To boost private investment in Africa's blue economy, innovative financial tools such as Blended Finance, which combines public and private funding, are essential. Catalytic funding involves philanthropic or Development Finance Institutions mitigating risk to attract private capital. National public policy tools, such as tax credits and subsidies, can also make "blue" sectors more appealing to private investors. "Private investors prefer stable and predictable activities. Regulatory and macroeconomic stability, along with ease of doing business, are crucial," said Joan Fulton, Senior Advisor at Ocean Assets.

Sustaining Our Oceans: Environmental Stewardship and Resilience

Effective marine resource management is vital for sustainability and resilience. São Tomé and Príncipe’s National Strategy for the Transition to the Blue Economy (ENTEA) and regional initiatives to curb illegal fishing, reduce pollution and preserve marine and coastal biodiversity underscore the importance of environmental sustainability.

Carlos Quaresma Batista De Sousa, Director of Blue Economy at São Tomé and Príncipe’s Ministry of  Economy, highlighted the country’s ambitious goals. By 2030, São Tomé and Príncipe aims to become a global reference for biodiversity conservation and sustainable development. Through sustained infrastructure development and a holistic blue economy strategy, the country seeks to transform into a hub for maritime services and responsible tourism, while also strengthening agriculture capacities and climate change resilience.

Inclusive Growth: Empowering Communities through Regional Cooperation

Ensuring the blue economy benefits all segments of society, especially Small and Medium-sized Enterprises (SME), marginalized groups, women and youth is essential for inclusive development.  “In African SIDS such as Cabo Verde, for instance, UNCTAD will be instrumental in fostering viable value and supply chains within and across industries by providing technical support to increase SMEs’ access to markets.” said Habiba Ben Barka, Chief of Africa Section, Policy Analysis and Research Branch of the Africa, Least Developed Countries and Special Programmes Division at UNCTAD. She also mentioned the importance of facilitating investment in key enablers such as renewable energy and digital infrastructure, which can help unlock growth and employment opportunities in the blue economy in Africa.

The AfCFTA enhances intra-African trade and regional integration. UNDP Africa estimates that investments in education, capacity building, and infrastructure for small-scale fisheries could create 100,000 jobs, benefiting marginalized groups, with 50% of opportunities directed towards women and 60% towards youth.

The UNDP and AUC have developed a joint program to support the blue economy, aligned with the Africa Regional Blue Economy Strategy. The Blue Economy Reference Group (BERG) exemplifies this effort, serving as a platform for stakeholders to reflect, plan, implement, and monitor blue sector development. Usman Iftikhar, Policy Specialist at UNDP Regional Bureau for Africa, highlighted BERG’s aim to “build bridges between Member States' and Regional Economic Communities' demands with partners' interventions and private sector opportunities.” He invited new partners to join the group, including the WTO, UNCTAD, and the African Development Bank.

The "Blue Futures" event at the WTO’s 9th Global Review underscored the immense potential of the blue economy to drive sustainable growth and inclusive development in African SIDS and coastal nations. By leveraging strategic alliances, innovative investments, and effective marine resource management, African countries can harness the full potential of the blue economy for a prosperous future.