EABC chairman Jim Kabeho during a press conference announcing the launch
of EABC 20th Anniversary Celebrations & Regional Business
Excellence Awards at the Intercontinental Hotel, Nairobi, on January 10,
2018. PHOTO | DIANA NGILA | NATION
The region's governments have vowed to support efforts by the private sector to champion growth and boost regional integration.
Last
week, Uganda’s Prime Minister Ruhakana Rugunda and other leaders
attended celebrations for the East Africa Business Council’s 20th
anniversary in Nairobi, Kenya.
Dr Rugunda said the
private sector was helping deepen integration by harmonising policies in
order to grow intra-regional trade, attract more investments and
increase development.
“Since the inception of the EABC,
there has been progress towards achieving integration through policy
reviews, tax harmonisation, discussions on the Northern Corridor and
stakeholder engagements to improve the free movement of goods and
services,” Dr Rugunda said.
EABC is the umbrella body
for the private sector and corporate associations from the East African
Community — bringing together 54 associations and 108 corporate
members.
Observer position
In
2012, the body was granted an observer position at the EAC, which
enabled it to participate in relevant regional activities, a chance EABC
chairman Jim Kabeho said has helped the body to influence and advocate
formulation, implementation or review of different laws at a regional
level. This has helped improve the business and investment environment
in the region.
According to the 2015 EAC Trade and
Investment Report, total intra-EAC trade increased from $1.5 billion in
2005 to $5.1 billion in 2015, but non-tariff barriers like poor
infrastructure at the ports and along the main transport corridors
continued to impede regional trade.
Mr Kabeho said that
in the next three years, the EABC will rebrand in order to position
itself for the implementation of the COMESA-EAC-SADC Free Trade Area and
the African Continental Free Trade Area, launched in 2015 and 2018
respectively.
During the ceremony, several corporates were feted.
Regional
lender Equity Group Holdings was awarded the EABC Chairman’s Award and
Overall Best Regional Company while KCB was the Best East African
Financial Services Company.
Safaricom was named the
Best East African Company in Innovation while Bidco Africa Ltd and
Siginon Ltd got the Manufacturing and Transport and Logistics awards
respectively.
Nation Media Group won the East African Media Company award.
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