How Africa can gain from new global shipping levy

Malta flagged ship calls at the Port of Mombasa

A ship. The recent attacks on ships in and near the Red Sea by Yemen’s Houthi rebels have affected some of the world’s top shipping and oil companies. 

Photo credit: File | Nation Media Group

African ports stand to gain billions in new investments through maritime shipping decarbonisation initiatives, yet most policymakers remain unaware of these emerging opportunities.

Ships carry more than 90 percent of world trade but also produce significant pollution that warms our climate. Now, for the first time, there’s a proposal to tackle this pollution while raising money for climate projects through a global levy on shipping emissions.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.