The 3rd Stanbic East Africa Business Summit that kicked off in Kampala today has become the platform for a powerful declaration: East Africa is entering an “unstoppable” era of growth, powered by deliberate regional integration and massive capital mobilisation.
Held under the theme, “Connected and Resilient: Scaling East Africa’s Regional Advantage,” the summit, which was graced by, among others, Hon. Henry Okello Oryem, the State Minister for Foreign Affairs, repositioned Uganda from being merely ‘landlocked’ to being ‘land-linked’, showcasing how infrastructure and cross-border finance are turning regional theory into economic reality.
“We need to mobilise international finance, to forge meaningful partnerships and build public infrastructure. This is important for East Africa, which, as a unified region, can present a stronger collective voice on the global stage,” Minister Oryem told the summit in his opening remarks.
A Region of Scale and Unprecedented Momentum
Patrick Mweheire, the outgoing Regional Chief Executive for East Africa at Standard Bank Group (Stanbic’s parent company), delivered a rallying cry backed by compelling data, arguing that East Africa’s true moment has arrived.
He noted that with the recent inclusion of the Democratic Republic of Congo (DRC) and Ethiopia, East Africa is an economic giant that boasts:
A population of 500 million people.
A combined GDP of USD 500 billion.
This is complemented by growth three times faster than the African average, positioning the region to become the continent’s largest economic bloc within just 18 months.
“This is why I continue to believe that East Africa is unstoppable. And I don’t use those words lightly,” Mweheire noted, adding, “Guys, it’s happening!”
Global Confidence and Resilience
According to Mweheire, the confidence in the region is demonstrated by soaring Foreign Direct Investment (FDI) and powerful internal trade, as illustrated below:
FDI Surges: FDI inflows have rocketed from USD 5.2 billion in 2000 to USD 92.9 billion in 2024 (30% of GDP), underscoring global belief in the region’s future.
Fastest Growers: Five of Africa’s seven fastest-growing economies are in East Africa, led by Ethiopia (6.9%), DRC (6.2%), and Uganda (5.8%).
Trade Resilience: East Africa trades 40% within itself, compared to just 12% across Sub-Saharan Africa. Mweheire explained that this internal connectivity allowed the region to quickly bounce back from global shocks like COVID-19. Intra-regional trade has also nearly tripled from USD 3 billion in 2018 to USD 9 billion in 2025.
Stanbic as the Engine of Integration and Capital Reversal
In his keynote address, Stanbic Bank Uganda CEO, Mumba Kenneth Kalifungwa, emphasised that the bank is far more than a financier; it is a partner in building the infrastructure of growth.
“Through deliberate investments in cross-border infrastructure, regional highways, energy interconnections, and trade facilitation systems, Uganda is unlocking new pathways for goods, capital, and opportunity to flow seamlessly across the region,” Mumba said.
“When you bank with Stanbic Uganda, you are banking in East Africa and banking on the continent,” he added.
He stressed that “Connectivity is about moving potential, enabling women and youth enterprises, and allowing farmers to access wider, better-priced markets.”
Stanbic Bank Powering Cross-border Investment
In his remarks, Mweheire highlighted Stanbic and Standard Bank Group’s crucial role in financing groundbreaking cross-border deals that prove integration is a multi-directional reality, citing the following successful investment projects;
Crown Beverages (Uganda): Financed a USD 100 million expansion into Kenya, a notable reversal of traditional capital flow.
Roofings Group (Uganda): Supported a USD 50 million investment in Mombasa, strengthening regional industrial supply chains.
Industrial Restructuring: Facilitated the acquisition of major Kenyan cement businesses by Tanzanian and Ugandan clients, actively reshaping East Africa’s industrial footprint.
These deals, according to Mweheire, demonstrate a profound shift that capital is now flowing from Uganda and other regional players into Kenya, underscoring that the integration is now mutually reinforcing. This success has made East Africa the Standard Bank Group’s fastest-growing and No.2 most profitable region.
Agenda for Inclusive Prosperity
The summit, hosted on the eve of Uganda’s Independence Day, served as a platform for policymakers and industry leaders to deliberate on core strategies to sustain this momentum through:
Deepening Intra-Regional Trade and attracting further private capital.
Strengthening infrastructure investment and cross-border connectivity.
Translating economic growth into inclusive benefits for all East Africans.
As Mumba concluded, the region’s shared future will be defined by its connectedness, not just in terms of roads and energy, but in “a common purpose” to build a more resilient and prosperous East Africa.