Nwabisa Budaza

Title : Unlocking economic potential: A comprehensive cost-benefit analysis of the seaweed industry in South Africa

Abstract:

The Cost-Benefit Analysis for the Seaweed Industry of South Africa explores the economic viability and potential for growth in the emerging seaweed sector within the country's broader aquaculture landscape. While South Africa boasts a diverse aquaculture industry, producing approximately 7000 tons of food fish in 2022, the focus has traditionally been on marine and freshwater species such as abalone, dusky Kob, mussels, oysters, tilapia, trout, catfish, marron crayfish, carp, koi-carp, and ornamental species. This study investigates the economic potential of the seaweed industry, acknowledging its recent introduction and significant potential for expansion. With an increasing global demand for seaweed-based products and the multifaceted applications of seaweed in various industries, South Africa stands to benefit from capitalizing on this emerging market. The analysis encompasses factors such as production costs, market prices, environmental sustainability, and the socio-economic impact of seaweed cultivation. Through a comprehensive examination of the costs and benefits associated with seaweed cultivation, the study aims to provide stakeholders, policymakers, and investors with valuable insights into the economic feasibility and potential returns on investment in the South African seaweed industry. Additionally, it explores the broader implications of fostering a sustainable seaweed industry, considering its positive effects on employment, environmental conservation, and the country's overall economic development. Ultimately, the findings contribute to informed decision-making and strategic planning for the sustainable growth of the seaweed industry in South Africa.

Key words; Aquaculture; Seaweed; Economic growth

Audience take-away:

• Attendees will gain insights into the economic viability, market dynamics, and sustainability factors associated with seaweed cultivation.
• The potential contributions of the seaweed industry to economic development, environmental sustainability, and job creation.

Biography:

Nwabisa Budaza, a South African professional, holds a master’s degree in Agricultural Economics. With expertise in aquaculture economics, research data management, and project coordination, Nwabisa has contributed to various sectors. Her roles include serving as a Senior Aquaculture Economist, Senior Research Data Manager, and Project Coordinator. She possesses strong analytical, communication, and leadership skills, grounded in a robust academic background. Nwabisa's diverse experience spans research, education, and government roles, making her a versatile and accomplished professional in her field.