By Benson Daniel
Somalia is seeking to unlock an estimated $2 billion annual potential from its fisheries sector as the government intensifies efforts to improve maritime security and position the country’s extensive coastline as a driver of economic growth.
President Hassan Sheikh Mohamud said Somalia was shifting its focus from the security challenges that have historically affected its waters towards using the country’s maritime resources to create jobs, expand trade and attract investment.
Mohamud made the remarks in Mogadishu during a two day conference organised by the Ministry of Ports and Marine Transport to promote the development of Somalia’s blue economy and strengthen maritime trade.
The president described Somalia’s extensive maritime domain as a strategic national asset capable of supporting economic growth, creating employment opportunities, improving regional connectivity and strengthening livelihoods.
Somalia has the longest coastline on mainland Africa, giving it significant access to marine resources and strategic shipping routes linking the Indian Ocean with the Gulf of Aden and wider international markets.
Despite this advantage, the country’s maritime economy remains largely underdeveloped. Fisheries contribute only a small share of national economic output, while limited infrastructure, weak value chains and security challenges have constrained investment in the sector.
Government officials and development partners have identified fisheries, maritime transport, port services, aquaculture and other ocean based activities as areas with significant potential for economic diversification.
The fisheries sector is particularly important. Existing assessments estimate that Somalia’s exclusive economic zone could generate fishery revenues of up to $2 billion annually if its marine resources are effectively managed and developed.
Unlocking that potential would require substantial investment in fishing infrastructure, cold storage facilities, processing plants, transportation networks and access to markets.
The government is also seeking to strengthen maritime security as a prerequisite for attracting investment. For years, Somalia’s waters were associated internationally with piracy and insecurity, although coordinated national and international efforts have significantly reduced piracy incidents.
Mohamud said the country wanted to change perceptions of Somali waters by demonstrating that the maritime domain could become a safe and productive economic zone.
Improved maritime security would also help protect local fishermen from illegal, unreported and unregulated fishing activities by foreign vessels, which have been identified as a major challenge to the development of Somalia’s fisheries industry.
The government has been strengthening its maritime institutions and enforcement capabilities as part of wider efforts to protect the country’s territorial waters.
Somalia has also taken steps to improve maritime safety, including the establishment of a Maritime Rescue Coordination Centre in Mogadishu to improve emergency response and strengthen the capacity of its maritime authorities.
Beyond fisheries, the government sees opportunities in shipping and logistics. Somalia’s location along major international maritime routes gives it the potential to become an important gateway for trade between East Africa, the Middle East and other global markets.
The country has several operational ports and is seeking greater private sector participation in port development, logistics and maritime services.
A stronger maritime economy could also benefit Somalia’s neighbours by improving regional trade links and providing additional routes for the movement of goods.
For investors, the development of Somalia’s blue economy could create opportunities across fisheries, aquaculture, port infrastructure, marine transport, tourism and renewable energy.
However, unlocking these opportunities will depend on continued improvements in security, governance, infrastructure and the regulatory environment.
The government will also need to ensure that the exploitation of marine resources is sustainable and that coastal communities benefit from increased economic activity.
The renewed focus on the blue economy comes as Somalia continues efforts to diversify its economy and reduce dependence on traditional sectors.
If successfully implemented, the strategy could transform the country’s coastline from a longstanding security concern into a major source of employment, investment and government revenue.
For Somalia, securing its waters is therefore increasingly being viewed not only as a national security priority but also as an essential foundation for unlocking the economic value of its maritime resources.
Leave a comment