By PATRICK BEJA
Africa may establish a maritime development bank to help finance the industry.
In resolutions made at the closure of the African Maritime Administrations and Ship Registrars’ conference in Mombasa at the weekend, delegates said the bank would help in the growth of the industry. They also supported the ownership of ships by Africans and employment of seafarers from the continent.
During the three-day conference held at the Whitesands Beach Resort in Mombasa, it was noted that unlike other sectors banks on the continent were not keen to finance acquisition of ships.
Transport PS Cyrus Njiru closed the conference attended by Kenya Maritime Authority Director General Nancy Karigithu and several maritime industry chief executive officers from about 30 African countries.
national fleets
The conference was on efforts to implement the African Maritime Transport charter developed by the African Union.
In his presentation, Maritime Organisation of West and Central Africa (Mowca) technical director Mamadou Mariko said the bank was necessary.
He said the bank would provide funds for individuals, institutions and organisations in the maritime sector.
Mr Mariko said funds would be used to acquire ships, finance shipbuilding and repair, offshore handling equipment, stevedoring equipment, cargo forwarding logistics and construction of port infrastructure. He said Mowca has since 2006 been pursuing the establishment of its maritime development bank. “The purpose of such bank is to provide sustainable financing for maritime projects and programmes,” he said.
Dr Njiru said maritime regulations should be broad to ensure effectiveness in preserving employment and national fleets.
He said the active role of African countries in domesticating international maritime conventions into national laws was a clear indication that the industry was demand-driven. “This explains why the majority of Africa’s ports are already at 90 per cent capacity and still growing,” he said.
