Blue Economy Innovation & Investment Summit 2024 | Supporting jobs & economic opportunity for youth and women

Background

The Blue Economy generally means the use of the sea and inland water and its resources for sustainable economic development. The Blue Economy covers both aquatic and marine spaces including oceans, seas, coasts, lakes, rivers, and underground water. It encompasses a range of productive sectors, including fisheries, aquaculture, tourism, transport, shipbuilding, energy, bioprospecting and underwater mining and related activities.

The global ocean economy, measured in terms of the ocean-based industries’ contribution to economic output and employment, is significant with calculations on the basis of the OECD’s Ocean Economy Database value the ocean economy's contribution in 2010 very conservatively at USD 1.5 trillion, or approximately 2.5% of world gross value added (GVA) with world bank projecting the sector to double to US$3 trillion by 20301

As of 2018, the sector in EU contributed 5 million direct employments, €750 billion in turnover and €218 billion in gross value added

The Mauritius blue economy activities excluding coastal tourism represent 10% of the Growth Domestic Product (GDP) and employ around 7,000 people4

The range of economic investment opportunities in the Blue Economy in Kenya include but not limited to: fishing, aquaculture, tourism, ship building and repair, education and training, marine cargo handling, maritime law, safety and security, marine salvage, international shipping, transport, energy, bio-prospecting, offshore mining, marine bio-technology, blue data, aqua-business, cargo consolidation, freight forwarding, marine insurance, bunker supplies, ship-handling, port agency, port services, sports fishing, and marine governance.?

The Fisheries sub-sector contributed 0.5% to the national Gross Domestic Product (GDP) in 2017 and 2018; 0.6% in 2019 and 2020; and 0.7% in 20215

Further the fisheries sub sector contributes to Kenya’s socio economic development through; contribution to national food and nutrition security, employment creation in fish farming and capture fisheries especially in the rural areas and supports industrialization through backward and forward linkages along the fish value chain.?

Kenya’s 2018 to 2022 blue economy sector plan under the State Department for Fisheries, Aquaculture and the Blue Economy6 identified a number of challenges the sector faces as follows (1) lack of policy integration and uncoordinated development in the Blue Economy sub-sectors (2) weak enforcement of laws (3) legislative gaps (3) high cost of doing business?(4) inadequate human and institutional capacities to fully exploit the potential of the sector(5) fragmented knowledge base of the sector that is domiciled in different institutions leading to loss of the country’s resources to other nations (6) excessive fishing effort (7) use of destructive fishing gears and methods( 8) high cost of inputs especially fuel and fishing gears (9) inadequate fisheries infrastructure such as cold storage facilities and landing sites (10)market-access challenges (11)environmental degradation and pollution (12) limited commitment and involvement of stakeholders in management of fisheries resources and protection of critical fish habitats and? (12)low investment in the sector.?

Ministry of mining, blue economy and maritime affairs state department for the blue economy and fisheries strategic plan 2023-20277 further reinforces challenges as per 2018-2022 sector plan with the addition of (1) lack of a Maritime Spatial Plan to guide blue economy development (2). Insufficient training facilities and equipment required for capacity building of stakeholders in the blue economy sector and (3) Lack of capacity to offer special training required for personnel in certain specialities. For example, fishing vessels, anchor handling vessels and offshore supply vessels among others.?

About Blue Economy Innovation and Investment Summit?

The Blue Economy Innovation and Investment Summit is a three-day event that will seek to expand knowledge and opportunities that will foster the growth of the blue economy.?

The Blue Economy Innovation and Investment summit 2024 is themed ‘’Building an Inclusive Blue Future- supporting jobs and economic opportunity for youth and women’’

The summit’s main objective is to explore sustainable development of the sector through multi stakeholder engagement underpinned on global best practice frameworks, the African Union and Kenya’s blue economy and fisheries strategic plan 2023-2027?

Specific summit objectives are

1. Explore development of sectors with highest job and economic opportunities creation for women and youth?
2. Explore technology Innovations that can sustainably support the growth of? Kenya’s fisheries sector and Ocean Conservation and Sustainability
3. Explore destination marketing and branding, strategies for promoting Kenya’s Coastal tourism
4. Explore innovation based solutions for climate change and environmental challenges that address social and economic
5. Explore the nexus between greening and commercial interests in the Port, Maritime and Logistics business
6. Profiling investment opportunities and climate finance in ocean related ventures.
7. Unlocking sustainable jobs and opportunities in the Ports, Maritime and Logistics
8. Stock take implementation of blue economy programs under coastal counties as per County Integrated Development Plan (CIDP) and 2024 Annual Development Plan (ADP)?

Blue Economy Innovation and Investment Summit Topics

The sub objectives will be tackled with exciting topics classified under three sub themes of; Blue Tech, Blue Investment and Climate Change.

A-Blue Tech

Topic 1: Technology Innovations in fishing, enhancing efficiency and sustainability in the fisheries sector

Overview?

Kenya's fisheries sector plays a vital role in the economy, providing livelihoods to numerous coastal communities. However, the sector faces significant challenges as enumerated under Kenya’s 2018 to 2022 blue economy sector plan under the State Department for Fisheries, Aquaculture and the Blue Economy among other studies.

The sessions bring together relevant government ministries and agencies, academia, startups, development partners among other stakeholders to explore policy and programmatic solutions to address challenges in the fisheries sector.?

Topic 2: Technology Driven Solutions for Ocean Conservation and Sustainability

Overview?

The oceans importance cannot be overstated; producing over 50 percent of the earth's oxygen, absorbing over 30 percent of carbon dioxide, source of food and medicine and generally supporting a vast number of sectors in the blue economy contributing to significant socio economic development of coastal communities and inland populations.

The ocean ecosystem continues to face serious threats and challenges such as; plastic waste with an estimated 11 million tons of plastic waste ending up in the world’s oceans every year. Eutrophication contributes to dead zones; nearly 80% of the world’s sewage is discharged untreated, climate change and offshore drilling among others.

The session brings together youth and women entrepreneurs, development partners, relevant government ministries and agencies and private sector to explore available technology solutions for Ocean Conservation and Sustainability as well as dissemination of research on Ocean Conservation and Sustainability.

Topic 3: Climate-Driven Innovation: Addressing Socio-Economic Challenges

Overview

The Kenyan coast runs for approximately 600 KM along the Indian Ocean, with coastal and marine ecosystems home to rich and diverse marine life that support the livelihoods of 2.7 million people.?

Kenya’s rich marine ecosystems face various threats ranging from rapid population growth and increased fisheries exploitation, illegal fishing, and loss of mangrove cover, coupled with global environmental threats such as climate change and increased development pressures, which brings habitat degradation.??

Threats are resulting in the unsustainable exploitation of coastal resources; the loss of endangered, threatened, and protected species; and limited livelihood options for the local community.?

The high levels of poverty in Kenya’s coastal communities continues to drive degradation of marine ecosystems and threatens the long-term sustainability of resources which are vital to local livelihoods, food security, and community wellbeing.?

The session brings together community based organizations, youth and women leaders, national and county government and development partners to explore innovative solutions in developing sustainable economic opportunities underpinned on sustainable management of the ocean and marine ecosystems.

B-Blue Investments

Topic 4: Destination, Marketing & Branding, Strategies for Promoting Coastal Tourism

Overview?

Kenya's coastal region, renowned for its pristine beaches, diverse marine ecosystems, and rich cultural heritage, offers immense potential for tourism development.?

Kenya’s tourism sector registered an improved performance in 2023 compared to 2022. The number of international visitor arrivals increased by 35.4 percent to 2,086.6 thousand in 2023 surpassing the 2019 levels reaching a recovery rate of 102.5 per cent5

This session brings together tourism stakeholders with the objective of exploring strategies for promoting coastal tourism in Kenya through effective destination marketing and branding.

The session will reflect on the following key elements such as (1) destination branding through unpacking of Kenya’s current brand identity, positioning and messaging, (2) effectiveness of marketing strategies deployed by the various stakeholders (3) current product portfolio and respective value proposition and (4) Role and adoption degree of sustainability and conservation practices.?

Topic 5: Profiling Investment Opportunities & Climate Finance In Ocean Related Ventures.

Overview?

The blue economy presents opportunities for MSMEs and startups across a number of sectors such as fishing, aquaculture, tourism, ship building and repair, education and training, marine cargo handling, maritime law, safety and security, marine salvage, international shipping, transport, energy, bio-prospecting, offshore mining, marine bio-technology, blue data, aqua-business, cargo consolidation, freight forwarding, marine insurance, bunker supplies, ship-handling, port agency, port services, sports fishing, and marine governance.?

The session bring together venture capitalists, angel investors, entrepreneurs, government, development partners and entrepreneur support organizations (ESOs) to explore ; (1) Investment Potential of high growth blue economy sectors (2) climate finance opportunities (3) investment opportunities case studies (4) climate finance case studies focusing on gender and corals (5) investment strategies and positioning for Kenya and? (6) state of climate finance regulatory climate.?

Topic 6: Unlocking sustainable jobs and opportunities in the Ports, Maritime and Logistics

Overview?

The total value of output of Kenya’s transport sector rose by 17.6 per cent from KSh 2,878.3 billion in 2022 to KSh 3,383.8 billion in 2023. Air transport output improved by 43.0 per cent to KSh 324.4 billion in 2023. Postal and courier services output rose by 36.1 per cent from KSh 19.9 billion in 2022 to KSh 27.1 billion in 2023.?

The volume of cargo transported via Standard Gauge Railway (SGR) increased from 6,090 thousand tonnes in 2022 to 6,533 thousand tons in 2023, while the number of passengers increased by 14.1 per cent to 2,729 thousand in 2023.?

Cargo throughput at the port of Mombasa increased from 33,880 thousand metric tonnes in 2022 to 35,978 thousand metric tonnes in 2023. Container traffic rose by 11.9 per cent to 1,623.1 thousand Twenty-foot Equivalent Units (TEUs) in 2023.?

The number of ships handled at the Port of Mombasa rose by 17.6 percent to 1,835 in 2023. The number of TEUs handled by the Container Freight Stations (CFS) increased by 55.6 percent from 118,053 in 2022 to 183,667 in 2023 (KNBS Economic Survey 2024).

The session brings together national government agencies and county government, private sector businesses such as shipping lines, logistics companies, academia and development partners among others to explore ; (1) sector growth opportunities and challenges (2) sector sustainability in light of climate change and ocean sustainability (3) job creation opportunities (4) regional integration for enhanced competitiveness (5) technology adoption (6) regulatory reforms? (7) public private partnership and (8) skills development.

Topic 7: Case Study-Mombasa County - County Integrated Development Plan (CIDP) and 2024 Annual Development Plan (ADP) with a focus on Blue Economy

Overview?

The session is aimed at taking stock of blue economy programs implemented by coastal counties as enumerated under County Integrated Development Plan (CIDP) and evaluated in the 2024 Annual Development Plan (ADP)?

The session will further explore public private partnerships in supporting implementation of blue economy programs in the county as well as exploring enabling blue economy policy and regulations?

C- Climate Change

Topic 8: Nexus between greening and commercial interests in the Port, Maritime and Blue Economy business

Overview?

Kenya's ports, maritime, and logistics sectors play a crucial role in its economy, facilitating trade and supporting economic growth. However, these sectors also contribute significantly to environmental pollution and greenhouse gas emissions from port activities, such as ship emissions, cargo handling, and waste disposal, negative impacts of pollution on marine ecosystems, public health, and tourism.

The session brings together national government agencies and county government, private sector businesses such as shipping lines, logistics companies, academia and development partners among others to reflect and unpack how to balance between sector growth and sustainable practices. Specific areas to be discussed include (1) green Infrastructure and Technology (2) environmental Regulations and Standards, (3) sustainable Supply Chain Management, (4) green Financing and Incentives (5) Public-Private Partnerships (6) capacity Building and Awareness on environmental sustainability and promote best practices.

Further the session will feature a presentation by PwC on ESG adoption and sustainability goals for businesses in Port, Maritime and Blue Economy

Viffa is the knowledge partner to the summit organised by SOTE HUB as knowledge platform for stakeholders as we seek to continually support Kenyan SMEs and Startups through evidence based advocacy and data driven program design by ESOs

Im super stoked about the different types of conversations , outcomes and the outstanding speaker lineup set for the summit . The summit is open to all entrepreneurship stakeholders in Kenya , Africa and beyond . Register for the summit here :?www.blueeconomysummit.co.ke

Incase of any inquiries reach out to : [email protected] and [email protected]