President Ruto Announces Ksh1.7 Billion Grant for Coastal Fishing Groups to Boost Economic Development

President William Ruto has announced a Ksh1.7 billion grant allocation to support 612 fishing groups across five coastal counties: Mombasa, Tana River, Kwale, Lamu, and Kilifi. These regions are renowned for their rich marine resources and vibrant fishing communities.

“Fishing is a crucial part of our Bottom-Up Economic Development Agenda. We are investing in our blue economy to unlock its immense potential,” President Ruto stated during the announcement.

This strategic investment is expected to generate over Ksh120 billion annually and create numerous job opportunities for young people in the region. President Ruto, who was accompanied by Mombasa Governor Abdulswamad Shariff Nassir at the ASK Nyali event on July 26, emphasized his administration’s commitment to the economic empowerment of coastal communities.

“I promised the local fishermen that I would return, and I am bringing good news. I have allocated Ksh800 million to the fishing sector to ensure that young people have opportunities to earn a living,” he said.

The initiative is part of a broader Economic Stimulus Plan aimed at revitalizing various sectors of the economy. A significant component of this plan is the construction of the Watamu Market in Malindi, slated for completion by December 2024 at a cost of Ksh50 million. This market is one of eight new markets introduced by President Ruto in the region, designed to enhance local commerce and provide better facilities for vendors.

The initiative has been well-received by local leaders and fishing communities, who view it as a much-needed boost to their economic prospects. With improved infrastructure and financial support, the coastal fishing industry is set for substantial growth, promising a brighter future for residents of Mombasa, Tana River, Kwale, Lamu, and Kilifi Counties.

President Ruto continues his tour of the coastal region, launching various development projects and communicating key milestones of his administration’s development agenda.