A glimpse of economic recovery
With Yaba Odongo Odoyo (photo byline)
There is a change of nature as the light is glimpsing at the end of the tunnel towards economic recovery and stability, though with moribund of challenges experienced and faced since the country gained independence in 2011. As pundits ask the question, “Is it possible?’
Turn-about is being brought home by the recent reorganization of the “economic cluster” under a team headed by Vice President, Dr. Benjamin Bol Mel. Although this is not a one man show, some serious elements of improvements are starting to be seen. With collective support, the road forward is promising and can be achieved without the interference of external powers.
It is clear that such success will or may not be received well by the Western powers who in all circumstances believes that African countries cannot succeed on their own.
As much as the road-map is promising, l am very skeptical about the reliance on support from the West whose aim rotates in dangling carrots to gain their personal interests in the continent and beyond. My critics should spare me because I have friends and colleagues across the borders. The only thing I detest is the dominance and slavery applied by some powers towards the continents populates. Those countries standing on their ways and against their will have had stories to tell. Paul Kagame of Rwanda seems to have stood his ground against the intended oppression. This is what Burkina Faso’s president Capt. Ibrahim Traoré has done, and he is already making a stunning economic development within his two years. They are already trying to reach him with goodies that will only be short-lived if not stopped. Remember there are more than 13 recorded leaders in the continent who have met the wrath of the external powers for refusing to tore their lines.
Back home, the Ministry of Finance and Planning (MoFEP) is responsible for economic development and, the Vice President for the Economic Cluster, Dr. Mel plays a significant role for the improvements. The current man at the head of economic cluster has a daunting task ahead and should rely heavily on some of the proposed actions as indicated here-below. All in all, he will need collective support from all players and the country to succeed.
Late last year, at the 24th East African Community (EAC) meeting in Juba, the government emphasized that the Micro, Small and Medium Enterprises (MSMEs) was the backbone of economic growth in East Africa and the key to inclusive in wealth creation.
Speaking during the official opening the then Vice President James Wani Igga who was overseeing the economic cluster docket underscored the critical role that MSMEs play in driving economic growth by creating jobs and fostering innovation.
“It is worthy to emphasise the importance of trade fairs and exhibitions like this one in creating opportunity for exhibitors to showcase their product, access new market and form cross border partnerships,” said the Vice President.
Igga called upon all the Partner States to formulate policies that facilitate free trade, free investment and free movement of goods and people across the borders with single objective of realization of the vision of the Community.
He equally stressed the importance of increasing efforts to unlock the trans-formative potential of MSMEs by connecting them to the opportunities available under the single African Market facilitated by free movement of persons, goods, services and investment across national borders. He reaffirmed South Sudan’s commitment to implementing policies that support MSMEs.
“This includes improving infrastructure, and technology resources, ensuring that businesses can grow and compete both locally and internationally,”
He told the meeting that the objective of MSMEs is to show how the collective expo can build an integrating regional economy that could compete in the continent as well as globally.
The EAC top official in charge of Customs, Trade and Monetary Affairs, told the meeting that 24th MSMEs Forum was more than an exhibition but an opportunity for small and medium scale traders to shine, connect and grow from local artisans to tech-savvy innovators. “Micro, Small and Medium Enterprises (MSMEs) play a crucial role in the economic development of East African countries, accounting for 90% of businesses and 80% of employment especially among youth and women and are becoming hubs of innovation,”
She said that as the EAC celebrates 25 years of existence, the MSMEs trade fair was one significant milestone that the EAC had achieved.
“I am informed that the registered number at this year’s trade fair business persons is standing at 1,500. This being the first time Juba is hosting such event with such large numbers and participation of all eight Partner States demonstrates the strengthening of EAC integration,” added Ms. Ssemuwemba.
The official committed the readiness of the EAC Secretariat to continue creating an enabling environment by supporting the application of the provisions of the Common Market Protocol, maximising the use of the Customs Union Protocol and implementation of trade facilitation programmes including the Simplified Trade Regime, the One Stop Border Posts, EAC Mobile NTB Elimination Application, E-commerce, harmonization of Standards and even ease of crossing borders using national identity cards to support the MSMEs.
Those present at the official opening of the trade fair included Wycliffe Oparanya, Kenya’s Cabinet Secretary for Cooperatives and MSMEs Development; Beatrice Askul Moe, Kenya’s Cabinet Secretary for EAC, ASALs and Regional Development; Amb. Joseph Majak, South Sudan’s Minister of Trade and Industry; and Mr. Gervais Abayeho, Burundi Minister of EAC Affairs, Youth, Sports and Culture. The East African Community (EAC) is a regional intergovernmental organisation of eight (8) Partner States, comprising the Republic of Burundi, the Democratic Republic of Congo, the Republic of Kenya, the Republic of Rwanda, the Federal Republic of Somalia, the Republic of South Sudan, the Republic of Uganda and the United Republic of Tanzania, with its headquarters in Arusha, Tanzania. The Federal Republic of Somalia was admitted into the EAC bloc by the Summit of EAC Heads of State on 24th November, 2023 and became a full member on 4th March, 2024.
Yaba (Jaduong) Odongo Odoyo is a leading commentator, writer and established Editor with long standing career in journalism and media industry internationally. The comments and insight shared are his own. You can contact him at +211921351878, +254795226883or e-mail: odoyo2002@gmail.com.
