Following the successful Oceans Economy Symposium hosted by the province in October last year, the government is moving with purpose of truly unlocking the coastal wealth. Bunkering services, which function as petrol stations in the ocean, are gaining momentum in the Eastern Cape, contributing to economic activity and job creation.

African Marine Solutions (AMSOL) invested more than R300m in two South African flagged tankers which are operating in Algoa Bay. The two tankers have created jobs, and local businesses are benefiting from AMSOL opportunities. Premier Oscar Mabuyane said the arrival of the MT Intrepid s bunker tanker in Algoa Bay also constituted a R150m investment into the Eastern Cape economy. This month, about seven youths from Cala, Lusikisiki, Gqeberha, eXhorha, Mthatha and Mdantsane, who are supported by African Oceans Careers, will go to the Philippines for cadet training and on their return, will be allocated to their ships to begin their full-time careers.

In 2026, the government will evaluate market opportunities, investment requirements and infrastructure development needs to capitalise on emerging opportunities in marine, aquaculture and fisheries. To diversify our markets and reduce exposure to protectionist-driven shifts in the global economy, we will continue to build trade, investment and people-to-people relations with partners in the Brics group of countries, nations of the Global South and the European Union.

We are worried about the compounding humanitarian and economic crisis in our sister country of Cuba, and we are calling for an end to economic sanctions, so that can rebuild their economy,” Mabuyane said.