• Mozambique launches Blue Economy Satellite Account to track sector’s GDP impact
• ProAzul seeks $900M to fund fisheries projects, including MaisPeixe Sustentável
• Country uses under 50% of fishing capacity; aquaculture remains largely untapped

Mozambique’s Fund for the Development of the Blue Economy (ProAzul) has launched a Blue Economy Satellite Account (BESA). The tool is designed to measure the sector’s GDP contribution and collect economic data on marine and inland water activities, Club of Mozambique reported.

Prime Minister Benvinda Levi said the new system will support national planning and help attract public and private investment. She added that the account will help improve the sustainable use of marine resources and support economic growth.

The initiative aims to improve transparency in blue-economy sectors, strengthen the government’s ability to develop targeted policies, and build investor confidence at a time when the country is seeking major financing to modernize its fisheries industry.

Funding Gap in Fisheries

ProAzul said on Saturday that it needs $900 million to launch new projects. Local media reported that part of the funding will support MaisPeixe Sustentável (More Sustainable Fish), a program designed to boost productivity and incomes for artisanal fishers and support small and medium-sized enterprises in central and northern Mozambique.

According to the Mozambican Oceanographic Institute, the country has an estimated annual fishing potential of 937,581 tonnes. In 2022, it harvested only 455,544 tonnes, equal to 48.5 percent of potential. The gap is even larger in aquaculture, where production reached just 5,519 tonnes out of an estimated potential of 4 million tonnes, highlighting significant untapped capacity.

The government has allocated nearly 88.2 billion meticais (about $1.38 billion) to implement its Blue Economy Development Strategy (EDEA) for 2024-2033. The plan covers six priority areas: fisheries and aquaculture; renewable energy and marine extractive industries; natural-capital preservation and the circular economy; tourism and culture; maritime transport and port infrastructure; and maritime security.

 Stéphanas Assocle