The path to sustainable and resilient economic growth in East Africa lies not just in capital investment, but in the strength of collaboration between investors and government policymakers.
This was the core message delivered by Kenneth Mutaonga, Co-founder of Asilia Energy (Tanzania), at the recent Stanbic East Africa Business Summit in Kampala.
Mutaonga stressed that for East Africa to successfully navigate its present opportunities, especially in emerging sectors like renewable energy and technology, a fundamental shift towards mutual trust and shared knowledge is imperative.
New Frontiers Demand New Partnerships
Mutaonga pointed out that many of the most promising growth opportunities shaping the region today, particularly in the renewable energy sector, are relatively emerging in most East African jurisdictions. This novelty, he observed, introduces complexity and uncertainty, underscoring the necessity for a unified approach which includes:
Open Knowledge Sharing
Mutaonga explained that investors often bring international expertise and cutting-edge technology, while governments provide the legal and regulatory framework. For these new ventures to succeed, there must be an environment where knowledge is shared openly, allowing both sides to understand the risks and rewards.
Building Mutual Trust
The journey to sustainable growth is a long-term endeavour. Mutaonga emphasised that when investors and policymakers approach engagement with openness and a shared vision, they lay the foundation for resilient economies capable of competing effectively on the global stage.
“When investors and policymakers engage with openness and a shared vision, they lay the foundation for resilient economies capable of competing on the global stage,” Mutaonga stated.
The Platform for Progress
Mutaonga also highlighted the critical role of platforms like the Stanbic East Africa Business Summit. These gatherings, he noted, serve as essential arenas that transcend traditional negotiations, instead fostering genuine partnership and dialogue. He underscored that such summits are vital because they:
Bring Together the Right Partners: By connecting regional investors, international financiers, and senior policymakers.
Exchange Ideas and Connect Opportunities: By facilitating high-level discussions that identify potential synergy and remove systemic barriers.
Build Confidence: Through generating collective conviction in the region’s long-term economic future, which is essential for attracting large-scale, sustainable private capital.
Ultimately, accelerating East Africa’s journey towards sustainable growth and resilience requires moving beyond transactional engagement.
It demands building robust, long-term partnerships between those who provide the capital and expertise (investors) and those who set the rules and vision (governments).
This collaborative framework is the engine that will ensure new sectors, like renewable energy, achieve their transformative potential.