Investing in women in blue economy

The Investing in Women in the Blue Economy in Kenya (IIW-BEK) programme was officially launched this week in Nairobi.

The initiative is a five-year programme funded by Global Affairs Canada (GAC) and implemented by the Africa Enterprise Challenge Fund (AECF).

It aims to address the pressing challenges faced by women entrepreneurs, especially those running micro-businesses who have been hampered by limited funding opportunities, with a substantial 74% of women owning micro-businesses in the blue economy facing financial constraints.

"Currently, the blue economy's contribution to Kenya's GDP is 2.5%, but its projected annual contribution of Ksh.178.8 billion underlines its promising prospects for growth and development,” AECF CEO Victoria Sabula said during the launch.

“To fully unlock this potential, it is essential to address existing gender disparities within the sector and create ample opportunities for women to participate and flourish actively.”

Mining, Maritime Affairs and Blue Economy Cabinet Secretary Salim Mvurya said the IIW-BEK programme aims to address systematic challenges that have affected women in the sector.

"Women have been taking a backseat in investment because the environment has not enabled them to make significant advancements. It’s therefore important to recognize the impact of women in the Blue Economy investment," the CS underscored.

CS Mvurya further emphasized that investing in women in the blue economy plays a pivotal role in implementing the bottom-up economic agenda.

By recognizing the significant contribution of women, who contribute up to 60% of labor in fisheries, the IIW-BEK programme aims to harness the vast resources of Kenya's blue economy.

With this program, 2,500 jobs have been reserved exclusively for women, and it is expected to generate 50,000 indirect job opportunities in the blue economy sector.

The IIW-BEK programme aims to transform the lives of women in the Lake Victoria Basin and Coastal regions, enabling them to engage in various value chain addition in sectors such as tourism, biodiversity preservation, and mangrove restoration.

The IIW-BEK programme goes beyond mere funding and focuses on addressing harmful gender norms that have hindered women's progress.

With a sustainable approach akin to fishing gears, the program emphasizes marine protection, green energy production, and reduction of Green House gases to create transformative livelihood opportunities.

The initiative has now opened its second round of funding to women-led businesses in at least 10 counties in the Lake Basin and Coastal region counties.