Unlocking East Africa’s Economic Potential: Diplomacy and Trade at the UK-Africa Business Summit 2024

The 14th UK-Africa Annual Trade Summit, held on 6th September 2024 at The May Fair in London, brought together diplomats, trade experts, and business leaders to discuss how diplomacy is unlocking East Africa’s economic potential. The summit underscored the importance of collaboration and strategic partnerships between the UK and East African nations, particularly in sectors like agriculture, technology, and infrastructure.

Opening Remarks: Diplomacy as a Growth Driver

The session opened with a reminder of diplomacy’s crucial role in fostering sustainable economic development. The moderator praised Willy Mutenza, the summit’s organizer, and highlighted the contribution of UK minority businesses, particularly those led by individuals of East African origin, which contribute over £26 billion to the UK economy. This underscores the importance of strengthening diplomatic and economic ties between the UK and East Africa.

Key Diplomatic and Trade Perspectives

H.E. Ambassador Dr. Joseph Warui, Deputy High Commissioner of Kenya to the UK

Dr. Warui described Kenya as the gateway to East Africa, citing its strong economic growth, investor-friendly policies, and advanced infrastructure. He invited investors to explore opportunities in agriculture, tourism, finance, manufacturing, and technology, positioning Kenya as a prime target for UK investments.

Joseph Kabakeza, Trade and Investment Commissioner, Rwanda High Commission – UK

Kabakeza showcased Rwanda’s business-friendly policies, which have enabled rapid economic growth. Businesses can register in under six hours, and there are investment opportunities in ICT, tourism, real estate, and light manufacturing. Rwanda’s memberships in the East African Community (EAC) and COMESA make it an attractive market for UK investors.

James Thon Anyar, Counsellor, Embassy of South Sudan to the UK and Northern Ireland

Anyar emphasized South Sudan’s wealth of natural resources, including agriculture, oil, gold mining, fishing, and infrastructure development. While acknowledging political challenges, he underscored the government’s commitment to supporting foreign investors with streamlined business registration processes and land acquisition assistance.

Abdul Mohammed, Somalia

Mohammed discussed Somalia’s untapped potential in fisheries, infrastructure, and telecommunications. Despite political challenges, Somalia’s digitalized business environment, tax holidays, and investment protection measures offer high returns on investment.

Mr. Adam Mhagama, Trade, Investment, and Tourism, Tanzania High Commission

Mhagama highlighted Tanzania’s steady economic growth, with an average GDP growth rate of 6%. Investment opportunities in mining, agriculture, manufacturing, and real estate are abundant, with special emphasis on Zanzibar as a unique destination for agriculture and tourism investment.

Panel Discussion: Broadening Diplomatic and Economic Horizons

The panel explored the broader diplomatic landscape, with a particular focus on new players like Saudi Arabia, whose representative highlighted East Africa’s geopolitical importance and renewable energy potential.

• Uganda’s Diplomatic Role: Uganda’s ambassador stressed diplomacy’s role in attracting credible investors and balancing global reputation with national priorities.
• South Sudan’s Challenges: Anyar acknowledged political issues but argued that diplomacy could help resolve them, with bilateral relationships offering solutions.
• Rwanda’s Stability Focus: Rwanda’s representative emphasized internal stability and sound policies as the foundation for long-term development.
• Kenya’s Global Partnerships: Dr. Warui highlighted Kenya’s focus on expanding global alliances to drive economic growth.
• Somalia’s Call for Collaboration: Mohammed advocated for increased collaboration in education, healthcare, and infrastructure to accelerate Somalia’s recovery.

Q&A Session: Addressing Diplomatic and Economic Challenges

The Q&A session addressed key concerns such as cross-border collaboration and infrastructure development.

• Private Sector Investment in Roads: Participants discussed models like user-pay systems for road infrastructure, citing Nairobi’s success.
• Accessibility: Officials confirmed that new infrastructure projects will include walkways and disability access.
• South Sudan’s Land Acquisition: Investors raised questions about land acquisition, with assurances that South Sudan is committed to streamlining the process.

Closing Remarks: The Path Forward

The summit closed with a call for long-term thinking in both diplomatic and business decisions. The moderator emphasized that collaboration, transparency, and sustainability must guide future partnerships between the UK and East Africa. The region is rich with opportunities, and UK investors have a unique chance to help shape its future.

Conclusion: Diplomacy Unlocking East Africa’s Potential

The 2024 UK-Africa Trade Summit demonstrated that diplomacy is a key enabler of economic growth in East Africa. Countries like Kenya, Rwanda, Tanzania, South Sudan, and Somalia are ripe for foreign investment, with vast opportunities in agriculture, ICT, renewable energy, tourism, and infrastructure development. The summit provided a platform for strengthening ties between the UK and East Africa, positioning the region as a key hub for global trade and innovation.