BLUE ECONOMY
South Africa adopted the Blue Economy as a new national priority and economic accelerator titled ‘Operation Phakisa – Oceans Economy’ in order to drive the high growth, diversification, resilience and sustainability of the national economy which had become stuck in low growth territory. The Blue Economy encompasses economic activities from and related to marine and aquatic spaces in the oceans, coasts and inland waterways and associated water resources. Globally and at the African Union the Blue Economy (BE) is defined as a sustainable development, use and integration of these marine and aquatic spaces, resources and related ecosystems in creating economic development with the goal to improving human well-being and lives, social equity and environmental protection.
