South Africa’s ocean economy has drawn over R4 billion in investment!

South Africa’s ocean economy has become a focal point for investment, drawing in over R4 billion, a significant achievement largely bolstered by government initiatives aimed at harnessing the nation’s maritime potential over the past decade.

Key estimates from the Oceans Economy Master Plan predict that South Africa’s ocean economy could contribute R166 billion to the Gross Domestic Product (GDP) and create over 600 000 jobs by 2035.

This ambitious projection pivots on four essential areas: aquaculture, fisheries, coastal tourism, and marine conservation, particularly benefiting coastal provinces grappling with high unemployment rates.

The Operation Phakisa programme, launched by the government in 2014, has been instrumental in unlocking the immense economic potential of South Africa’s maritime environment.

This initiative has propelled aquaculture into the forefront of marine sector activity and employment, setting the stage for innovative growth.

Source: Cape Town etc