With 38 nations rich in water resources, experts urge full-scale adoption of Blue Economy strategies to unlock Africa’s US$300 billion opportunity.
Many African governments continue to put numerous measures in place, towards realizing the continent’s immense Blue Economy potential, which experts cap at USD$300 billion annually.
At least 38 countries on the continent have one or more blue economy resources, referencing both fresh and salt water bodies – spanning a coastline of approximately 18,950 miles (30,500 km).
An expert on maritime affairs, Dr. Said Ali Matano, former Lake Victoria Basin Commission (LVBC) Executive Secretary said income generated from sustainable socio-economic activities taking place on, in and around water bodies across the globe is around US$3 trillion annually, while Africa’s annual earnings are a mare US$300 billion, owing to lack of proper harnessing mechanisms.
“In the tail end, after we have harnessed this blue economy and gotten those US$3 trillion globally or US$300 billion in Africa, we expect that money to contribute towards economic growth, livelihood improvement or job creation,” he noted, during an interview with blueeconomy.africa.
Agreeing with Matano’s sentiments, Kenya’s President William Ruto recently noted that the Blue Economy contributes between US$234-US$310 million to the country’s Gross Domestic Product (GDP) annually.
“Today, the blue economy is contributing between KSh30 billion (US$234 million) and KSh40 billion (US$310) million yet the potential is between Ksh300 billion (US$2.3 billion) and KSh500 billion (US$3.9) billion a year. We are very far from attaining the true potential of the blue economy,” he said.
Having realized the huge social economic impact available in water, underwater and around water bodies, governments; such as Kenya and Nigeria have established full-fledged ministries on Blue Economy.
The East African nation established the Blue Economy Ministry in late 2022, before Nigeria followed suit in 2023 making them the only African countries with the specific ministries.
South Africa, the Seychelles, São Tomé and Príncipe and Mauritius are among nations with action plans in place that help first track issues related to the blue economy, according to a report from the Global Center on Adaptation.
Dr. Matano, currently serving as Blue Economy advisor to Kisumu governor, said the route taken by Kenya and Nigeria is the way to go for other African countries, in order to increase earnings from sectors such as marine transport, fishing, tourism, aquaculture and agriculture amongst others.
“The interlinkages and the collaboration will only be done if you have a comprehensive institutional framework. And Kenya has an institutional framework in terms of the ministry responsible for the blue economy. And so is Nigeria. So other countries should be able to help that,” noted the expert.
Matano said the continent already has strong regulations in place, to help propel the blue economy to another level.
Key among the regulations is the African Union (AU) Agenda 63. The strategic framework for the continent’s development prioritizes the Blue Economy as a key driver for inclusive growth and sustainable development.
Specifically, goal 6 highlights its role in accelerated economic growth, envisioning it as Africa’s major contributor to socioeconomic transformation and prosperity.
“We have sufficient legal frameworks, policies or regulations that we can actually utilize to promote a sustainable blue economy in Africa,” added the expert.
Another aspect is engaging the private sector in the development of the blue economy continentally, since development of the relevant infrastructure such shipping lines and modern ports may be a herculean task for governments alone.
“And the private sector can only be involved if we have friendly policies that incentivize this private sector to invest in the blue economy,” added Matano.
With massive inland water bodies which include major lakes like Victoria, Tanganyika, and Malawi, and significant rivers like the Nile, Congo, and Niger, Matano said Africa continues to punch below its blue economy potential, perhaps due to challenges like pollution, overfishing, and climate change.
We must address issues related to climate change. We have seen climate change coming in the form of fluctuating water levels, drying rivers, and all this,” he adds.
He is however quick to point out that Africa’s blue economy future is bright, if what is happening in Kenya, Nigeria and other countries is anything to go by.