New EAC law to introduce private-public partnership

BabuK · 2011-04-14T12:22:11+00:00

The East African Community (EAC) is finalising a law to be tabled before the regional bodys legislative assembly (EALA) later this year on public-private partnership (PPP) to facilitate large-scale investments in the region. This was said by EAC secretary general Juma Mwapachu recently when he met the Namibian Ambassador to Tanzania, Japhet Isaack. http://ippmedia.com/media/picture/large/MwapachuEAC10(3).jpg Issack, who presented a letter from Namibian Foreign Affairs Minister Utoni Nujoma has been appointed the southern African countrys EAC representative. We want to provide a legal reinforcement for private investors to pool resources with public institutions, he said. The envoy noted that the move would improve the present environment that facilitated legal processes in each country to benefit from the regional investments. He told the Namibian envoy that the regional law on PPP once finalised would be recommended to the Common Market for Eastern and Southern Africa (Comesa) and Southern African Development Community (Sadc) to adopt a similar legal framework. The EAC secretary general was informing the Namibian envoy of the steady progress registered in the proposed Tripartite Grand Free Trade Area (TGFTA). He said the three regional groupings would benefit from the TGFTA. The EAC secretariat boss observed that Lakes Tanganyika and Victoria, and the Indian Ocean possessed fishery resources that the East African countries could harness together profitably. Mwapachu expressed optimism over friendly ties between the EAC region and Namibia, saying it would make the region utilise Namibias wide experience in fisheries. He said Namibia was one of the few African countries that had been able to optimise its fishery resources, generating nearly half a billion dollars a year. He explained that EAC would also use the enhanced relationship to learn from Namibias mining industry, notably diamond and uranium. Namibia is the fourth largest producer of uranium in the world and Africas leading exporter of non-fuel minerals. The EAC also hopes to learn from the countrys superior meat processing industry and water harvesting, Mwapachu stated. For his part, the Namibian envoy described the accreditation as an honour and privilege and lauded the friendly relations between his country and the EAC. He particularly extolled Tanzania for positive contributions to the liberation struggles in eastern and southern Africa. He observed that because of such an impressive history of solidarity, the Namibian government would wish to strengthen its friendly ties with the EAC. He expressed his countrys commitment to ongoing efforts to integrate the Comesa, EAC and Sadc blocs through a tripartite framework. Namibia is the current Sadc chair. In his response, Mwapachu said the EAC was pleased that Namibia was an important player in the expanding integration agenda, considering its membership of the Southern African Customs Union (Sacu) which the Comesa-EAC-Sadc tripartite framework was seeking to work with. Envoy Issack expressed his countrys readiness to share experiences with the EAC in building a profitable tourism industry. SOURCE: THE GUARDIAN

Thread starter BabuK
Start date Apr 14, 2011

BabuK

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New EAC law to introduce private-public partnership

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