South Africa: Steenhuisen Calls for Greater Investment in Africa’s Blue Economy

The Deputy Minister of Trade, Industry and Competition, Mr John Steenhuisen, has called for increased investment, innovation and strategic partnerships to unlock the economic potential of Africa’s blue economy, highlighting opportunities for industrial development, regional integration and sustainable job creation.

Addressing the BlueInvest Africa South Africa 2026 Conference in Cape Town today, Deputy Minister Steenhuisen said Africa’s blue economy was no longer a future opportunity but a present investment opportunity, with the potential to contribute significantly to the continent’s economic growth and development.

He noted that the blue economy contributes an estimated €350 billion to the African continent’s economy, with further opportunities in fisheries, aquaculture, maritime transport, ports and logistics, marine manufacturing, tourism, energy, biotechnology and ocean science.

“The question before all of us today is not whether opportunities exist. The question is how quickly we can develop bankable projects and mobilise the investment that is so important to unlock them,” said Steenhuisen.

He highlighted the importance of BlueInvest Africa as a platform that connects African enterprises with investors and strategic partners, helping transform innovative ideas into bankable projects and sustainable businesses that generate employment and economic value.

For South Africa, the development of the ocean economy aligns with national priorities to promote investment, strengthen industrial capacity, expand trade and create sustainable employment. With more than 3 000 kilometres of coastline along major international trade routes, the country recognises its oceans as strategic national assets and catalysts for inclusive economic growth.

Referring to Operation Phakisa’s Oceans Economy initiative and the draft Oceans Economy Roadmaps, Steenhuisen said South Africa was working to unlock economic opportunities across various sectors, strengthen regional value chains, attract investment and create sustainable jobs. These include marine manufacturing, ship repair, maritime transport, aquaculture and fisheries, offshore oil and gas, renewable energy, coastal and marine tourism, small harbour development, marine protection and ocean governance.

He also highlighted South Africa’s established shipbuilding capabilities, including the manufacture of yachts, tugs and patrol vessels through existing partnerships with European counterparts.

“In 2025, South Africa exported over R5.7 billion worth of ships. It was up from R2.5 billion in 2016, and we see ourselves as a shipbuilding partner to the rest of the continent for both the civilian and defence sectors,” he said.

He called for stronger regional and continental integration to develop interconnected supply chains and value chains, enabling African countries to retain a greater share of the economic value generated by the blue economy.

Steenhuisen emphasised that governments could not realise these ambitions independently, highlighting the importance of private investment, innovation and collaboration between governments, businesses, non-governmental organisations and communities that depend on the ocean economy for their livelihoods.

“Governments, much as they like to think so sometimes, cannot achieve grand ambitions alone. Private investment is fundamentally essential. Innovation is essential, and strategic partnerships are essential,” he said.

He further stressed that the growth of the blue economy must be underpinned by environmental sustainability and responsible management of natural resources. Healthy oceans, rivers, estuaries, mangroves and lakes are fundamental to the long-term viability of the sector.

He also highlighted the effects of climate change, including rising sea levels, coastal erosion, droughts, ocean warming and severe weather events, which place increasing pressure on ecosystems, infrastructure and communities dependent on water resources.

He said South Africa’s approach must place climate resilience, sustainable investment and inclusive economic growth at the centre of oceans and inland water governance and development, while ensuring that opportunities benefit vulnerable communities, small-scale fishers, entrepreneurs and emerging businesses.

The conference also provides an opportunity to deepen cooperation between Africa and the European Union, with investment, innovation, industrialisation and sustainable development increasingly shaping the relationship.

Steenhuisen encouraged investors and strategic partners to support African entrepreneurs and businesses developing solutions within the blue economy.

“Africa is open for business. Africa is open for investment, and Africa is open for partnership,” he said.

He said a strengthened Africa–European Union partnership could contribute to sustainable development, quality job creation, stronger regional integration and expanded continental trade.

Distributed by APO Group on behalf of The Department of Trade, Industry and Competition, South Africa.