PUBLISHED ON December 8th, 2014

EAC should not rush into things


I presume that the East African Community (EAC) is following the footsteps of the European Union (EU) in its aim for integration.

My request is that sometimes it good to stop and take a breath. This would be an chance to understand where we are going and whether we are all still agreed with the final objective.

As an oldster, I would like to remind all concerned that if it were not for the unfortunate events of the 1970s, we would be far ahead of the EU even now! Although the present goal is to have a common currency within 10 years, I do not see this happening. The Common Market is still only in the early phases of implementation.

As a notable point, let us recall that the EU Single Currency is only 14 years in existence. But the process to get there took well over 20 years. Perhaps the EAC should begin taking smaller morsels and be sure that we can digest it, rather then big chunks that ask too much of our circumstances. This does not mean I do not support the EAC. I believe it is the only entity that will ensure stability and a better chances of faster economic growth. But nothing wrong in being cautious.

J. Kadoma

Kampala, Uganda

Source: East African Business Week

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