The first East African Investment Conference held this week has served to illustrate the opportunities the region offers to potential investors. There are many other lessons that this conference has helped to illustrate. East Africa provides a huge market and a rich human and natural resource base that can spur social - economic transformation. All Heads of State of EAC who spoke during the investment conference at the Kigali Serena Hotel elaborated on what can be tapped by investors once they put their money in investment projects in East Africa. In the past, this column has argued that the East African Community leaders; both at the governmental and business levels, have been doing strategic repositioning so as to tap the benefits that accrue from economic integration. Rwanda’s leadership has been relentlessly wooing many world class business leaders and empires to come and do business in the country. Many have positively responded and have already set up serious investments in the country. From Nakumatt, to Dubai world and the Libyan Investment group, LAPGREEN, the story is endless. Rwanda is already seen as a country that is on the fast track to becoming an Information and Communication Technology (ICT) hub on the continent. The five countries that make up the East African Community have different strengths that reflect their past different economic development paths. Kenya is a bigger economy with better developed economic infrastructures compared to the rest. Through partnerships, the other countries in the regional bloc can learn a number of lessons from Kenya and at the same time benefit from its vibrant economy. Rwanda also has its own comparative advantages that offer benefits and lessons to the others. Rwanda has distinguished itself as a country that has been able to implement the zero tolerance for the corruption principle to the letter. There is yet another aspect unique to Rwanda, which though well recognized, is yet to be adopted by the rest of the EAC countries. Many people in positions of responsibility in Rwanda are men and women who can be categorized as youthful. When you look at the names of people heading different institutions, be it in the private sector or government, many can be categorized as young men and women. Rwanda Investment and Export Promotion Agency (RIEPA), a body that is credited with the success of the first East African Investment Conference, is headed by dynamic young people. These are personalities who have helped to showcase the fact that given the opportunity, young people can provide able leadership at different levels, be it in the private or public realm. Thus Rwanda has been able to demonstrate the importance of identifying young and talented people and trusting them with responsibilities that are traditionally thought to be reserved for the older generation. The success of Rwanda’s young government and private sector leaders is a lesson to the rest of the community and beyond. With the benefit of hindsight, one realizes that the current administration, upon assuming power identified the supreme importance of human resources above any other resource. This is an approach that is in a way similar to what post war Japan adopted in its efforts to realize economic progress. Many talented and young people were identified and sent to top western universities to pursue studies in fields that would later help to jumpstart the process of social economic transformation of Japan. This underlines the importance of developing the community’s human resource base. This is the most important resource that the region should base its hopes for realizing economic transformation. Other countries in the region ought to take lessons from this important policy whose results are there for all to see. Uganda has also been credited with having an education system that is highly competitive. Every country in the community has something that the rest can benefit from. This vindicates the vision of those who decided to revive the East African Community and the current leaders who have pursued regional economic integration with so much commitment. It is evident that a few years after the revival of the community, the benefits are already being enjoyed now. Many young people out cross borders to study in neighboring EAC countries. That many youngsters are traveling to other community countries to acquire education has far reaching implications on the future direction of the community. Contact: frank2kagabo@yahoo
