BlueInvest Africa: The European Union supports investments in Tanzania Blue economy companies

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Three Tanzanian companies will be presented to international investors in an event organised by the European Union and the Republic of Seychelles, for the first edition of BlueInvest Africa on 7 and 8 September 2022 in Seychelles. This event, held under the high patronage of the President of the Republic of Seychelles, will bring together investors from Africa and Europe and African start-ups in order to generate business opportunities and promote the blue economy sector in Africa. An important Tanzanian delegation is expected to participate in the various sessions of the event.

The three selected companies from Tanzania will be pitching their project to investors:

1. Eco-Act: A start-up company manufacturing plastic products from recycled plastic waste, seeking funds to purchase machines to increase production.
2. ENdep Limited: A start-up company creating a solar powered plant that will offer cold fish storage services, targeted to support women and young fish-traders.
3. NovFeed: The representative, Ms Diana Orembe, will give a TEDTalk on her ground breaking experience with production of bacteria-based protein for feed, particularly aquaculture.

The Tanzanian participants who will represent their companies shared their expectations for the BlueInvest Africa event:

"Tanzania is endowed with the Indian ocean and three major inland lakes. Therefore, the Blue Economy is of utmost relevance in uplifting the economic livelihoods of her citizens. It is my expectations that the BlueInvest Africa event will open doors to meet investors and technology partners crucial for realizing the full potential of Blue Economy in Tanzania," said Mr Rugola Mtandu of ENdep Limited.

“We are excited by the BlueInvest Africa forum for not only giving us an opportunity to share our experience, but also to learn from other actors in the blue economy sector. We hope to learn from their best practices, and adapt to out context to enhance our impact,” said Christian Mwijage of ECO-Act Company.

In the near future, the EU will launch a EUR 140 million intervention in Tanzania aimed at contributing to a climate resilient Blue Economy on the Tanzanian coastal areas, in Zanzibar and the Indian Ocean (Exclusive Economic Zone) for the benefit of the economy and local communities, and for the preservation of the environment.

The EU is already actively supporting the Government of the United Republic of Tanzania in implementing three fishery projects in Lake Victoria, Lake Tanganyika and in the area of Unguja-Pemba-Pangani. It is also supporting projects in sustainable agriculture in coastal areas and in Zanzibar, as well as the development of renewable energies, sustainable cities, investments and community based activities promoting livelihood and climate change adaptation.
Distributed by APO Group on behalf of Delegation of the European Union to the United Republic of Tanzania and the East African Community.