Views and Perceptions About Doing Business in the EAC
A snapshot of views and perceptions, current and old from key people about doing business in the EAC. The old views are still true today, which gives a sign that EAC should be the investment destination of choice.
Mr. Kiprono Kittony
2020, Vice Chairman, World Chamber Federation
"The East African region is amongst the fastest growing regions in the world and is highly diverse. With a young and vibrant population and favourable climatic conditions the single market region under the EAC and the prospect of broader market under AFCFTA, investors should seriously consider the region. Favourable investment incentives are starting to yield fruit as has new renewable energy sources."
2020, Manager Galax Foods & Beverages Ltd, Arusha, Tanzania
"In the market, the brand is known as Kilimanjaro Fresh, derived from the fact that the milk is sourced from Kilimanjaro Region. The factory produces dairy products that are UHT, yogurt and, as a company, it looks forward to producing more dairy products. Investment in the factory has thus far cost some Tshs 5 billion. The company is registered with Tanzania Investment Center (TIC), where we receive all the necessary services. Among other things, Kilimanjaro Fresh is grateful for being exempted from import duty and VAT on imported machines. As investors, it has made the cost of machinery more affordable. In addition, to expedite service delivery, TIC serves investors through the One Stop Facilitation Center where officials from various government institutions, departments and authorities assist investors in obtaining permits and licenses to launch their projects within TIC offices. We are very grateful that through the existing system we have been able to access all the necessary services under one roof without any problems. We are thankful to President Dr. John Pombe Magufuli for promoting industrialization, something that has motivated the company. This factory is the result of value chain in the agricultural and livestock sector. I and our team are proud of the products produced in our factory because the market exists and continues to grow day by day in the way that people are encouraged to drink milk. We also thank Tanzania Investment Centre for improving and strengthening service delivery at TIC regional offices and headquarters to assist investors in the country and address their various challenges for the greater good of the nation. I advise other investors who are mulling to start projects in the country to register with TIC because they will be supported from the initial stages of starting the project to the stage of production. By being registered with TIC, we have not had any serious challenges such as disruption of production or falling foul with authorities for flouting investment laws and regulations in the country."
2020, Director of Harsho Group's tripartite subsidiary companies which are Harsho Trading, Harsho Packaging and Harsho Milling which produces pet foods.
"I thank God that in 2012 our dream of launching Harsho Packaging Company was presented to TIC Northern Zone and they forwarded it to the Headquarters where it was deemed feasible. The next step was to apply for a loan from banks to get the capital. The bankers expressed willingness to lend us on the condition that we register with TIC and get an investment certificate. We thank TIC for allowing us to get here and we are proud to see that every day we expand. We thank Hon. President Dr. John Pombe Magufuli for introducing systematic changes and prioritizing investments in the country. We have indeed greatly benefitted from being registered with TIC especially in the area of experts we have employed in the factory because TIC helps to facilitate access to their work and residence permits, as well as tax exemptions on the machines we import. Importing machinery and being required to pay all taxes is very expensive but under TIC and the established procedure we have been getting tax relief and thus enabling us to fulfill the government’s industrialization agenda. Furthermore, TIC has been our savior in the face of various challenges we encounter with other authorities and has always been a resourceful mediator and encouraging with advice on the need to respect regulatory authorities and abide by the country’s laws and regulations. We continue to produce sacks for produce and alternative shopping bags, and with the outbreak of COVID-19, we have started producing PPE after being counseled by health experts. I must confess that we will remember the efforts by President Magufuli for centuries, he has shown good intentions which we thought would be impossible to attain but if we get the right people to implement his vision we can reach very far. At times such as this to have someone who wants to know about your challenges and who is also ready and willing to assist you, it is encouraging. I believe that with the new system introduced by the president in very short period of time we will be among investors with large industries in the country. This project employs over 300 people and it is worth TShs 6 billion."
2019, Globeleq CEO.
"The attractive investment climate combined with strong local community support sets the stage for this important project as well as future investments in Kenya. We are extremely pleased to be making this investment into the Kenyan energy sector."
2018 English Journalist, CNN International Anchor, and CNN Business Editor at Large
"I have traveled to many countries to report on business news. However, nothing matches the business acumen and readiness for investment that I have observed in Kenya Including the World Bank optimism to a marvelous GDP growth of 6%. As we embark on the maiden DIRECT flight from Nairobi to New York, I must say Kenya is the new business Destination in Africa".
2018, Former Managing Director of IMF and Currently the President of the European Central Bank.
"Kenya has emerged as one of Africa’s ‘frontier economies’, and I am very interested in learning how the country’s leaders and people will build on this success moving forward".