BIRD STORY AGENCY
ON June 14th, experts in the blue economy and government officials from various African nations signed the Moroni Declaration in Comoros. This development expresses a shared goal and dedication to advancing the blue economy as an essential catalyst for growth, innovation, and resilience.
During the two-day ‘Blue Future Ministerial Conference on Blue Economy and Climate Action in Africa: Island and Coastal States at the Forefront,’ attended by over ten countries, leaders from Africa’s island and coastal states issued a declaration showcasing their proactive commitment to the preservation of oceanic and sea waters within their jurisdictions.
This declaration articulated their resolve to ensure that Africa’s blue economy thrives through sustainable development goals, thus nurturing responsible economic activities and exploitation. It also includes a commitment to advocate for African islands and coastal issues.
The African Union estimates that the continent’s Blue Economy generates nearly US$300 billion annually and provides employment for over 50 million individuals.
The sector holds significant economic value for the continent, with 38 countries bordering the sea and conducting approximately 90% of imports and exports via maritime routes.
However, studies indicate that the sector remains underexploited, hindered by conservation risks and technological and innovation challenges.
By addressing these limitations, the new declaration emphasizes countries’ conservation commitments and fosters collaborations that could unlock an additional economic value of up to US$405 billion by 2030, according to the AU’s Blue Economy Strategy paper.
The United Nations Economic Commission for Africa (UNECA) projects that fully sustainable exploitation of Africa’s Blue Economy could contribute up to US$1.5 trillion to the continent.
Notably, the declaration also throws its weight behind the Great Blue Wall Initiative, a transformative roadmap born in the Western Indian Ocean and driven by Africans, aiming to achieve a nature-positive world by 2030.
The initiative focuses on conserving at least 30% of the ocean, restoring critical blue ecosystems, and facilitating the development of a regenerative blue economy.
Ibukun Adewumi, a blue economy legal expert, emphasized the significance of collaboration, highlighting the potential of multilateral agreements to drive sustainable development and secure the planet’s long-term well-being.
“It is imperative that we foster collaboration among leaders, civil society, businesses, diaspora, and women and youth leaders to unlock the full potential of the blue economy and address the urgent challenges posed by climate change,” he noted.
Numerous countries are already willing to engage in bilateral collaborations with African nations, seeking to unlock and enhance economic value derived from maritime spaces.
One notable collaboration is between Seychelles and India. The two countries in February signed an MOU for maritime information exchange, a testament to the increasing interest in forging partnerships beyond African borders.
