Articles

President Museveni Opens 3rd EAC Investment Conference

East African Community Secretariat, Arusha, Tanzania, 28 April 2010: His Excellency President Yoweri Kaguta Museveni of Uganda today opened the 3rd East African Investment Conference with a call to Development Partners to cooperate with the East African Community to deal with strategic bottlenecks bedeviling the development of the region. The President named inadequate electricity supply, poor roads and railway systems, and inadequate ICT infrastructure among these.
The President noted that the EAC Investment Conference, hosted at the Speke Resort in Munyonyo, Kampala this year, had become a major force for promoting East African integration and development, adding that the Investment Conference came at a time when there was great demand and focus on efficient and prudent utilisation of the region’s own resources and effective response to developments and trends in the global economic environment.
President Museveni said the establishment of the EAC Investment Conference stems from a clear recognition of the challenges, both internal and external, that the East African region faces as it strives to achieve regional competitiveness.
The challenges hinge primarily on the deficit of physical infrastructure, governance issues and human resource constraints in some critical fields. The problems of transportation of goods, including bureaucratic shortcomings, such as delays in clearing of goods at the ports of entry and exit; and moving trade along the highways, significantly impact business performance, noted the President.
He informed delegates that the EAC’s greatest asset was its abundant natural resources that have earned it the acclaim as a land of great opportunity. A key natural resource is water of which, with its many rivers and great lakes, the region had enormous potential.
Considering the region’s great need for advanced water management, conservation and utilisation systems, investing in the water sector alone, constitutes a major investment opportunity, President Museveni said, adding that the vast tracts of arable land the region is endowed with offer huge potential for investment in commercial agriculture, from livestock farming to horticulture, floriculture and agro-processing noted the President.
The President also spoke of the region’s mineral wealth and its tourism potential, both of which represent enormous investment opportunities. East Africa is blessed with sizeable deposits of soda ash, cement, fertilisers, gold, tanzanite, diamond oil and natural gas among others, while the region also boasts a wide array of flora and fauna as well as magnificent mountains, craters, lakes and rivers that guarantee attractive returns on investments in the hospitality and other service industries.
President Museveni disclosed that the EAC private sector development strategy together with the EAC regional industrialisation strategy; and EAC rural and agricultural development programme focus on creating opportunities for private sector partnership in the EAC integration and development.
This is in tandem with the preparation of the EAC Investment Policy and Strategy under which a transparent operating environment for investors is to be established where rules, regulations and administrative procedures are streamlined and harmonised. The President noted that phenomenal growth had been recorded in financial services, health care and education and ICT, which was among the fastest growing and most profitable sector of the regional economy with mobile telephony exceeding initial projections.
Uganda’s First Deputy Prime Minister and Minister for East African Community Affairs, Rt. Hon. Eriya Kategaya disclosed that inflows of Foreign Direct Investment (FDI) rose dramatically from US$692 million in 2002 to US$ 1.7 billion in 2008, resulting into an increase of FDI stock in the region to US$13.2 billion. He said Uganda and Tanzania were the leading recipients of FDI inflows, particularly through expansion projects relating to natural resource exploitation.
Hon. Kategaya noted that the most rewarding achievement was the intra-East African Community trade which indicate that in 2008, Uganda’s volume of trade increased by 87.9% to US$947.0 million from US$504.0 million in 2004. In 2008, Tanzania’s volume of trade increased by 65.3% to US$465.0 million from 281.3 million in 2004. In 2008, Kenya’s volume of trade increased by 91.6% to US$ 1,395.0 million from US$ 741.0 million.
The Minister also noted that the revenue collection by the individual Partner States in the region since the launch of the Customs Union in 2005 had greatly improved, citing growth in Kenya’s revenue collection from US$2,511.9 million in 2001/2 to US$6,538.3 million in 2007/8 and from US$300 million to US$650 million for Uganda in the same period.
In Tanzania, actual total tax revenue earnings continued an upward trend at a much higher average rate of 35.9% per annum from 2005/6 to 2007/8 compared to the average growth rate of only 23.3% attained between 2003/4 and 2004/5. “This is no mean achievement and pessimists have no cause to fear the integration of East African Community,” asserted Hon. Kategaya.
The Chairperson of the EAC Council of Ministers, Hon. Dr. Diodorus Kamala remarked that development of infrastructure was crucial for stimulating investments in many parts of the region whose potentials are yet to be exploited. Hon. Kamala reiterated that in order to unlock and unleash the existing potential and stimulate production and trade in the EAC economies, there is need to jointly invest, as public and private partners, in infrastructure development.
The Secretary General of the East African Community, Amb. Juma Mwapachu commended the work being undertaken by the region’s Investment Promotion Agencies in not only promoting their national investment agendas, but also for branding the EAC region as a preferable investment destination.
Amb. Juma Mwapachu affirmed that the entry of the Common Market from July this year would usher in a number of new opportunities which need to be exploited by the region’s entrepreneurs. “It is for this reason that this Investment Conference carried the theme “EAC Common Market: the Preferred Destination for Investment and Expanded Business Opportunities,” he said.
The Conference has attracted over 2,000 participants from within and without the region and runs until 30 April.

Come to The East Africa-Nigeria Summit and learn:

  • How to exploit the investment opportunities in the East African and Nigeria as well as promoting greater partnership between the public and private sector.
  • To develop continuous networking partnership that will be an excellent platform for potential investors that wish to explore the varied investment and trade possibilities East Africa and Nigeria.
  • How to benefit from intra African foreign  and local investments
  • How to craft/form partnerships and joint ventures between East Africa regional and Nigeria entrepreneurs and foreign companies.
  • Increased exports and import opportunities Simply put, The EANTI Summit and its Exhibition is all about trade and investment strategy and creating the environment for business deals and visibility across East Africa countries and Nigeria.

Register for The EANTIS events »

Download Sponsorship »

Prospectus »

Investors, Governments and Your

Clients come here to get updates on:

  • Trade and Investment Intelligence
  • Increasing partnership between East Africa and Nigeria, resulting to increasing employment opportunities
  • Increase of Nigeria companies establishing their office and operation in the region
  • Greater partnership between the Governments in the region and the Nigeria
  • Export and Import opportunities
  • Investment opportunities
  • Develop business deals and network

The EANTIS events promotes the advancement of trade and investment partnerships and opportunities in East Africa and Nigeria where huge rewarding businesses are done. If you are ready, come on and help grow these mega economies....this is your time and moment!!

Download Sponsorship »

Prospectus »

Register for The EANTIS Event and Exhibition »

Email us now for more details »

Exhibition

The exhibition area will provide the opportunity for organisations and vendors to demonstrate their services and products, and engage end-users in a relaxed and informal setting.
Unlike a traditional large exhibition or trade show, you will gain access to the strategic target audience during a time when the attendees are relaxed yet focused on discussing current developments in government and the industry. Our team of experienced event managers handle all administrative, marketing and promotional needs, leaving you free to concentrate on your own plans for the Summit and to generate new business.
If you need to know the latest trade and investment initiatives and exhibit your services and products to the high level participants you must attend.
Register now »
If you wish to access senior executives in East Africa's and Nigeria’s public and private sector, you need to be here. There are limited sponsorship opportunities.

Download Sponsorship »

Prospectus »

 

register

 

 

speaker

 

 

sponsor

 

Who should attend:

  • East African and Nigeria entrepreneurs and potential investors
  • Nigerian and East African producers looking for new markets
  • East African and Nigeria Government Officials
  • National Governments, State Governments, Ministries, Agencies and Parastatals
  • Banks and Corporate Investors
  • Institutions/Agencies
  • Transport Executives
  • Ports Authorities

Register for EANTIS Summit »

Download the brochure »

 

  • Custom and Exercise
  • Inland Revenue
  • Representative of Multinational
  • Corporations
  • Investment and Development
  • Bankers
  • IT Practitioners
  • Oil and Gas industry sector
  • Construction Companies
  • Infrastructure Specialists
  • Export and Import Agencies and
  • Associations

Download Sponsorship »

Prospectus »

 

  • National and International
  • Business Development
  • Consultants
  • Industrialists and Merchandise
  • Traders
  • Representatives of Non
  • Government Organizations
  • Representatives of National
  • Investment and Trade Agencies
  • and chambers of commerce
  • and Industry
  • Manufacturing Association,
  • Chambers of Commerce and
  • other industry Associations
  • Higher Education leaders