Maritime industry deliberates on effective financing of the maritime space

Some of the speakers

In order to ensure sufficient financing of the maritime space in West and Central Africa to harness the resources for economic development, stakeholders convened at the 17th Extraordinary General Assembly of the Maritime Organisation of West and Central Africa (MOWCA) yesterday.

The delegates from the over fifteen countries attending the conference are expected at the end of the conference to agree on a budget and an action plan for the progress of MOWCA.

Delegates are also expected to ensure that there is the promotion of Regional Corporation that will impact socio-political and economic integration of participating countries.

“We are gathered here in Accra once again to consider and make appropriate recommendations as experts protecting the interest of our countries and MOWCA,” Madam Mable Sagoe, the Chief Director at the Ministry of Transport, who represented the sector minister noted.

Stressing on the need to make sound investments in the maritime space, Madam Mabel noted that the maritime space holds enormous potential to develop the economies of West and Central Africa and so it was important to harness those potentials for sustainable development.

“Our maritime domain holds immense resources that when fully tapped, will provide our countries with significant additional resources to strengthen the ongoing development efforts, including food and energy security in our various countries,” she added.

The delegates at the conference

She, however, noted that effective regulation and policing of the space is difficult for any one member country to undertake due to the financial constraints on countries budgets, size of space and other factors hence the establishment of a body such as MOWCA.

She said the organization can help implement strategies that will ensure effective coordination and efficient utilization of resources and assets to grow the maritime space.

The Chairman of the Committee of Experts and Director-General of Ghana Maritime Authority (GMA), Mr Thomas K. Alonsi on his part assured that his committee which is in charged with the mandate of budget preparation said the committee ensures that it makes recommendations relevant to the course of the organisation.

“Members would also facilitate decision making on issues relating to the functioning of MOWCA and in the process ensure that the decisions are productive and align with the mandate and the organizations best interest,” Mr Alonsi said.

He also affirmed that the maritime space holds enormous potential to develop economies of member countries and so it is important to harness these potentials for sustainable development through efficient and effective functioning of bodies such as MOWCA.

He said based on the intended goals of the meeting, it was imperative that members of the committee worked in harmony.

The Secretary General of MOWCA, Dr Paul Adalikwu said the meeting very significant because the organizations success in the year 2023 will be dependent on the decisions that are taken.

He expressed confidence in the Committee of Expert by saying he trust they will do a good job that will be beneficial to members states and the maritime industry as a whole.

He said aside the issues of financing; the meeting will also examine how the organisation has performed over the years and reposition it well.

He said it will also be used to discuss activities in the coming years.

He thanked the government of Ghana for giving MOWCA the opportunity to host the meeting in the country.

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