The Eastern Cape has set sail on a new wave of opportunity with the release of a groundbreaking study that highlights the vast potential of the province s Oceans Economy to drive growth, create jobs, and promote sustainable development. The findings were unveiled at the Provincial Oceans Economy Symposium held in East London this week.

Commissioned by the Eastern Cape Socio-Economic Consultative Council (ECSECC), the study is the first of its kind for the province and offers a clear picture of the value the blue economy adds to the region. It reveals that in 2023, the sector contributed R27.9 billion to the provincial GDP, generated R54 billion in total output, attracted R3.1 billion in investments, and supported more than 43,000 jobs.

Maritime transport, port operations, offshore oil and gas, and marine tourism emerged as leading contributors, while new opportunities are opening in offshore wind energy, shipbuilding, aquaculture, and coastal real estate.

Premier Lubabalo Oscar Mabuyane described the Oceans Economy as a powerful economic engine with the potential to transform the Eastern Cape s development landscape if harnessed responsibly and inclusively.” He said the province s 800 km coastline and its three strategic ports; East London, Gqeberha, and Ngqura, place it in a strong position to attract investment and tap into global trade networks.

To keep the momentum going, Premier Mabuyane announced the creation of a multi-disciplinary team to support the Provincial Oceans Economy Secretariat at ECSECC. The team will guide investment, unlock opportunities, and track progress.

Delegates agreed that the future of the Oceans Economy lies in balancing growth with care for the environment ensuring that communities benefit as the province s blue economy continues to expand.