State Department Holds a Medium-Term Expenditure Framework Stakeholders’ Engagement Forum at Bandari Maritime Academy

The Principal Secretary, State Department for Shipping and Maritime Affairs, Mr. Aden A. Millah, has called on Kenya’s financial institutions to take a more active role in financing the country’s shipping and maritime sector, describing it as a “sleeping giant” with immense potential to drive jobs, investment and economic growth.
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‎Speaking during the FY 2027/28 and Medium-Term Expenditure Framework Stakeholders’ Engagement Forum at Bandari Maritime Academy, PS Millah said Kenya’s strategic location, extensive coastline, vast Exclusive Economic Zone and dependence on maritime transport for international trade provide a strong foundation for a thriving maritime economy.
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‎“It’s high time that Kenya’s financial institutions must be part of Kenya’s shipping and maritime journey. Our financial institutions must understand and support maritime investments,” PS Millah said.
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‎He emphasised the need for stronger partnerships between Government, financial institutions, private investors, development partners, counties, academia and industry to unlock opportunities across shipping, logistics, maritime training, ship repair, marine insurance, infrastructure, inland water transport and other blue economy activities.
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‎The State Department is prioritising interventions aimed at creating jobs, attracting private investment, strengthening Kenya’s shipping capacity and positioning the country as a competitive maritime and logistics hub.
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‎“The maritime sector must become a stronger source of jobs, investment, trade, innovation, revenue and sustainable economic growth,” PS Millah said.
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‎The forum brought together Government agencies, State corporations, county governments, development partners, private sector representatives, professional bodies, academia, civil society and maritime industry stakeholders to shape priorities for the FY 2027/28 and Medium-Term Budget.