The Indian Ocean Rim boasts of 2.6 billion people with ports that handle 30% of global trade and 50% of global container traffic. The just concluded IREN 10th Africa Resource Bank Meeting discussed the Indian Ocean's resurgent economic, energy, cultural and military importance for Africa's development.
Led by Hon. Zaddock M. Syong'oh, Senior Policy Advisor from Kenya's Ministry of Affairs, participants drawn from Kenya, Uganda, Tanzania and Somalia explored ways of how regional integration can serve as an effective tool to prepare Africa to effectively tap into the benefits from the ongoing reorganization in the Indian Ocean Rim. Hon. Syong'oh's presentation focused on regional integration and its implications for value chain propositions for Western Indian Ocean Rim African economies.
Participants assessed the Eastern Africa's level of preparedness to manage its new found wealth; evaluated the transformative aspects of the region's global value proposition and analyzed the socio-political and economic threats and opportunities for the region. The Africa Resource Bank Meeting is one of IREN's key forums that targets policy makers, business leaders, media, industry players and academia for annual brainstorming on topical issues that affect Africa. This event was financially supported by the Friedrich Naumann Foundation - Africa.
The Inter Region Economic Network (IREN) will publish the outcomes of this forum in a policy brief for African government policy makers and interested audience.
Mr. Kajuba Michael Wesonga, MD, Sustainable Environment Management Consult Ltd; Uganda