President William Ruto has set an ambitious goal of generating Sh120 billion from Kenya’s blue economy within the next three years. This bold vision places a substantial responsibility on newly appointed Cabinet Secretary and former Mombasa Governor Hassan Joho. President Ruto has outlined a comprehensive plan for revitalizing the sector, emphasizing tangible results and direct benefits for the Kenyan people.

Ruto’s blueprint for the blue economy represents a significant shift from previous strategies, which largely focused on bureaucratic processes and infrastructure development. Instead, the President advocates for a people-centric approach, aiming to improve the livelihoods of coastal communities directly.

A Shift in Focus

One of the cornerstone elements of Ruto’s strategy is the empowerment of small-scale fishermen. The government has already distributed Sh1.7 billion to 612 fishing groups to enhance their capabilities. Additionally, the President has announced plans to acquire 25 deep-sea fishing vessels, aimed at expanding Kenya’s fishing grounds and increasing catches.

In a historic move, Kenya has licensed its first industrial fishing vessel capable of extended deep-sea expeditions. This vessel is expected to generate Sh4 billion annually, and the government aims to have a fleet of ten such vessels by 2027.

Infrastructure and Capacity Building

To support the burgeoning blue economy, the government is investing heavily in infrastructure. The construction of a Sh2.6 billion fishing port in Shimoni, Kwale County, exemplifies this commitment. Furthermore, the establishment of a National Mariculture Resource and Training Center aims to equip fishermen and women with the skills necessary to maximize the blue economy’s potential.

Challenges and Opportunities

While the government’s ambitions are commendable, several challenges lie ahead. The success of the blue economy agenda will hinge on effective governance, combating illegal fishing, and addressing environmental concerns.

Nevertheless, the blue economy offers immense potential for job creation, food security, and export earnings. If executed effectively, Ruto’s vision could transform Kenya’s coastal regions and significantly contribute to the country’s economic growth.

Joho’s Task Cut Out

Hassan Joho, charged with bringing Ruto’s blue economy vision to fruition, faces a formidable task. He must navigate complex issues, secure investments, and ensure the equitable distribution of the blue economy’s benefits.

As a former Mombasa governor, Joho brings invaluable experience in coastal affairs to his new role. However, the pressure to deliver results will be intense, given the high expectations set by the President’s ambitious goals.

The Road Ahead

The success of Kenya’s blue economy initiative will be closely monitored both domestically and internationally. Effective harnessing of ocean resources could position Kenya as a model for other coastal nations.

The coming months and years will be crucial in determining whether Kenya can realize its blue economy ambitions. With careful planning, diligent execution, and robust collaboration, the country could unlock a new chapter of economic prosperity. President Ruto’s vision, though a gamble, represents a significant opportunity for Kenya to leverage its natural resources for sustainable development and improved livelihoods for its people.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

29th July, 2024