fisheries Management and Development Act.
As the name suggests, fish levy is a levy imposed by the Cabinet Secretary under section 28 by Order to require the payment of levies by persons engaged in fishing or fishing-related activities
Fish levy is paid by persons engaged in fishing or fishing related-activities
This depends on specific fishing or fishing related activity a person is engaged in. Different activities attract different rates of levy as specified in the fish levy regulations
Fish levy is collected and remitted by appointed FLTF agents.
Any person/ institution engaged in fishing or fishing related activities is eligible for funding. However, prospective borrowers must meet certain requirements that are set by the Board of Trustees.
To access the funds, a person engaged in fishing or fishing-related activities is required to fill and return a prescribed form to the FLTF. However, note that the Fund is currently not lending. Prospective borrowers are advised to wait until the agency calls for loan applications.
No, borrowers are not charged interest on money borrowed. However, a nominal loan application fee is applicable.
Although a ceiling is set, lending depends mostly on the magnitude of the project and its contribution to the realization of the object of the Fund.
Not necessarily, however, prospective borrowers are urged to maintain a bank account for ease of doing business.
To register, persons engaged in fishing or fishing related activities are required to fill and submit Form FLR (1). However, this process has not started. Eligible persons will be informed when the registration process begins.
Normally this will take a short time but depends on the applicant's ability to meet the criteria set and reviewed from time to time by the Board of Trustees of the Fish Levy Trust Fund.
No, this is a revolving fund intended to benefit all persons engaged in fishing or fishing-related activities. For efficient and effective management of the fund, it is therefore imperative for a prospective borrower to prove his/her credit worthiness.