The technical viability of tilapia (I-ExCEL strain Nile or red) and giant freshwater prawn (GFP) co-culture in cages-within-tanks was evaluated while appropriate feeding protocols for tilapia-GFP co-culture in cages in a eutrophic lake were determined. Specifically, production parameters in all test species grown for five months in tank co-culture (where only tilapias were fed) were compared, while the best feeding protocol from among the following treatments: (a) Tfed—fed tilapias; (b) GFPfed—fed prawns and (c) T-GFPfed—both species fed, were defined. I-ExCEL Nile tilapias grew faster in tank co-culture whether reared singly or otherwise. However, red tilapia-GFP tank co-culture gave the best results considering key production traits in all test species (red tilapia —2.52%/day specific growth rate or SGR, 83.3% survival; GFP—1.17%/day SGR, 72.85% survival). Lake-based co-culture was technically feasible at stocking densities of 12.5/m2 for tilapia and 2.4 to 4/m2 for prawns even when only tilapias were fed; prawns grew to desired marketable sizes by thriving mainly on detritus and natural food organisms in the lake. However, further refinements can still be made to optimise the co-culture schemes to make them more sustainable and provide artisanal fish farmers options in increasing farm yields through multi-species aquaculture.