AFRICA's maritime stakeholders have raised concerns over the inability of the continent to take advantage of the crucial opportunities in the global marine industry without addressing significant challenges.
The stakeholders spoke at a marine and blue economy side event at the just concluded 29th United Nations Climate Change Conference (COP29), in Baku, Azerbaijan.
The event was organized by Dr. Dola Oluteye, Principal Investigator of University College London's Leading Effective Afrocentric Participation (LEAP) project, in collaboration with Nigeria's Ministry for Marine and Blue Economy, addressed Africa's maritime future.
Experts who spoke at the event which was hosted at the Nigerian include Dr. Dola Oluteye of UCL; Ms. Kidanua Gizaw from the African Development Bank (AfDB); Mr. Heaky Dimowo from Nigeria's Maritime and Safety Administration (NIMASA); Mr. Michael Mbaru from the Kenyan Maritime Authority; and Mr. Stanley Ahorlu, CEO of Prime Meridian Docks, who joined remotely.
The panel highlighted key issues, including ongoing International Maritime Organization (IMO) negotiations on greenhouse gas (GHG) emissions reduction in international shipping.
Mr. Ahorlu emphasized that Africa, which owns just 2% of the global shipping fleet, largely consisting of aging vessels, faces challenges in retrofitting its fleets with modern, competitive technologies. He urged aligning maritime investments with climate goals to attract funding, stating, "The private sector has a significant role to play in this transition. We need financial mechanisms that stimulate investment in maritime infrastructure."
Oluteye called for prioritizing investments in green infrastructure and renewable energy projects to position Africa as a global leader in renewable energy supply. With over 90% of Africa's trade relying on international shipping, she emphasized the economic urgency of restructuring regional trade and fiscal policies to address increased transport costs under IMO's GHG Emissions Reduction Strategy.
Highlighting Africa's abundant resources and youthful workforce, Oluteye described the potential for a "Green Industrialized Africa" powered by zero and near-zero emissions renewable energy. She cautioned against extractive energy production models that could exacerbate energy poverty, advocating instead for policies that place Africa's growth at the forefront. "This reshaping must prioritize Africa's development above exploitative practices," she said.
