Building resilient businesses within Africa’s blue economy

East Africa's blue economy holds vast economic opportunities, particularly for women-led enterprises. Cosmas Muchina, Program Manager at the Africa Enterprise Challenge Fund, outlined the potential for growth in Africa's exports through well-capitalized women-owned small and medium enterprises (SMEs) within the blue economy sector. The fund, in collaboration with Global Affairs Canada, has initiated a five-year program aimed at supporting women-owned SMEs to venture into blue economy value chains and enhance their economic activities. This program not only benefits the women entrepreneurs but also uplifts other fisheries and smaller businesses within the blue economy. By bolstering SMEs that rely on natural resources sustainably, the aim is to benefit current and future generations. The primary focus areas for the blue economy in East Africa include the Indian Ocean, Lake Turkana, and Lake Victoria, where SMEs are primarily involved in fisheries and tourism. However, efforts are underway to expand opportunities in conservation, carbon credits, and sustainable practices to propel the sector forward.