EAC business leaders root for political stability

EABC says that a conducive business and investment environment does not only enable the private sector to thrive but also boosts economic growth and social development.

Briefing the press after the council’s board meeting, Chairman Felix Mosha (pictured) called on EAC’s heads of state to sustain political stability at any cost saying it was indispensable to businesses to thrive and economies to grow.

He appealed to the leaders to address the political confusion in South Sudan, which is sending negative signals and messages about the bloc in regional and international markets. According to him, the EAC faces different challenges for business and investment that respective countries should quickly fix.

“Each country in the regional bloc faces dissimilar challenges which need to be addressed to boost trade and investment between the countries,” Mosha said.

EAC Secretary General Ambassador Liberat Mfumukeko pledged to work closely with the regional business community and assured the entrepreneurs that he will support their endeavour to operate in the bloc without hindrances.

It was the first meeting for the EAC’s top technocrat and the business community in bloc since Mfumukeko took over the position.

“I pledge to closely cooperate with the EABC in addressing various challenges facing the private sector within the bloc,” he promised.

Delegates at the meeting urged member countries in the EAC to put in place favourable and harmonised policies to link business persons in the regional grouping.