Africa: Africa's Blue Economy Generates Over $298 Billion Annually

What the report says

AllAfrica, carrying a report from Angola Press Agency, reported that the African Union’s Director of Blue Economy and Sustainable Environment, Hersen Nyambe, said Africa’s blue economy is now worth more than $298 billion a year. Speaking in Luanda on Wednesday, July 22, during the opening of the Third Africa Blue Economy Conference, Nyambe said projections in the “State of Africa’s Blue Economy 2026 Report” point to output reaching $405 billion by 2063.

According to the ANGOP report, Nyambe said the sector supports more than 40 million jobs, with employment expected to rise above 41 million by 2030 and a longer-term goal of more than 69 million jobs by 2063. The conference, held in Angola’s capital under the theme of political leadership for transforming Africa’s blue economy, is scheduled to end on Saturday, July 25.

Nyambe also highlighted constraints facing the sector, including a gap between policy design and implementation, and heavy dependence on funding from international agencies. He called for stronger participation by African governments in financing and advancing blue economy projects, saying more must be done to generate income and employment.

The report noted that Africa has five major marine ecosystems, including the Benguela system, which Nyambe identified as important for fisheries and maritime transport. He said about 200 million people depend on fish from these ecosystems, 12 million people rely on them for livelihoods, and 90% of continental trade moves by sea. The figures underline why maritime resources, fisheries, ports and ocean governance are central to Africa’s long-term economic planning.