In a recent interview with African Business Founder and CEO of YME Bahamas Nikita Shiel-Rolle expressed that she focused on getting coastal communities involved in scientific research about climate change. She admits that there are barriers to entry since research equipment is costly and out of reach for many locals, but acknowledges the role that donors play in bridging this gap.
She highlights the importance of boosting the economic participation of local coastal communities in tourism – another key pillar in the blue economy besides scientific research. “The level of economic participation, whether it be in scientific research or tourism ventures, is heavily influenced by access to capital,” she explains, noting that this presents a significant barrier for many local communities in both Africa and the Caribbean.
“Tourism is not equitable. This is the dark side of tourism especially when the tourism sector is not owned by the people – and most of the time it is not. It is owned by foreigners who come in and create their vision and employ the locals.”
What gives the foreigners an edge over locals? “It’s about access to capital,” she says. “We have a very segregated financial system. In the Bahamas, for example, if you are an American or a foreigner, there is one reality, and if you are a local person there is a different reality. The ecosystem is more enticing and supportive for the foreigner who is coming in.”
Read full African Business article by Lennox Yeike here