YOUR BUSINESS IS OUR BUSINESS: Show me the colour of your Economy!

For quite a long time, Society heard and read of a ‘Green Economy.’ This not only “aims at reducing environmental risks and ecological scarcities,” but also targets “sustainable development without degrading the environment.” [Google for /en.wikipedia.org/wiki/Green_economy>].

Today, a ‘Blue Economy’ is the talk of the town, exciting Economists and other stakeholders alike!

But, experts have varied definitions of the phenomenon, although the oceans are central to it. [See ‘Hairsplitting: what is new in a blue Economy, pray?’ The Citizen: December 20, 2018].

According to the World Bank, for example, ‘blue economy’ describes “sustainable use of ocean resources for economic growth, improved livelihoods and jobs while preserving the ocean ecosystem.” [See ‘What is the Blue Economy?’ The World Bank: June 6, 2017].

The European Commission defines it as “all economic activities related to oceans, seas and coasts. It covers a wide range of interlinked, established and emerging sectors.” [The 2018 Annual Economic Report on EU Blue Economy’].

The (British) Commonwealth of Nations considers a ‘blue economy’ as “an emerging concept which encourages better stewardship of our ocean – or ‘blue’ – resources.” [/www.hydrant.co.uk>].

The US-based ‘Conservation International’ states that a ‘blue economy’ “also includes economic benefits that may not be marketed – such as carbon storage, coastal protection, cultural values and biodiversity.” [Bertazzo, Sophie (2018-03-07). ‘What on Earth is the ‘blue economy?’].

The World Wildlife Fund: “For some, ‘blue economy’ means use of the sea and its resources for sustainable economic development. For others, it simply refers to any economic activity in the maritime sector, whether sustainable or not!”

Finally, The Centre for the Blue Economy at the Middlebury Institute of International Studies, Monterey-USA, says “the term is widely used with three related but distinct meanings: the overall contribution of oceans to economies; the need to address environmental and ecological sustainability of oceans, and the ocean economy as a growth opportunity for developed and developing countries.”

However, they are all agreed that ‘Blue Economy’ is a term in economics largely relating to the exploitation and preservation of marine environments.

But, again, while experts concede that the scope of interpretation of ‘Blue Economy’ varies widely, they also nonetheless admit that a Blue Economy has the potential as a major source of wealth and prosperity for Africa.

If nothing else, this’d help to advance the African Union’s Agenda-2063, the UN Sustainable Development Goals Agenda-2030 – and Tanzania’s National Development Vision-2025 envisaging a semi-industrialised, middle-income economy.

Fair enough; and, so far, so good...

As a matter of fact, stakeholders and their well-wishers have organized an ‘Africa Blue Economy Forum (ABEF) () for June 25-26 this year in Tunis, Tunisia, intended to raise awareness of the economic, social and environmental benefits of a Blue Economy.

Speakers at the Forum are government officials from Gabon, Ghana, Morocco, Seychelles, Somaliland and Tunisia – named here strictly in alphabetical order, and not on any other merit.

So much, then, for Green and Blue Economies... to say nothing of a Red Economy... Or is it a question of ‘an economy in the red’ – a la ‘red ink’ in the sense of financial deficit or debt?

Anyway; where’s Tanzania in all this, pray: a Green, Blue or Red Economy stalwart? Cheers!