KAMPALA, Uganda — The inaugural East Africa Trade and Investment Forum (EATIF), which concluded Thursday, saw trade and electric mobility emerge as central themes as the United Kingdom and East African nations worked to forge new economic partnerships.
The two-day forum, held May 21-22, brought together businesses and government delegations from Kenya, Uganda, Tanzania and the United Kingdom. Organized by DMA Invest and the East Africa Association in partnership with the U.K. Government, the event aimed to facilitate future investments and collaborations.
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Key announcements from the forum underscored this focus. British International Investment (BII) and Standard Chartered Bank unveiled a $100 million facility to support trade finance in Kenya and Tanzania. This initiative is designed to de-risk cross-border and local trade, making finance more accessible for businesses and increasing the availability of vital goods and services. The investment also qualifies for the “2X Challenge,” specifically supporting female-led businesses and promoting employment and leadership opportunities for women, with an expectation to finance over $450 million in trade volumes.
In a significant move toward green mobility, BII also announced a $5 million investment in Kenya’s electric motorbike infrastructure. This funding will support ARC Ride’s initial rollout of 5,000 electric two-wheelers and upgrade battery swapping infrastructure, crucial for accelerating the adoption of electric vehicles. This transition is projected to save over 100,000 metric tons of carbon dioxide annually by replacing petrol-powered “Boda-Bodas,” which are integral to East Africa’s informal economy.
Lord Collins, the U.K. Government’s Minister for Africa, represented the United Kingdom at the summit. He emphasized the U.K.’s role as a “long-term partner for long-term investment in East Africa,” highlighting the forum’s role in showcasing East African businesses to British counterparts and creating a pipeline of private sector investment.
Distinguished attendees from East African nations included Abubakar Hassan Abubakar, Principal Secretary, State Department for Investment Promotion, Kenya; John Mwendwa, CEO of the Kenya Investment Authority (KenInvest); Gen. Wamala, Uganda’s Minister for Works and Transport; and Msafiri Lameck Mbibo, Deputy Permanent Secretary of the Ministry of Minerals in Tanzania.
Mwebesa Francis, Uganda’s Minister for Trade, Industry and Cooperatives, welcomed the forum as a critical platform to “highlight Uganda’s vibrant trade and investment opportunities,” aiming to enhance trade infrastructure, diversify export markets, and drive sustainable development.
Chris Chijiutomi, Managing Director and Head of Africa at British International Investment, stated that the announced investments demonstrate BII’s commitment to fostering economic growth in East Africa by addressing critical needs and promoting inclusive and sustainable development.
The EATIF aims to cultivate mutually beneficial growth and jobs by building partnerships between businesses and policymakers in the region. It seeks to channel private sector funding into high-impact sectors essential for sustainable development, including infrastructure, clean energy, agribusiness, healthcare, and manufacturing. The forum is expected to lay the groundwork for future engagements, with the goal of replicating the success of initiatives like the West and Central Africa Forum (WCAF), which built a pipeline of over £1 billion in deals.
