Written By Lisa Murimi
In a significant boost to Kenya’s blue economy, President William Ruto has announced a Ksh1.7 billion grant for 612 fishing groups across five coastal counties.
The funds will benefit Mombasa, Tana River, Kwale, Lamu, and Kilifi Counties, known for their rich marine resources and vibrant fishing communities.
“Fishing is a cornerstone of our Bottom-Up Economic Development Agenda,” President Ruto said during the announcement.
“We are investing in our blue economy to unlock its immense potential.” This investment is expected to generate over Ksh 120 billion annually and create thousands of job opportunities for local youth.
The President underscored his administration’s dedication to economic empowerment in coastal regions, revealing that Ksh 800 million of the grant is specifically allocated to provide young fishermen with viable livelihood opportunities.
This initiative is part of a broader Economic Stimulus Plan aimed at revitalizing various sectors.
In addition to the fishing grant, Ruto highlighted the upcoming construction of the Watamu Market in Malindi, part of eight new markets planned for the region.
Set to cost Ksh 50 million and be completed by December 2024, the market aims to enhance local commerce and support vendors.
Local leaders and fishing communities have welcomed the initiative, viewing it as a significant step towards improving their economic prospects and infrastructure.
