Three African seafood startups have been selected to receive a portion of a USD 550,000 (EUR 500,000) financing pool aimed at supporting climate-resilience solutions across the continent.
Kenyan startup Samaking, which aims to decrease barriers to entry for aquaculturists in Africa; Madagascan firm Mada Fia, which employs the himono Japanese culinary method of preparing dried and salted fish and establishes marketplaces for its products across the continent; and Tanzanian startup Sunwave, which designs and manufactures solar-powered ice machines for fish storage, are three of 10 companies that will each receive USD 55,000 (EUR 50,000) to promote their future-forward, environmentally friendly economic solutions.
The funding comes from a joint initiative comprising consultancy group BFA Global; U.S.- and U.K.-backed finance nonprofit FSD Africa; and Gland, Switzerland-based International Union for Conservation of Nature (IUCN).
“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,” FSD Africa assistant manager for digital innovation Mary Kashangaki said.
Other startups chosen to receive funding from the USD 550,000 pool include a Nigerian digital platform enabling both formal and informal waste collectors to efficiently manage recyclable waste collection, a Rwandan startup specializing in organic fertilizer production, and a Mozambican business providing sustainable storm drainage solutions, among others.
“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!” said Thomas Sberna, IUCN’s regional head of coastal and ocean resilience for Eastern and Southern Africa.
The latest funding pool from the joint initiative follows a USD 1 million (EUR 909,000) project the companies funded to support technical startups through the Africa Blue Wave initiative, which focuses on investment in young African entrepreneurs who have viable investment ideas on how the continent can address the sustainability and health of its marine waters.
