African Stakeholders to Discuss Over $300bn Blue Economy

The President of Kenya, William Ruto, is set to host African stakeholders to discuss the blue economy projected to be worth $300bn by 2030. This was revealed in a press release titled ‘Blueinvest Africa 2024: An Invitation to Investors to Support the Blue Economy in Africa.’

A statement from the organizers discloses that the continent’s blue economy is generating $300bn in revenue and employing 50 million people in fishing, aquaculture, tourism, and transport. This also cuts across innovative fields such as biotechnology and renewable energies.

The statement explained that “Africa is experiencing steady economic growth, with a post-COVID recovery forecast by the African Development Bank at 3.8 percent in 2024 and 4.2 percent in 2025.

The blue economy, which includes traditional economic activities such as fishing, aquaculture, tourism, and transport, as well as innovative activities such as biotechnology and renewable energies, currently generates revenues of $300bn and employs 50 million people.

“By 2030, the sector is expected to be worth $405bn, underscoring its strategic importance for economic growth and job creation,”

However, the 2024 Blueinvest Africa event, which is a collaboration between the European Union and the Kenyan government, is dated to kickoff on July 2, 2024, in Diani, Kenya, and is poised to spotlight the dynamic sector and stand as an investment opportunity to Africa’s burgeoning blue economy.

The event will grant 29 African entrepreneurs the ground to present their innovative projects across various blue economy sectors in six themed pitching sessions.

These entrepreneurs have been selected from 17 African countries, including Botswana, Cameroon, Côte d’Ivoire, Ghana, Kenya, Madagascar, Malawi, Morocco, Namibia, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Tanzania, Togo, and Tunisia for their professionalism, dynamism, and capacity for transform their innovation from the fundraising to take their initiatives to the next level.

Ojeyemi Adeleye
Ojeyemi Adeleye
I am Ojeyemi Adeleye, a theatre arts graduate of the University of Ilorin and a masters degree holder in Dramatic Arts, Obafemi Awolowo Univerisity. I am a content writer who believes the world can be brought to your doorsteps through writing.

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