Ten African Startups Selected to Receive Funding to Develop Blue and Green Economy Solutions
NAIROBI, Kenya, 1 July 2024 2024 -/African Media Agency(AMA)/- BFA Global, FSD Africa, and the International Union for Conservation of Nature (IUCN) are thrilled to announce the selection of ten innovative, future-looking startups as part of the Africa Blue Wave and Regen Wave initiatives. Each startup is set to receive $55,000 in funding, to advance their solutions for the blue and green economy in Africa.
Recognizing the wealth of ideas and the potential of Africa’s young innovators, BFA Global, FSD Africa, and the IUCN launched the Africa Blue Wave and Regen Wave initiatives to unlock solutions for Africa’s blue and green economies. These Waves were implemented by TECA (Triggering Exponential Climate Action), an initiative of BFA Global, with support from OceanHub Africa and funding from FSD Africa and the Canadian Government. Through a fellowship program, the Waves supported founders in creating solutions that promote sustainable livelihoods, the use of ocean and freshwater resources, and the restoration and regeneration of landscapes. The fellowship culminated in a final pitch day, during which founders presented their solutions to a group of advisors, industry experts, and peers.
Founded in seven African countries — Kenya, Madagascar, Mozambique, Nigeria, Rwanda, South Africa and Tanzania – the startup ideas were rigorously evaluated and chosen for their innovative approaches to addressing critical challenges in the fish trade, environmental pollution, renewable energy certification, eco-friendly fertilizers, waste reduction and management, clean cooking, cold storage and sustainable drainage solutions. Notably, 50% of the selected startups are women-led companies.
“We are proud to support these visionary entrepreneurs who are tackling some of Africa’s most pressing environmental and climate-change-related challenges. The diversity and ingenuity of these startups reflect the continent’s potential for sustainable development. With the funding and support provided, we are confident they will drive significant positive change in their communities and beyond,” said Rasima Swarup, TECA Director, BFA Global.
The selected startups and the solutions they are developing include:
ARK [Kenya]: facilitating new revenue streams for renewable energy projects by assisting them to enter the market and trade international renewable energy certificates.
Eco Guardian [Rwanda]: developing a digital device and service for environmental pollution monitoring.
Khwezi Innovations [South Africa]: creating a biodegradable, 2-in-1, hand glove sanitizer.
Mada Fia [Madagascar]: utilizing Japanese techniques (Himono) and establishing a marketplace for drying and smoking fish.
Lima Aja [Rwanda]: specializing in organic fertilizer production in Rwanda, utilizing IoT sensors to create pH-correcting fortified organic fertilizers for smallholder farmers.
PETsPoint [Nigeria]: providing a digital platform enabling both formal and informal waste collectors to efficiently manage recyclable waste collection.
Plas Tech [Kenya]: converting plastic waste into safe cooking gas, offering a more climate and forest-friendly cooking energy source.
Samaking [Kenya]: establishing a chain of franchisable and tech-enabled fish retail shops, combined with upstream capabilities to aggregate produce from farmers and fisherfolk at scale.
Sunwave [Tanzania]: designing and manufacturing solar-powered ice makers for fish storage.
Xi Bassile [Mozambique]: providing sustainable drainage solutions with its Bioswale and Planter Box technology by utilizing soil, plants, repurposed solid waste, and biomaterials to filter and retain stormwater, thereby mitigating flooding and improving water quality.
“Africa’s talent is at the heart of a successful green transition on the continent. It is an honor to work alongside our partners to support innovators who are working towards solving critical climate challenges. The 10 selected startups have the potential to significantly improve the lives of climate-vulnerable communities while maintaining biodiversity, reducing waste and improving climate outcomes. We look forward to walking alongside them as their journeys unfold,” said Mary Kashangaki, Assistant Manager for Digital Innovation, FSD Africa.
“The triple planetary crisis is not waiting for us. It’s up to us to catch up and turn things around. Unleashing the regenerative potential of our economic engine represents the best chance for the world to address this crisis at both the scale and speed required. The Africa Blue Wave and these startups are the perfect illustration of how to walk the talk and represent an incredible source of blue hope for the continent and beyond!” stated Thomas Sberna, Regional Head, Coastal and Ocean Resilience, IUCN Eastern and Southern Africa.
These startups represent a diverse group of entrepreneurs who are poised to make significant contributions to Africa’s blue and green economies. The funding provided will enable them to further develop and scale their solutions, driving positive change in their respective sectors while promoting environmental sustainability. TECA and OceanHub Africa will offer hands-on venture-building support and connections to investors, advisors and support networks to progress their solutions.
Distributed by African Media Agency (AMA) on behalf of BFA Global
For further inquiries, contact Carmen Merab, Senior Communications & Influence Manager, BFA Global: cmerab@bfaglobal.com
About BFA Global
BFA Global is an impact innovation firm that combines research, advisory, venture building, and investment expertise to build a more inclusive, equitable, and resilient future for underserved people and the planet. We partner with leading public, private and philanthropic organizations, global and local, to catalyze innovation ecosystems for impact across emerging markets.
About FSD Africa
FSD Africa is a specialist development agency established in 2012 by the UK Government working to make finance work for Africa’s future. We work on the ground in over 30 African countries to mobilise “green plus” finance that will power economic and social development while delivering environmental gains and building Africa’s resilience. We work on policy and regulatory reform, capacity strengthening and improving financial infrastructure and addressing systemic challenges in Africa’s financial markets to spark large-scale and long-term change.
About IUCN
IUCN is a membership Union of government and civil society organisations. Together, we work to advance sustainable development and create a just world that values and conserves nature. Created in 1948, IUCN is now the world’s largest and most diverse environmental network, harnessing the knowledge, resources and reach of more than 1,400 Member organisations and 15,000 experts. This diversity and expertise makes IUCN the global authority on the status of the natural world and the measures needed to safeguard it. IUCN, in partnership with Mission Inclusion, is implementing the project “Regenerative Seascapes for People, Climate and Nature”, through funding from Global Affairs Canada.
About OceanHub Africa
Officially launched in 2019, OceanHub Africa (OHA) is Africa’s leading enabler of ocean impact entrepreneurship. OHA supports African-based, Ocean-impact entrepreneurship on all scales through their acceleration programs and the coordination of an international ocean-minded ecosystem. They inspire and assist innovative ocean startups and community-based ventures towards nurturing a sustainable blue economy. Their mission is to build a future where people and the ocean thrive. Based in Cape Town, at the crossroads of three oceans, OHA operates pan-Africa virtually and through a network of local stakeholders.
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Source : African Media Agency (AMA)
