The current, highly centralized approach to fisheries management seems to be incapable of coping with escalating resource depletion and environmental degradation. Co-management has been identified as an alternative. This paper compares various approaches to fisheries management and discusses their performance in relation to the nature of the fishery. It is concluded that in African fisheries, stringent institutional arrangements, poor human, technical and financial resources, and a limited time frame often thwart co-management approaches. However, with the right conditions and prerequisites, comanagement can be successful in improving compliance with regulations and maintaining or enhancing the quality of the resource. The paper brings out the issues that require further research.