Mombasa: The coastal counties of Mombasa, Kilifi, Kwale, Lamu, Taita Taveta, and Tana River are set to harness their maritime resources to drive job creation and economic growth.
According to Kenya News Agency, the counties, which benefit from their proximity to the Indian Ocean, see 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 and Tana River Governor, Maj (Rtd) Dhadho Godhana, emphasized the potential for investment in the region’s abundant untapped marine and coastal resources. He affirmed the commitment to providing institutional support and a conducive business environment for investors in the blue economy sector, which includes fisheries, maritime biotechnology, aquaculture, tourism, and marine transport.
Governor Godhana highlighted that the ‘Jumuiya Ya Kaunti Za Pwani’ economic block aims to harness marine resources for socio-economic growth, food security, job creation, and climate resilience. Speaking at the ‘Kenya Go Blue: Green-Blue Bond Financing’ forum, he discussed the focus on unlocking capital for nature, people, and economic transformation through the Green-Blue Bond framework.
The new financing initiative is designed to create a unified platform for investors, streamline policies, promote sustainable resource management, and drive implementation. Godhana expressed that the Green-Blue Bond could be transformative, unlocking jobs and strengthening the blue economy, positioning the coastal region as a cornerstone of sustainable development.
The Go Blue project, backed by the national government and the European Union, aims to harness coastal resources to create jobs for over 3,000 youth and women, contributing to a sustainable blue economy. The country targets increasing the blue economy’s economic contribution from Sh40 billion to Sh350 billion by 2030.
JKP Chief Executive Officer Dr. Emanuel Nzai stated that they are focusing on sustainable fisheries, aquaculture, and maritime infrastructure to boost growth and create jobs. The debut sovereign green bond will support climate-resilient projects, including renewable energy and clean marine transport.
Dr. Nzai added that the pioneering bond instrument targets the blue economy by focusing on maritime infrastructure, cold storage facilities, and sustainable fishing. He emphasized the need to use marine resources for economic growth and job creation while preserving ocean ecosystem health.
He further mentioned that ‘Jumuiya Ya Kaunti Za Pwani’ is repositioning its blue economy strategy towards execution by unlocking bankable projects. With several counties establishing investment corporations, the region is now poised to package projects and pursue blended finance at scale.
