Climate Finance | February 15, 2023

Seven blue economy startups secure seed funding to enhance climate resilience in Africa

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, February 15 – Community-powered mangrove restoration. Restocking local fish supplies. A marketplace for seaweed farmers.

Triggering Exponential Climate Action, or TECA, invested $27,500 each in seven oceans and seafood enterprises in Kenya, Egypt, South Africa, Uganda, Zimbabwe and Tanzania.

The partnership between BFA Global and FSD Africa also provides the companies with hands-on support.

“We look forward to seeing the impact of their financial and tech-enabled solutions on communities and ecosystems,” said BFA Global’s David del Ser.

Livelihoods and conservation

AquaTrack makes a water-quality monitor for aquaculture farmers. Mwani Blu is developing a seaweed trading marketplace, focusing on women farmers.

Wezesha Aqua Farms is building a community support platform to address dwindling fish stocks in East Africa’s lake region. RegisTree is engaging coastal communities to protect and restore mangroves.

Also in the cohort: Carboni Bank, which is helping tourists support local climate initiatives; ConserVate, a verification platform for conservation initiatives; and Vua Solutions, a fintech venture focused on blue economy workers.