East Africans must move beyond being passive recipients of foreign capital and instead position themselves as active architects of investment, driving the region’s growth and integration.
This call was made during the Stanbic Bank East Africa Business Summit in Kampala, which drew policymakers, private sector leaders, and development partners from across the region.
The summit highlighted the need for East Africa to operate as a unified economic bloc, anchored in efficient transport systems, digital infrastructure, and strong financial linkages.
The summit, during the panel on intra-regional trade, urged the private sector and governments to adopt a bold approach that transforms how East Africa trades within itself and with the rest of the world.
Mr Damoni Kitabire, chairman of Stanbic Bank Uganda, said the region has enormous potential but must act deliberately to convert it into inclusive growth.
‘East Africa’s future is not something we will inherit; it is something we must build. We have the resources, the demographic dividend, and entrepreneurial energy, but these must be translated into productivity, value addition, and innovation,’ he said.
Kitabire also outlined the need for policy action to harmonize standards and eliminate trade barriers, private sector action to invest in infrastructure and technology, and financial sector reform to lower credit costs and support SMEs, women, and youth-led enterprises.
Mr Kenneth Mumba Kalifungwa, Stanbic Bank chief executive officer, said regional transformation depends on strategic investments in cross-border infrastructure, including highways, energy interconnections, and modern border posts that facilitate trade.
‘This connectivity is not just about moving goods, it’s about moving potential. It empowers women traders to reach new markets, helps youth-led enterprises to scale, and allows farmers to access buyers beyond borders,’ he said, noting that they were partners in building infrastructure of growth, such as financing logistics, energy, and trade systems that connect regional markets.
Mr Patrick Mweheire, outgoing Regional Chief Executive for East Africa at Standard Bank Group, said global institutions, including the World Bank, IMF, and AfDB, recognize East Africa as one of the world’s fastest-growing regions.
He noted that the region’s population is projected to double to nearly 600 million by 2050, offering a youthful and energetic labour force.
With fertile soils, vast arable land, and abundant renewable energy potential, East Africa could emerge as a continental food basket and green growth hub.
‘This potential will not translate into prosperity by accident. It will require vision, coordinated execution, and above all, collaborative leadership’, he said.