Fish cage farming was first introduced in Lake Victoria in 2005, however, its adoption and production has not met expectations. It is a promising venture that can help solve the problems of food insecurity, unemployment and alleviate poverty if, a conducive investment environment is put in place. This study sought to explore the adoption determinants, challenges and opportunities of this technology within the Lake Victoria shoreline. Using a cross-sectional survey, a questionnaire was administered to 100 respondents along the Lake Victoria beaches in Bondo Sub County of western Kenya. Data were analyzed using a Probit model. Gender, credit access, training, were major determinants of cage adoption while market, quality seed and feed, high investment cost, policy framework, insecurity were found to be major challenges. Nevertheless, dwindling wild capture, growing market and changing lifestyle, government initiatives such as Big Four Agenda and Blue Economy were the emerging opportunities identified in the region. Conclusively, solving the challenges would help prospective investors take advantage of the opportunities thus enhancing adoption.