In recent decades, the aquaculture industry has seen exponential growth worldwide, surpassing other food production sectors. This review aims to explore the dynamics of aqua feed production, particularly the shift from conventional to local feed production in Africa, driven by cost-effectiveness and the availability of raw materials. This review examines various scientific publications on aqua feed, focusing on both conventional and novel feed formulations and their impact on both small-scale and large-scale aquaculture. Commonly used aqua feed ingredients among African farmers include cassava, maize gluten, groundnut oilcake, sunflower oilcake, soybean meal, kale, peas, garlic, shrimp wastes, and waste blood. Novel ingredients such as insect-based diets, micro-algae, and fish discard formulations are also explored. Aqua feed composition impacts aqua waste, water quality, algae, oxygen demand, fish mortality, and eutrophication, and findings from literature reiterate the need to reorient feed formulation methods and ingredients to achieve a circular economy in Africa. This will entail promoting increased fish production at minimal costs and creating employment while supporting climate adaptation and mitigation efforts. Ultimately, the aqua feed sector has the potential to grow sustainably through the adoption of feed alternatives that prioritize sustainable production and encourage beneficiation studies.