Serrari Group

Kenya and the European Union recently cemented their trade relations through the Economic Partnership Agreement (EPA), paving the way for increased European investments in Kenya. As part of this collaboration, the European Commission Directorate-General for Maritime Affairs and Fisheries (DG MARE) is preparing for the second edition of BlueInvest Africa 2024, slated to take place in Diani, Kwale County.

Scheduled for July 3 to July 4, 2024, the event aims to catalyze sustainable development in the blue economy sector. With Kenya’s Minister of Mining, Blue Economy, and Maritime Affairs, Salim Mvurya, leading the initiative, the conference anticipates participation from key stakeholders across Africa.

Minister Mvurya highlighted the significant contribution of the blue economy to Kenya’s GDP during a recent press briefing, aiming to triple its current earnings to KSh 120 billion annually. European Union Ambassador to Kenya, Henriette Geiger, emphasized the conference’s alignment with the EPA, envisioning a future where trade becomes more sustainable and profitable, particularly through sea transport.

Six Kenyan companies have been selected to showcase their blue economy projects at BlueInvest Africa 2024, representing sectors such as fisheries, aquaculture, renewable energy, and marine pollution mitigation.

With funding from DG MARE and support from the Kenyan government, BlueInvest Africa 2024 promises to be a collaborative effort in shaping the future of Africa’s blue economy. As the world increasingly prioritizes sustainable economic growth, this event emerges as a crucial platform to leverage Africa’s maritime resources for prosperity and environmental stewardship.

Photo source Google

By: Montel Kamau

Serrari Financial Analyst

11th April, 2024

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