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

What the report says

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

According to the ANGOP report, Nyambe said the sector supports more than 40 million jobs, with employment projected to rise above 41 million by 2030 and potentially exceed 69 million by 2063. He also pointed to Africa’s five major marine ecosystems, including the Benguela system, as important for fisheries and maritime transport. The report said about 200 million people depend on fish from these ecosystems, while 12 million rely on them for livelihoods, and that 90% of continental trade moves by sea.

Nyambe also warned that the sector’s expansion faces implementation and financing challenges. He cited a gap between policy commitments and practical delivery, as well as heavy dependence on funding from international agencies, and called for stronger participation by African governments in generating income and employment from marine and coastal resources.

The conference in Angola’s capital is being held under the theme “Political leadership for the transformation of Africa’s blue economy” and is scheduled to run until Saturday, July 25. The figures matter because they frame oceans, fisheries, ports and related industries as a significant part of Africa’s long-term economic planning, while highlighting the need to translate strategies into projects.