Tanzania and other Western Indian Ocean countries have been urged to turn marine resources into bankable businesses by investing in value addition, technology, logistics and stronger market access rather than relying mainly on the sale of raw products.
Deputy Minister in the Vice-President’s Office (Union and Environment), Reuben Kwagilwa, said fisheries, seaweed, sea cucumber and aquaculture could generate greater economic returns if investors moved further along the value chain.
He said the opportunities lie not only in harvesting marine resources but also in processing them, improving technology, strengthening logistics and connecting producers to higher-value markets.
“Businesses and project developers need support to become investment-ready. Financiers need credible revenue models, good governance, and governments need to provide a predictable enabling environment for business,” Mr Kwagilwa said.
He said blended finance, guarantees, concessional capital and public-private partnerships could help reduce investment risks and enable businesses that struggle to secure conventional commercial financing to access capital.
Mr Kwagilwa was speaking during a business forum on sustainable blue-economy investment held as part of the 12th Conference of Parties to the Nairobi Convention (COP12), taking place in Dar es Salaam from October 6 to 9, 2026.
The forum, themed “Unlocking Investment, Innovation and Business Opportunities for Sustainable Blue Economy,” brought together government officials, investors, financial institutions, researchers, entrepreneurs and development partners to identify practical investment opportunities in the Western Indian Ocean.
Director General of the Zanzibar Fisheries and Marine Resources Research Institute (ZAFIRI), Dr Zachara Hamisi, said the ocean economy presents substantial opportunities in fisheries, aquaculture, marine products, tourism, blue carbon and biotechnology.
He said the global ocean economy is valued at about $2.6 trillion and is projected to reach $3 trillion by 2030, while a 2017 study estimated the value of the Western Indian Ocean economy at $13.9 billion.
“We are here today to discuss how we can be able to fix that amount circulating within our country's economy,” Dr Hamisi said, calling for greater investment to ensure more of the value generated from marine resources remains within local economies.
He said emerging opportunities in blue carbon, blue biotechnology and sustainable marine ecosystems could complement traditional activities such as fishing and aquaculture, but would require investment in technology, innovation and appropriate financing.
Mondy Muhando, Director of the Blue Economy Development and Coordination Department, said the major challenge was turning the region’s marine wealth into actual investment.
“Our challenge is to turn what we have into investment,” Ms Muhando said, calling for a shift from traditional business models towards approaches that bring together technology, finance, institutions, communities and entrepreneurs.
She said the success of blue-economy investment should not be judged solely by the volume of business generated, but also by whether activities remain sustainable and preserve marine resources for future generations.
Theuri Mwangi of the Nairobi Convention Secretariat and the United Nations Environment Programme (UNEP) said sustainable fisheries, aquaculture, blue carbon and marine tourism offered significant opportunities across the region.
He said investors and governments must first identify stakeholders, potential conflicts and overlapping interests while ensuring communities participate in the planning and implementation of projects.
“Now is the time for the private sector to get fully engaged in this,” Mr Mwangi said, stressing that financing models should include local communities so they can benefit economically while contributing to conservation.
Deputy Permanent Secretary in the Vice-President’s Office, Dr Maduhu Kazi, said the forum was intended to connect investors, financial institutions, researchers, innovators and entrepreneurs with practical opportunities in the marine and coastal economy.
He identified renewable energy, biotechnology, value addition and other marine and coastal enterprises as emerging investment areas, while highlighting investment readiness, access to finance and risk assurance as critical requirements.
“I invite participants to exchange practical experiences and identify practical businesses and investment opportunities, and to also build partnerships,” Dr Kazi said.
He said the ultimate measure of the forum's success should be the partnerships formed, projects developed, financing pathways identified and concrete actions taken after the discussions.