The East African Business Council on Friday appointed Nicholas Nesbitt, the Chairman of Kenya Private Sector Alliance (KEPSA), as the new EABC Chairman for the period 2018/2019.

This was in Nairobi, Kenya, during the body’s 19th Annual General Meeting (AGM), the supreme policy making organ of the EABC.

Established in 1997 to foster the interests of the Private Sector in the Integration process of the East African Community (EAC), the EABC is the top regional body of Private Sector associations and Corporates from the six EAC countries.

Nesbitt listed the development of strategic networks as one of the key areas he will work on during his one-year term at the helm of the regional body.

"We will seek to; leverage the expertise at EABC and its broader network towards harnessing the private sector to spread economic development and prosperity, expand space for inclusive engagements in public private dialogues,” he said.

Nesbitt who takes over from Uganda’s Jim Kabeho is also the General Manager Eastern Africa, IBM East Africa Limited.

He said: "I have been participating in EABC activities as an Executive Committee Member and I know a lot has been achieved as EABC continues to be recognized in all spheres of the EAC integration process as the apex body of the private sector.”

He noted that intra EAC trade registered a decline of 10.1 per cent between 2013 and 2014 and a further decline of 14.6 per cent between 2015 and 2016 according to the EAC Trade and Investment reports (2015, 2016) and this was mainly attributed to restrictions on export of certain products to partner states as well as persistent non-tariff barriers.

"This is not a good signal for regional business and my tasks among others will be aimed at addressing the bottlenecks to intra EAC and ensure there is seamless flow of goods and services within the community,” said Nesbitt.

The new EABC chairperson noted that in March, "in the beautiful city of Kigali,” a key milestone in the continent’s integration efforts was achieved through the signing of the African Continental Free Trade Area (AfCFTA).

Close to 50 African Union Member States signed the AfCFTA, the Kigali Declaration and the Free Movement Protocol by order of interest, during the official opening ceremony of the 10th Extraordinary Summit of the AU Assembly of Heads of State and Government.

The AfCFTA aims at increasing cross border trade and investment thus enhancing market access for goods and services produced in Africa.

Nesbitt said: "This is a huge market for us as EAC private sector to tap into and during my tenure I will task the Secretariat to closely follow the developments at the Continental level through participating in AfCFTA activities and ensuring that the EAC private sector is represented and takes advantage of the opportunities that come with it.”

He pledged to advocate for policy and legislation that that promote growth and sustainability of the private sector, working with the public sector to identify opportunities for public private partnerships in key infrastructure development.

Among others, Nesbitt also said EABC’s membership will be further expanded with the support of national focal points in each of the six partner states, through value added services and business related networking events and trainings.

South Sudan private sector is also set soon join the organisation.

Community engagements are also on his to do list whereby he said his team will increase understanding the role and benefits of the private sector in the EAC amongst youth, women and other maginalized groups.

"Our engagement with our media partners will be paramount in enhancing visibility and the creation of awareness on private sector issues in the EAC region,” Nesbitt noted.

As far as resource mobilization is concerned, Nesbitt said they will work to ensure sustainability and high impact through increased and diversified streams of incomes.

The EABC also appointed vice chairpersons and Members of the EABC executive committee who strategically guide EABC’s mission to promote sustainable private sector driven growth.

The AGM convenes once a year to elect the executive committee headed by the chairperson and also receives an annual report on the initiatives undertaken before giving overall direction in line with the strategic plan.

The EABC Board of Directors consists of 22 members, headed by a chairperson, elected from the partner states on an annual rotational basis.

Each country nominates four members to the executive committee.

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