How Blue Economy can increase Africa’s GDP

With regard to the potential for both marine and terrestrial natural resources, Africa is among the most fortunate continents on earth. The majority of these assets, especially the marine resources that support the Blue Economy, haven’t been properly utilized to support the continent’s economic development, despite its wealth.

THE MATRIX’s research indicates that governments and other stakeholders in the majority of African countries appear to pay more attention to terrestrial resources, to the point that certain conflicts and political instability arise in some regions of the continent as a result of these resources

Seleman Yusuph Kitenge a notable writer said, “on the other hand, the marine resources which include freshwater bodies and oceans can offer significant economic opportunities such as fisheries, seabed mining, oil drilling, aquaculture, trade, and tourism which can drastically transform Africa’s future. However, despite many of the marine resources being utilised, some of the resources (such as marine fisheries) are over-utilised or improperly used through destructive fishing methods etc. Moreover, the issue of planning and management (governance) of the aquatic ecosystems, goods and services is poor which is resulting in degradation of ecosystems, loss and waste of valuable resources and conflicts between users (i.e. between fishers and mining concerns etc.).

“Notably, thirty-eight of Africa’s 54 states are coastal, and maritime zones under Africa’s jurisdiction. Furthermore, Africa’s lake zones are estimated to cover approximately 240,000 sq km while its transboundary river basins cover 64% of the continent’s land area. The African Union highlights that over 90% of Africa’s imports and exports were transported by sea, making the continent a strategic gateway for both regional and international trade.”