Ivory Coast Times

Ivory Coast Times

Business

CS Joho; Public-Private investments key to unlock blue economy opportunities


Mining, Blue Economy and Maritime Affairs Cabinet Secretary Hassan Joho is rooting for public-private participation to exploit Blue Economy opportunities.

CS Joho noted immense opportunities in the aquaculture value chain, fish processing and value addition, commercial fishing, fish ports and Fish Landing site infrastructure.

Others are manufacturing, transport, maritime, energy, and bioprospecting, which promote food security and create employment and wealth for millions of Kenyans.

‘Through technological innovations, sustainable practices, and focused investment, we have an opportunity to turn the tide and create a thriving, inclusive blue economy,’ stated CS

Joho said this in a speech read on his behalf by Principal Secretary for Maritime and Shipping Geoffrey Kaituko Wednesday at the Blue Economy Innovation and Investment Summit in Mombasa.

The three-day summit organised by Sote Hub is themed ‘Building an inclusive blue future’

CS Joho urged fisher folk to leverage technology- a game changer that h
as revolutionised fishing due to depleting fish stocks and environmental degradation.

‘By embracing modern technologies such as VMS, AIS, GPS, drones, and data analytics, we are now better able to monitor Fishing vessels, and fish populations, track fishing activities, and reduce bycatch, all while improving the efficiency and profitability of our fisheries,’ he stated.

‘Smart fishing technologies also provide real-time data on fish stock movements and water conditions, ensuring that our fishing practices align with sustainability goals. The integration of these technologies not only enhances the livelihoods of small-scale fishers but also ensures the long-term health of our marine ecosystems,’ he added.

He further emphasised the significance of Climate Financing noting that it offers a vital resource for funding projects that mitigate the impacts of Climate change on the Oceans while driving economic growth.

‘As we continue to profile investment opportunities, we must ensure that they align with sustaina
bility principles, generating both financial returns and social benefits for Coastal Communities,’ said the CS.

Meanwhile, Over 24 start-ups are participating in the summit in a bid to attract various investors to support their businesses.

Fredrick Nyoike, a 28-year-old innovator who is also a Co-founder and Production leader of a Start-Up based in Nairobi County, dubbed ‘Mega Gas Alternative Energy’ which deals with refining Plastic Waste to affordable gas for low-income families noted that the forum has been impactful as they can pitch their innovations.

‘For our impact to be felt, we are seeking funding totalling to Sh100milion so that we can meet various government regulations, to have enough gas cylinders circulating in the Community, and to open up more community kitchens not only in Nairobi but to other regions,’ said Nyoike.

He added that the business is focusing on establishing Community Kitchens since it is an open idea whereby they can provide cooking gas and stoves at the basic level hence one
can walk in with raw food and eventually get cooked food.

‘With the establishment of open kitchens within the Country, with only Sh30 a family can afford a meal on their table,’ stated Nyoike.

The idea targets women who suffer more from indoor pollution hence with affordable gas, they can combat the problem. Refilling the gas will cost Sh650, cheaper than the current market price.

On her part, the National Coordinator, Schools 2030, Aga Khan Foundation, Kenya, Halima Shaaban emphasized the role of Climate Education especially to the youth as they can use the knowledge to come up with business ideas within the Blue Economy Sector.

‘The youth of today will be the workforce of tomorrow hence they need to be equipped with the skills, knowledge, and mindset to lead in the blue economy thus to support young people with these skills we must support their teachers with such skills as well,’ she explained.

She further noted that Climate education must go beyond scientific understanding and should be tied to pract
ical skills that will be relevant in the future job market.

Sote Hub Director, David Ogiga highlighted numerous innovations that stood out through the Go-Blue initiative including Crab Shack Restaurant which deals with Crab Farming also leading in mangrove conservation.

In the last five years, the restaurant planted three million trees 3million trees planted in Kwale County.

Other innovations are the KUZA freezer an innovation in Solar cooling system and another start-up that deals in turning plastic waste into reusable Containers.

Source: Kenya News Agency