BFA Global, FSD Africa, and IUCN Unveil ‘Africa Blue Wave’: A $1 Million Initiative Driving Ocean Sustainability

0
87

BFA Global, FSD Africa and the International Union for Conservation of Nature (IUCN) have teamed up to launch the Africa Blue Wave, an exciting $1 million initiative aimed at bolstering sustainability in the ocean and water resources sector.

This initiative, generously funded by FSD Africa and the Canadian Government, builds upon the success of the Triggering Exponential Climate Action (TECA) program’s previous efforts in promoting innovation in the blue economy.

“The Africa Blue Wave is dedicated to nurturing passionate individuals committed to addressing climate challenges within Africa’s blue economy.”

This initiative will be spearheaded by Triggering Exponential Climate Action (TECA), an initiative by BFA Global, with valuable support from OceanHub Africa.

In its inaugural phase, the Africa Blue Wave will scout for 40 innovators hailing from Kenya, Tanzania, Comoros, Madagascar and Mozambique.

These selected participants will be provided with personalized support in the form of mentorship, guidance from industry experts, networking opportunities, and initial capital investments to help bring their climate and ocean-related solutions to fruition.

At the culmination of the program, these participants will be allowed to showcase their innovative solutions and pitch their businesses to potential investors, partners, and industry leaders, thereby securing further support and investment.

TECA Program Director at BFA Global, Shirley Mburu expressed optimism about the project, saying, “As we embark on the Africa Blue Wave, we carry with us the invaluable lessons learned from our inaugural wave. These insights will be the cornerstone of our commitment to making this new wave bigger, better and more impactful than ever before. We’ve demonstrated that solutions can be homegrown by local talent, and I am excited to work with innovators to create more solutions that contribute meaningfully to local and global climate challenges.”

Director of Digital Innovation at FSD Africa, Juliet Munro underscored the importance of this investment, stating, “Our investment in TECA is core to our mission of financing innovation and supporting innovation in finance. Through our seeding of TECA’s first blue wave this past year, we have seen firsthand the power of combining young African talent with access to expertise, networks and finance, creating new tech-enabled businesses that are solving climate issues. We are excited to partner with IUCN and BFA Global on the Africa Blue Wave, extending TECA’s reach to new geographies, new challenges and new innovators, leading to more, new genuinely African climate solutions.”

On his part, Thomas Sberna, Regional Head of Coastal and Ocean Resilience at IUCN Eastern and Southern Africa, outlined the initiative’s broader goals, saying, “The initiative aims to invest in Africa’s young innovators to catalyze solutions to address ocean challenges and achieve sustained ocean health across five priority seascape areas in Comoros, Kenya, Madagascar, Mozambique, and Tanzania. Our long-term goal, as envisaged in the Great Blue Wall initiative, is to transform coastal economies into drivers of positive conservation and socioeconomic development. We commend and greatly support Africa’s leadership and efforts in accelerating the development of a regenerative blue economy on the continent.”

The application process for the Africa Blue Wave is currently open and will close on October 15, 2023.

Individuals interested in participating can find more information about the program and submit their applications online here.