Africa's blue economy underdeveloped: AU official

The Chairperson of the African Union Commission on Thursday lamented that despite the abundant potentials, Africa still stands at a crossroads in relation to the accrued benefits presented by the blue economy.

Nkosazana Dlamini Zuma said this in her statement to the executive council of the extraordinary session of the Assembly of the African Union on maritime security, safety and development here in the capital Lome.

"Not more than 1 percent of seafarers and just 1.8 percent of ships globally are African owned, whereas over 90 percent of Africa's imports and exports are conducted by sea," she said.

The AU Commission Chairperson went on to say that "the consequence of this is that although exports and imports are processed through our oceans, seas and waterways, we are not receiving the requisite benefits, including the jobs".

For Africa, the economic value of the blue economy is estimated at over 1 trillion U.S. dollars with hundreds of thousands of job opportunities for young Africans.

Dlamini Zuma recalled that 2050 Africa Maritime strategy has been developed to foster increased wealth creation from the oceans and seas of the continent.

This will be achieved by developing the blue economy in a secure and environmentally sustainable manner, she said. Endit