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[WATCH LIVE] Zuma hosts oceans economy briefing

President Jacob Zuma is briefing stakeholders and the public on progress that has been made in the Operation Phakisa Oceans Economy programme.

FILE: President Jacob Zuma chairing the Black Economic Empowerment Advisory Council workshop in Pretoria. Picture: GCIS.

CAPE TOWN – President Jacob Zuma is briefing stakeholders on the implementation of the Operation Phakisa Oceans Economy programme in Durban.

The project brings together representatives from government, industry, labour, civil society and academia to collaborate in unlocking the economic potential of the country’s oceans.
_
WATCH: President Zuma on Operation Phakisa Oceans Economy _

Operation Phakisa was launched in 2014 by the president, and was designed to find faster ways of implementing the National Development Plan priorities in various sectors.

In 2010, the ocean contributed about R54 billion to South Africa’s gross domestic product and accounted for approximately 316,000 jobs.

An analysis was conducted of nine sectors that comprise South Africa’s ocean economy. The ocean has a potential to contribute to the gross domestic product up to R177 billion.

(Edited by Shimoney Regter)

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