US, European investors back East Africa International Business Forum

22 Sep 2008

International investors from the US, Germany and France are backing the first East African International Business Forum being held in Kigali 29 - 30 October 2008. US-based Corporate Council on Africa (CCA), Germany's Afrika-Verein and the French Council of Investors in Africa (CIAN) have announced their support.

The forum, which is being hosted by President Paul Kagame, chair of the East African Community, is being convened by the Commonwealth Business Council (CBC) and the East African Business Council (EABC) with the support of the Government of Rwanda.

"The presence of US, German and French investors demonstrates the interest of global business and its growing appetite for an integrated East Africa," said Dr Mohan Kaul, CBC director general adding, "The three organisations and CBC together represent a huge number of Africa's leading investors, bringing together five of the G8 countries as well as India, Nigeria and South Africa. Their involvement will contribute to increasing investment in East Africa."

The forum theme of "East Africa: One Market One Destination" will promote international private sector investment in the region as it creates a single market of 100 million citizens. Now that EAC Heads have agreed economic reforms are priority investment projects required within East Africa, the meeting will focus on practical steps which business and government can take together to drive implementation of reforms. Critical issues will be energy, transport, trade and promoting SME development.

EAC investment promotion agencies will be showcasing priority investment projects.

"An increasing number of US companies continue to demonstrate an interest in the growing number of investment opportunities in Africa," said CCA President and CEO Stephen Hayes. "Partnering with this esteemed group of organisations allows us to strengthen our support of reforms in the East Africa region, which will create a better investment climate and tackle the obstacles to increasing trade and financial flows."

In addition to Heads of Government, senior ministers and business leaders from the five countries, over 20 leading international business speakers have already confirmed their attendance, and delegates from 30 countries are expected to attend.