City highlights blue economy opportunities at Ocean Innovation Africa

The City’s Mayoral Committee Member for Economic Growth, Alderman James Vos, this week welcomed guests from across the globe to Ocean Innovation Africa, a three-day summit focused on the opportunities – and challenges – of the blue economy.

Speaking at the summit’s opening, Alderman Vos noted the importance of oceans to the global economy. According to estimates from the African Union, the Blue Economy presently brings in close to US$300 billion for the continent and supports 49 million employment opportunities. These and other significant advantages, like food security, livelihoods, and biodiversity, are totally dependent on the condition of the oceans.

‘More than 90% of global trade takes place on sea routes and a coastline around this metro, contributing approximately R40 billion, or 10%, to the city’s annual GDP.

The value of oceans to economies, communities, or conservation can therefore not be overstated. As made apparent by the devastating effects of climate change, these three factors are inextricably linked,’ said Alderman Vos.

The ocean economy, said Alderman Vos, provided a huge space for people to work in a variety of trades, including engineering, architecture, science, design, and more.

‘And in trying to provide access for people into that space, we need to be cognisant of the physical and social environments concerned. This is why the City of Cape Town has established Blue Cape, our industry partner which focuses on research and skills development in all areas of marine manufacturing. Our aim is to create job and investment opportunities that will help more Capetonians to prosper,’ said Alderman Vos.

Ocean Innovation Africa is a platform that highlights African efforts and connects business people, scientists, investors, and other professionals that are attempting to have a good influence on our oceans. The annual conference brings together pioneers in the creation and application of sustainable ocean solutions from Africa and beyond, including policy makers, innovators, business owners, researchers, investors, and industry executives.