Kenya missing out on Sh90b from blue economy

Kenya is missing out on about Sh90 billion annually due to failure to come up with good policies that strengthen the maritime sector. Also, Kenya’s failure to set aside enough financial resources, as well as lack of training for cadres manning the sector, is responsible for the losses.

This is according to Nancy Karigithu, the Permanent Secretary in charge of Shipping and Maritime Affairs. “I am sure that the maritime sector has the potential to generate hundreds of thousands of jobs within its 15 sub-sectors and 87 areas of activity,” Ms Karigithu said.

She was speaking during a public lecture hosted by the Kenya Revenue Authority (KRA). The CS added that Kenya’s total maritime territory is as big as 31 of the 47 counties combined, or just over 42 per cent of Kenya’s land mass.

“Kenya does not offer bunkering (fuelling) services for ships plying its waters and his means that shipping firms have to carry enough fuel for the return trip. As a result, they carry fewer containers and pass on the cost to the Kenyan economy. If we set up the service, we would save billions of shillings on cargo and freight charges alone,” Karigithu said.

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