MOWCA Secretary General Dr. Paul Adalikwu Calls on Africa to Finance Its Maritime Future
At the opening of the first edition of the Blue Africa Conference and Exhibition (BACE), held on 13 and 14 August 2026 in Lagos, the Secretary-General of the Maritime Organization of West and Central Africa (MOWCA), Dr. Paul Adalikwu, made a strong call for a more sovereign Africa in the maritime sector.
Maritime wealth yet to be fully harnessed
Dr. Adalikwu emphasized that Africa possesses more than 30,000 kilometers of coastline, abundant fisheries resources, strategic trade routes, and enormous offshore energy potential. Despite these advantages, much of the value generated by maritime activities continues to benefit foreign interests, particularly in ship ownership, financing, insurance, and maritime technologies.
According to him, the continent must now move from a dependent maritime economy to becoming a genuine African maritime power.
A Maritime Bank of Africa in the making
One of the highlights of his address was the proposal to establish a Maritime Bank of Africa. The institution would finance key sectors of the blue economy, including:
- Ports and logistics infrastructure;
- African shipping fleets;
- Shipbuilding and shipyards;
- Fisheries and aquaculture;
- Offshore renewable energy;
- Maritime technology and security.
“No maritime transformation is possible without finance,” the Secretary General stressed, arguing that Africa must be able to fund its own maritime development.
Investing in corridors and human capital
Dr. Adalikwu also highlighted the need to better connect African ports with their hinterlands through efficient rail, road, and customs corridors, in line with the ambitions of the African Continental Free Trade Area (AfCFTA).
He further urged governments to invest more in training seafarers, engineers, scientists, maritime lawyers, and technology specialists, stating that Africa’s youth is its first infrastructure.
A call to action
In closing, Dr. Paul Adalikwu called on governments, the private sector, and financial partners to turn commitments into concrete actions through stronger maritime cooperation and transformative projects capable of accelerating the development of Africa’s blue economy.
