The Kenyan government introduced a draft Kenya Maritime Investment Policy and Incentives Regime to participants in a Kisumu forum, seeking to draw both domestic and overseas capital into the blue economy.
The public participation event took place on Friday and was jointly organised by the State Department for Shipping and Maritime Affairs and the Kenya Maritime Authority.
The proposed framework aims to synchronise investment across the maritime sector, offering incentives for activities such as fisheries, port handling, shipbuilding, maritime transport and green energy, and Joseph Kabeku, director of maritime trade and development at KMA, said it is intended to make Kenya appealing to investors at home and abroad.
Fiscal benefits outlined include capital allowances, exemptions from Value Added Tax and relief from railway development levies and import declaration fees, while non-fiscal measures propose infrastructure upgrades, streamlined paperwork, better operational procedures and reforms to the legal and regulatory regime.
Gideon Mwangi, director of planning at the State Department for Shipping and Maritime Affairs, explained that the policy supports the blue economy, a priority in Kenya’s development agenda, and highlighted the nation’s roughly 640-kilometre coastline, its extensive Exclusive Economic Zone and inland waters covering about 10,700 square kilometres.
He added that these inland water bodies hold significant untapped potential for fisheries, minerals and other activities, stating, “These areas have huge resources. We have fish. We have minerals. We have other resources that have not been exploited to date.”
The incentives are designed to serve both large investors and small operators such as fishermen who require affordable gear, and Mwangi noted that access to financing and the role of Beach Management Units are key considerations.
The government is inviting comments from women, youth and persons with disabilities, with prior consultations held in Lamu, Kwale, Mombasa, Kilifi, Nakuru and Naivasha and a final round planned for Turkana; stakeholders may submit written memoranda through the websites of the State Department for Shipping and Maritime Affairs and the Kenya Maritime Authority.
