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Originally published by The Standard BusinessSeptember 16, 2026
2h ago
Banks urged to finance investments in blue economy
Financial institutions are still hesitant to invest in the country’s blue economy despite the huge potential in the special economic zone (SEZ) and trade route...
✨ Key Highlights
Financial institutions are urged to increase investment in Kenya's burgeoning blue economy, estimated to be worth billions of shillings, despite current hesitancy due to perceived market volatility and regulatory uncertainty.
- The blue economy is described as a "sleeping giant" with immense potential to create millions of jobs and drive economic growth.
- Principal Secretary Aden Millah of the State Department for Shipping and Maritime Affairs is advocating for banks and other financial institutions to develop dedicated maritime financing products.
- Kenya's strategic location and extensive coastline offer significant opportunities, but the country currently owns less than 0.01 per cent of the global merchant fleet, leading to revenue export.
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