BlueInvest Africa 2024 - group photo with pitchers and speakers

BlueInvest Africa: the successful second edition showcases the potential of the blue economy

KENYA
Wednesday, July 17, 2024, 01:30 (GMT + 9)

On 3 and 4 July 2024, BlueInvest Africa returned for its second edition, destination Kenya! For two days, the little coastal city of Diani became home to Africa’s vibrant blue economy community. Organised by the European Union in collaboration with the Government of the Republic of Kenya, the two days were full of inspiring stories, networking opportunities, invigorating panel discussions, and, most of all, a sweaty pitching battle.

27 innovative start-ups and small and medium-sized enterprises from all over the African continent pitched their ideas to a jury of investors in six categories:

The investors' panels didn't ask easy questions, making the pitchers sweat to prove their companies' potential. Talking projections of revenues, and gross and net profit, the jury investigated each company’s strengths and weaknesses to select the winners of the BlueInvest Awards.

Fatima Mang'ena, the co-founder of the Tanzanian Healthy Seaweed Cafe, scored the Award in the 'Blue Communities' category. She impressed the jury with her story and dedication. Fatuma turned a traumatic experience into a thriving business. She discovered seaweed on her path to recovery from a non-communicable disease. She decided to share the immense health benefits of this treasure of the sea by marketing a large variety of seaweed-based products and food supplements. Healthy Seaweed Cafe is very mindful of the social and natural environment. The seaweed comes from local farmers in Tanzania and is bought at a fair price. The end products are sold locally and internationally in Africa, the UK, and the USA. 

The other winners of this edition are:

• Wontesty Ventures from Ghana in Blue Tech aquaculture support  
• Eazy Chain from Togo in Maritime transport ecosystem 
• Sulha Africa from Kenya in Blue products 
• Riofish Ldt from Kenya in Aquaculture 
• Sea ventures from Kenya in Blue circular

While the winners' emotions and celebratory smiles filled the room, it was impossible not to realize the power of BlueInvest Africa: people and opportunities. 

During her opening speech, Charlina Vitcheva, Director General of the Commission’s DG for Maritime Affairs and Fisheries, highlighted how 

“This event is about showcasing African innovation, entrepreneurship, and creativity. The overwhelming interest in BlueInvest Africa demonstrates that it is necessary, and it fills a gap between the world of entrepreneur and the financial and investment community”.  

Innovation in the blue economy needs resources to flourish, but for the entrepreneurs it is not always easy to obtain investments. BlueInvest Africa works on bridging this gap. 

For Richmond Quarcoo, Director at Plastic Punch, a Ghanaian NGO and social business promoting circular economy and environmental preservation, 

“This event is very important. This is how we put entrepreneurs in contact with investors so there can be investments in solutions propelling the growth of Africa in the maritime sector and the blue economy. People have great ideas, and they are doing amazing things: we only require that very much-needed push, and that’s what this event is”.  

Flavien Kouatcha, Managing Director at Save Our Agriculture Ltd and the master of ceremony for the event, told the participants how BlueInvest Africa had a positive impact on his business, turning its company into a great success. He could scale up his business by applying the precious suggestions received during a 1:1 meeting with an investor at the first edition of BlueInvest Africa in 2022. 

Sharing is caring, and at BlueInvest Africa that is more than true. Best practices, success stories, and expert panels of discussion marked the two days in Diani.  

The participants could discuss with investors and experts which sectors attract the most investments in the sustainable blue economy: aquaculture, renewable energy, and climate-neutral infrastructures were often mentioned. 

The financial ecosystem is there, and so are the innovative ideas. BlueInvest Africa is all about creating match-making opportunities that generate sustainable growth.  

The second BlueInvest Africa showed how crucial these events are in supporting the blue sector, so preparations for a third edition of the event are underway.  

Asante Kenya, for your overwhelming hospitality. See you soon, Togo! 

Source: oceans-and-fisheries.ec.europa.eu

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