Coral
CALL FOR BUSINESS CONCEPTS FOCUSED ON THE SUSTAINABLE BLUE ECONOMY THAT IMPROVE CORAL REEFS IN KENYA AND TANZANIA

Background

The Wildlife Conservation Society (WCS) has been working to save wildlife and wild places around the globe since 1895. WCS’s marine program operates in the world’s most important places for the protection of marine biodiversity, including the Western Indian Ocean (WIO) region of Africa.

As part of efforts to conserve and protect the WIO’s coral reefs, WCS is implementing the Miamba Yetu Sustainable Reef Investments programme along the length of Kenya and Tanzania’s coasts - including the Zanzibar archipelago. The programme is funded by the Global Fund for Coral Reefs (GFCR) which was launched in 2021 as the first ever blended finance instrument dedicated to coral reefs.

Miamba Yetu is an investment vehicle that aims to support businesses that directly or indirectly benefit coral reefs over the next 5 years, with catalytic investments in the form of concessionary debt and equity. A proportion of grant funding is also provided to further de-risk investments and improve returns for businesses. Bankable or investable projects that can benefit from the Miamba Yetu programme must benefit coral reefs and can include those in:

Coastal tourism (eco-friendly beach resorts, Marine Protected Areas/coastal co-managed areas, recreational facilities)

  • Land-use management (sustainable agroforestry, coastal infrastructure planning, watershed restoration)
  • Interventions that reduce fishing pressure (Coastal aquaculture, community livelihoods, value chain addition)
  • Waste management (treatment plants, plastics recycling, solid waste management)
  • Blue carbon (mangroves and seagrass)
  • Other interventions that clearly benefit coral reefs

All proposals must demonstrate potential for return on investments. Proposals that demonstrate measurable benefits to communities will be prioritized. Funding is subject to availability of funds and programme funding approval by GFCR.

Application Process

  • Submit a concept note using our template. These will be reviewed quarterly by WCS, our partners Okavango Capital Partners and an independent expert panel of marine specialists from Kenya and Tanzania. Feedback will be shared in the quarter following receipt of the application.
  • Successful concepts will be invited to submit a full proposal which will also be reviewed quarterly. Promising concepts that need further development will be given feedback and an opportunity to resubmit the concept.

Applications have been extended to 13th September 2024 and should be submitted to WCS via the contact person below for consideration in the next round:

Dr. Fahd Al-Guthmy
Programme Director (Conservation Finance),
Miamba Yetu: Sustainable Reef Investments
Wildlife Conservation Society
Email: falguthmy@wcs.org

With a copy to:
Peter Musembi
programme’s Marine scientist
Wildlife Conservation Society
Email: pmusembi@wcs.org

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