The three Great African Lakes (Victoria, Tanganyika, and Malawi/Niassa/Nyasa) are important for the Blue Economy growth of their riparian nations, providing, fisheries and aquaculture products, drinking water, microclimatic buffering, relatively cheap transport means, tourism, biodiversity, employment, and sources of energy (hydropower and oil). Economic growth comes with a cost in the form of pollution (municipal waste, industrial waste, sedimentation, agricultural run-off, land-use issues, etc.). Investments are required to augment benefits from improved regional collaboration to manage fisheries and aquaculture, restocking of certain fish species, strengthen transport, further develop tourism, and conserve biodiversity. Investments are also required to reduce the negative effects of climate change, invasive species, eutrophication, overfishing, waste disposal, polluting materials, oil spills in case of exploitation, and other threats to the well-being of the riparian populations, the profitability of economic activities and ecology of the lakes and their basins. The present paper reviews the various activities to advance the concept of the Blue Economy and highlights the utility and importance of lake management. There are excellent Blue Economy growth options for the three African Great Lakes.