The Secretary General of the East African Community (EAC) Ambassador Dr. Richard Sezibera has exhorted German business to invest in East Africa, saying that the region is peaceful and has enormous opportunities for investments.
“I am challenging the German community to come to East Africa for both business and tourism to take advantage of fruits of EA integration,” he said when opening the first EAC-German Business Forum in Berlin on 30 October, 2012.
The Secretary General added that commercial presence of German business community in hotel and hospitality industry in East Africa, and noted that the manufacturing, pharmaceuticals, motor vehicle assembling and spare parts sectors could be further expanded into new avenues for mutual benefit.
He highlighted the fastest growing segment of the EAC economy and the investment opportunities that have become available in the service sector, which include ICT, finance, insurance, tourism, agro-processing, mining, infrastructure and renewable energy.
He lauded the German government’s generous assistance in the construction of the EAC headquarters in Arusha, Tanzania, at a cost of 15 million euros. The headquarters will be formally inaugurated by the EAC Heads of State on 28 November.
The German State Secretary in the Federal Ministry for Economic Cooperation and Development on his part said that East Africa was on right course to economic reforms.
“Germany can provide best practices to realize the opportunities that exist in East Africa,” he said, adding that his country looked at the African continent positively for mutual benefit. He encouraged German businessmen to invest in East Africa.
Also speaking at the event, Kenya’s Ambassador to Germany and chair of the EAC Ambassadors in Germany, His Excellency Ken Nyauncho Osinde, affirmed that the East African community in Germany was out to market the region as a single tourist destination.
He asserted the EAC Ambassadors desire to do all they could to deepen the friendly ties that exist between the EAC and the Federal Republic of Germany.