President Uhuru Kenyatta sees off visiting President of the Democratic Republic of the Congo Felix Tshisekedi, at JKIA, Nairobi. The Democratic Republic of Congo has officially joined the East African Community (EAC) today adding its more than 90 million market population to the regional trading bloc.
The populous Central African country was today admitted as the seventh member of the East African Community during an Extra-Ordinary Summit of the Heads of State held virtually.
EAC Secretary General, Peter Mathuki in a report released by the secretariat on Sunday noted that by DRC joining, the community will open the corridor from the Indian Ocean to the Atlantic Ocean, as well as North to South, hence expanding the economic potential of the region. DRC shares borders with five of the partner states- Tanzania, Burundi, Rwanda, Uganda and South Sudan.
Seen as the key facilitator of DRC’s admission to the bloc, Kenya- which currently chairs the East African Community has in recent days intensified its investment interests in the populous country with the private sector deploying trade delegations to Kinshasa, Lubumbashi, Goma and Mbuji Mayi.
The Kenyan, DRC governments in partnership with the Equity group convened a 14-day business trade mission in the mineral-rich country between 29 th November and December 13, 2012.
This mission highlighted trade and investment opportunities in DRC which was part of the governments’ agenda of fostering regional trade and driving business growth by unlocking opportunities in East and Central Africa.
Ex-COMESA Secretary-General and former African Union Deputy Chair, Amb Erastus Mwencha tells the Standard that President Uhuru Kenyatta assumed the role of chief diplomat in rooting for Kinshasa. Kenyatta is the chairperson of EAC.
Amb Mwencha further calls DRC’s entry in the bloc as progressive saying it is aimed at achieving regional integration.
‘’This is what we want. Neighbours and Africans traded together. We have a lot that we can offer each other’’
Kenyan firms that have expressed interest in the DRC include Jubilee Insurance, Equity Bank and Kenya Commercial Bank (KCB), which have started a plan to enter the country through the acquisition of an existing lender.
According to Equity, through the trade fair, Kenyan corporates /SMEs (Small and Mid-size enterprises)/entrepreneurs got an opportunity to exhibit what they offer and partner with their counterparts in DRC, who similarly showcased their business offerings and sought to partner with Kenyan entrepreneurs.The Africa Development Bank projects that the DRC’s real GDP was expected to grow by 3.3 per cent […]
