Six nations adopt “Buy East Africa Build East Africa’’ initiative
By Daily News
“Buy East Africa Build East Africa’’ is the slogan to the initiative to bail the economies of the six regional countries to prosperity after Covid-19 pandemic.
The private sector associations and corporates in the East African Community (EAC) are pushing the recovery strategy/
It is a medium and long term approach as states have been called upon to provide support to key industries to expand their capacity and establish new industries to manufacture import substitutes in the region.
Under the East African Business Council (EABC), the sector has called for partner states to consider improving the business and regulatory environment to ensure formalization of businesses in the region so as to spur improving the economy of partner states.
EABC Chief Executive Officer (CEO), Dr Peter Mathuki, said that when the pandemic is over, or even now that it is being controlled by individual states as well as the East African Community (EAC) Secretariat, such actions will spare the EAC economies from the negative impact of Covid-19.
“There is need for EAC partner states to push for Buy East Africa Build East Africa (BEABEA).
Partner States need to provide support to key industries to expand their capacity and establish new industries to manufacture import substitutes in the region.
This will cushion the EAC economies from the negative impact of Covid-19,” said Dr Mathuki.
More