Did you know that out of EAC’s GDP currently standing at about $150 billion, that manufacturing contributes a paltry 10%?
However, the reality is that as agriculture’s contribution continues to decrease; the service industry and manufacturing are likely to be the next best thing. The Potential is simply huge. With the region aiming for an annual growth rate of between 8.5-10%, the role of manufacturing as a driver of growth can only take on a more important dimension. And energy to power the new ‘’engines’ will be on even greater demand. The multiplier effect will simply be enormous.
According to UNCTAD, the potential and scope for a manufacturing driven economic development path in the region is enormous, gauging by the gaping manufacturing deficit depicted by the total import demand for manufactured products in 70%.
With the EAC’s strategy encompassing a regional approach to investment, great synergies can be leveraged around Automobile, Pharmaceutical, Machinery – Agriculture and earth moving equipment, Aero Space, Paper, Tyres, Spare parts manufacturing, ICT equipment, Building inputs and raw material not to mention mining & petroleum production.
Clearly the Opportunities as a Result of Regional Integration and partnering are even greater:
- Are you an existing or potential player in this manufacturing space in EAC or the larger ESA economic blocs?
- Are you seeking to expand your businesses network?
- Are you seeking to tap into the regional network and build strategic partnerships?
Join RiimNet-Africa’s Regional Manufacturing Working Group that will:
- Put you ‘in league’ with regional strategic partners(hips) and help develop a shared monitoring mechanism that impacts your business
- Keep you posted on all regional happenings in your sector
- Help you track new policy developments that impact your business
- Loop you into the regional monitoring network to strengthen evidence based policy advocacy