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Innovative financing can unlock blue economy opportunities for MSMEs
Women harvesting seaweed used to make cosmetic products at an open beach in the Indian Ocean within the Kibuyuni village in Kwale County, Kenya on October 21, 2024.
Globally, blue economy, covering everything from fisheries and aquaculture to shipping, offshore energy, biotechnology, and coastal tourism, is valued at more than $ 1.5 trillion annually and is projected to double by 2030.
Beneath these sweeping figures, however, lies a stark truth: the bulk of activities is carried out by Micro, Small and Medium Enterprises (MSMEs). They are the fishers, processors, boat builders, seaweed farmers, and eco-tourism operators who keep local economies alive.
