The coastal counties of Mombasa, Kilifi, Kwale, Lamu, Taita Taveta and Tana River are set to harness their maritime resources for job creation and economic growth.
Their proximity to the Indian Ocean presents enormous opportunities in sectors such as fisheries, marine transport and logistics, hospitality and tourism as well as offshore energy.
‘Jumuiya Ya Kaunti Za Pwani’ (JKP) Chairman who is also the Tana River, Governor Maj (Rtd) Dhadho Godhana, says the coastal counties with abundant untapped marine and coastal resources are safe for investment and have a lot to offer.
“We are committed to providing the necessary institutional support and conducive business environment for investors to thrive in the blue economy sector,” he said.
The blue economy sector also known as the sustainable ocean-based economy encompasses fisheries, maritime biotechnology, aquaculture, tourism and marine transport and logistics.
Governor Godhana says the ‘Jumuiya Ya Kaunti Za Pwani’ economic block seeks to harness marine resources as engines of socio-economic growth, food and nutrition security, job creation and climate resilience.
Godhana was speaking at a forum dubbed ‘Kenya Go Blue: Green-Blue Bond Financing’ framework that seeks to chart a bold innovative path for financing sustainable development.
He said the forum focused on unlocking capital for nature; people and economic transformation through the proposed Green-Blue Bond framework.
Godhana explained that the new financing initiative aims to create a unified platform for investors, streamline policies, promote sustainable resource management and drive implementation.
He says the debut Green-Blue Bond is emerging as a transformative, jointly owned instrument, one that could unlock jobs; strengthen the blue economy and position the coastal region as a cornerstone of national and global sustainable development.
The Go Blue project, an initiative by the national government and the European Union, aims to harness coastal resources to achieve a sustainable blue economy and bring jobs to over 3,000 youth and women.
The country is aggressively investing in its blue economy to drive sustainable development targeting a growth in economic contribution from Sh40 billion to Sh350 billion by 2030.
Godhana expressed optimism that the Go Blue summit would attract investors to the coastal counties thereby accelerating the pace of development in the blue economy sector which he described as the ‘next great economic frontier’.
JKP Chief Executive Officer Dr. Emanuel Nzai Says they are actively driving investment into the blue economy sector by focusing on sustainable fisheries, aquaculture and maritime infrastructure to boost growth and create jobs.
Dr. Nzai says the blue economy offers the coastal counties many investment opportunities for transformative reality for the current and future generations.
He says the debut sovereign green bond will support climate-resilient projects like renewable energy and clean marine transport.
The JKP top official says the pioneering bond instrument is also targeting the blue economy by focusing on maritime infrastructure, cold storage facilities and sustainable fishing.
“We need to use marine resources for economic growth, improved livelihoods and jobs while preserving the health of the ocean ecosystem,” he said.
He says the ‘Jumuiya Ya Kaunti Za Pwani’ is repositioning its blue economy strategy toward execution by unlocking bankable projects and accelerating delivery across the maritime sector.
The JKP CEO says with several counties already establishing investment corporations, the coastal region is now poised to package bankable projects and pursue blended finance at scale.
By Hussein Abdullahi
