The AFRACA Blue Finance Training Workshop, held from August 12th to 15th, 2024, at PrideInn Hotel in Diani, Kenya, served as a dynamic platform for capacity building and knowledge exchange on matters blue economy and finance. With participants drawn from diverse institutions including Central Bank institutions, commercial banks, rural banks, representatives from producer organizations, academia and blue start-ups. The workshop highlighted the significant role of the blue economy in Africaâs sustainable development agenda which includes a range of traditional and emerging sectors like renewable energy, eco-tourism, seaweed farming and the nascent concept on blue carbon credits.
As the sector continues to evolve, there is a pressing need to increase the number of businesses operating within the Blue Economy and ensure that more people benefit from it. This involves stimulating investment in both existing and emerging blue economy sectors, which would help reduce pressure on traditional marine resources and activities.
Participants made pertinent recommendations for AFRACA to continue taking a lead role in advocating for progressive, inclusive financing in the blue economy sector and championing policy advocacy through legislative bodies. There was also a suggestion for AFRACA to organize an Advanced Blue Finance training course to further build on the outcomes of this workshop.
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