DR Congo officially joins EAC
By Joshua Cheloti
The Democratic Republic of Congo (DRC) has officially joined the East African Community (EAC).
DRC was formally admitted to EAC in a signing of a treaty ceremony held at State House Nairobi on Friday, April 8, 2022.
President Uhuru Kenyatta, who is the current EACC chairperson hosted several heads of state from the region during the event.
DRC President Felix Tshisekedi had arrived in the country on Thursday, April 7, 2022, ahead of the ceremony that was also attended by Ugandan President Yoweri Museveni.
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President Uhuru Kenyatta and Ugandan President Yoweri Museveni at State House Nairobi on Friday, April 8, 2022. |Courtesy| PSCU|[/caption]
The East African Community is an intergovernmental organization that is now composed of seven countries in the African Great Lakes region in East Africa.
Aside from DRC and Kenya, other member states of EAC are Tanzania, Burundi, Rwanda, South Sudan, and Uganda.
EAC was founded in 1967, collapsed in 1977, and was revived on 7 July 2000.
DRC’s entry into the EAC bloc comes at a time a growing list of Kenyan companies is looking for investment opportunities in the country.
With a surface area equivalent to that of Western Europe, the DRC is the largest country in sub-Saharan Africa with a population of 90 million people, offering huge untapped opportunities for access to one of the world's last economic frontiers.
It is endowed with exceptional natural resources, including minerals such as cobalt and copper, hydropower potential, significant arable land, immense biodiversity, and the world's second-largest rainforest.
According to the World Bank, with 80 million hectares of arable land and over 1,100 listed minerals and precious metals, DRC has the potential to become one of the richest economies on the continent and a driver of African growth, if it can overcome its political instability and improve governance.
Speaking during the 19th Extra-Ordinary Summit of the EAC Heads of State when DRC was admitted, President Uhuru Kenyatta said the move would help expand opportunities for citizens of the region.
“Indeed, the combined population and GDP of our community will grow by 50 per cent and 25 per cent respectively, implying a corresponding expansion of the market for goods and services. These numbers imply expanded market opportunities for producers located within EAC under the Customs Union,” President Kenyatta said.
[caption id="attachment_16799" align="alignnone" width="2560"]
President Uhuru Kenyatta and Rwanda President Paul Kagame at State House Nairobi on Friday, April 8, 2022. |Courtesy| PSCU|[/caption]
President Uhuru Kenyatta and Ugandan President Yoweri Museveni at State House Nairobi on Friday, April 8, 2022. |Courtesy| PSCU|[/caption]
The East African Community is an intergovernmental organization that is now composed of seven countries in the African Great Lakes region in East Africa.
Aside from DRC and Kenya, other member states of EAC are Tanzania, Burundi, Rwanda, South Sudan, and Uganda.
EAC was founded in 1967, collapsed in 1977, and was revived on 7 July 2000.
DRC’s entry into the EAC bloc comes at a time a growing list of Kenyan companies is looking for investment opportunities in the country.
With a surface area equivalent to that of Western Europe, the DRC is the largest country in sub-Saharan Africa with a population of 90 million people, offering huge untapped opportunities for access to one of the world's last economic frontiers.
It is endowed with exceptional natural resources, including minerals such as cobalt and copper, hydropower potential, significant arable land, immense biodiversity, and the world's second-largest rainforest.
According to the World Bank, with 80 million hectares of arable land and over 1,100 listed minerals and precious metals, DRC has the potential to become one of the richest economies on the continent and a driver of African growth, if it can overcome its political instability and improve governance.
Speaking during the 19th Extra-Ordinary Summit of the EAC Heads of State when DRC was admitted, President Uhuru Kenyatta said the move would help expand opportunities for citizens of the region.
“Indeed, the combined population and GDP of our community will grow by 50 per cent and 25 per cent respectively, implying a corresponding expansion of the market for goods and services. These numbers imply expanded market opportunities for producers located within EAC under the Customs Union,” President Kenyatta said.
[caption id="attachment_16799" align="alignnone" width="2560"] President Uhuru Kenyatta and Rwanda President Paul Kagame at State House Nairobi on Friday, April 8, 2022. |Courtesy| PSCU|[/caption] What's Your Reaction?
