Business leaders from the East African Community have expressed optimism about economic recovery as Covid-19 vaccination campaign gains momentum within regional countries. They echoed their optimism during discussions aimed to boost cross-border business operations and economic recovery and resilience during the Covid-19 pandemic. This came up during discussions between the CEO of the East African Business Council (EABC), John Bosco Kalisa, on September 23, when he paid a courtesy visit to Stephen Ruzibiza, the CEO of Rwanda’s Private Sector Federation (PSF). During the meeting, the two delegations discussed strategies for economic recovery and described vaccination as one of the key tools for EABC’s Build Back Better. “The vaccination is the only solution for us as our Build Back Better. It is the only solution we have if we are to fight against Covid-19,” Kalisa said. He said that there is a need to sensitize all the members’ business community and citizens to get vaccinated. The Government of Rwanda has now over 1.4 million fully vaccinated people which has raised hope among people in business. “I have seen the curfew hours have been reduced and it is a strong signal for recovery. It gives the business community that they can work for long hours,” he noted. He defined the move in vaccinating people as a positive signal to the investors coming to Rwanda that is open for business and investment. Stephen Ruzibiza, the CEO of PSF, urged EABC to champion regional vaccination campaigns as a better strategy for economic recovery in the EAC bloc. He said that the big number of players in the private sector in Rwanda in partnership with the government has been vaccinated, describing it as a big move to the recovery of the economy. Ruzibiza added that other sectors such as tourism, transport, and logistics have also been hit by the pandemic due to the increasing cost of trading and shipping. However, PSF and EABC have also agreed to collaborate in boosting tourism and exports to increase foreign exchange, collective investment, access to finance as well as reducing capital outflow and imports outside the EAC bloc. He said the private sector in Rwanda is working with the government in putting in place the measures. According to Kalisa, Rwanda’s private sector is on the right track. “This is clearly demonstrated in the recent updates by the Rwandan government in terms of the economic growth,” he said. He also urged for more bilateral engagements between national private sector associations to unlock trade barriers in order to accelerate the implementation of the resolution.
