The enactment of the East African Community Cooperatives Bill 2014, which stands to benefit EAC farmers now awaits endorsement by Presidents Uhuru Kenyatta of Kenya, Yoweri Museveni of Uganda, Jakaya Kikwete of Tanzania, Rwanda’s Paul Kagame and Pierre Nkurunziza of Burundi.
Agriculture is the dominant sector in the five member states, followed closely by wholesale and retail trade as well as manufacturing, transport and communications.
This piece of legislation which was passed last January may have gone unnoticed by the majority of the 140 million citizens with in the EAC.
It is expected to move the entire region’s economies and people to new levels of social and economic development by unlocking the region’s productive potential.
The EAC Cooperatives Bill is a harmonized legislative framework for the facilitation of East Africa’s cooperative societies. It is viewed by its proponents as a vote of confidence by East Africans and the vehicle that will drive existing economies to new levels of growth and prosperity.
Mike Sebalu, a Member of Parliament in the East African Legislative Assembly (EALA) from Uganda who moved the Bill said the importance of creating a law that responds to the needs of East Africans by its capacity to catalyze economic and social development in the region. Read more. Source | East African Business Week