Experts attending the second high-level East African Manufacturing Business Summit and Exhibition (EAMBS) held in Rwanda’s capital city Kigali said Wednesday that innovation is key for the East Africa manufacturing sector to compete globally.

“We have to understand that our industries are operating in a global context, in an open globalized market place, and that is not going to change. We have to be innovative and work on our efficiencies. We should be able to produce high quality products that are competitive at international markets,” said Ali Mafuruki, board chair of Trade Mark East Africa.

He added that regional economies should strategically position themselves in the global business environment through producing locally made products that are price competitive.

Rwanda hosts the forum from May 23 to 25, 2017 dubbed “harnessing the Manufacturing Potential for Sustainable Economic Growth”.

The three-day meeting includes an exhibition where investors, enterprises, researchers and academia will collectively showcase new products and services as well as exhibit the latest advances in manufacturing technology and innovation, particularly those with relevance to Small Medium Enterprises.

Lilian Awinja, executive director of East African Business Council (EABC), called for innovative strategies that will raise competitiveness levels and expand the region’s manufacturing and export base.

“Innovations are now shaping the business environment. We need to add value to products produced in EAC. Our regional industries can now begin to raise manufacturing output and increase its share of global trade and production,” she added.

Mukhisa Kituyi, secretary-general of United Nations Conference on Trade and Development (UNCTAD) said manufacturing sector in East Africa needs to develop innovative approaches that are essential for local products to compete favorably at global markets.

“We should reduce the importation of cheap products from developed economies that may benefit local consumers but induce long-term challenges. East African economies should create a conducive business environment for doing business and encourage development of locally made products,” he said.

Kituyi said a competitive manufacturing sector encourages domestic and foreign investment, creates employment and improves a country’s balance of payments.

Currently, manufacturing accounts for 10 percent of the GDP in the EAC bloc.

More than 400 delegates are attending the regional event.

East African entrepreneurs call for increased investments in power generation

Entrepreneurs from East Africa on Tuesday called for increased investments in the power generation so as to develop a strong value-added manufacturing base in the region.

Delegates participating in the second high-level East African Manufacturing Business Summit and Exhibition (EAMBS) held in Rwanda’s capital city Kigali, said that heavy investments by both private and the public in the energy sector will enhance the production capacity of manufacturing industries in the region.

Rwanda hosts the forum from May 23 to 25 dubbed; “Harnessing the Manufacturing Potential for Sustainable Economic Growth”. It has brought together top executives in the manufacturing and agri-business sectors, policy and decision makers, as well as key financial institutions from Africa and beyond to dialogue and explore opportunities for investment in manufacturing and agri-business in the EAC region.

More than 400 delegates are attending the event that is expected address existing gaps in policy and business environment by providing a platform for dialogue among manufacturers, suppliers, technology providers and policy makers.

“Increased power production and co-generation initiatives, will enable manufacturing industries in East Africa increase production. Today manufacturing sector in our region is limited by insufficient electricity generation,” said Godfrey Simbeye, executive director of a Tanzanian private sector foundation.

Benjamin Gasamagera, Chairman of the Rwanda private sector federation said massive investments in power generation mean increased investments in manufacturing sector since increased power generation lowers the production costs of industries and factories.

“We are looking at engaging investors both foreign and local to put much emphasis on channeling their investments in energy sector to boost manufacturing of local industries in East African economies,” he said.

He noted that East African economies are developing at fast rate which presses a huge demand to power generation against the available energy supply.

The meeting includes an exhibition where investors, enterprises, researchers and academia will collectively showcase new products and services as well as exhibit the latest advances in manufacturing technology and innovation, particularly those with relevance to SMEs.

It is expected to create greater awareness about the opportunities and challenges arising from the common market protocol for the regional manufacturing sector, according to organizers.

The manufacturing sector in East African community currently contributes just 10 percent to the bloc’s GDP, according to the Executive Director of the East African Business Council (EABC) Lilian Awinja

“Strong partnership between private and the public sector is needed increase investments in off-grid and mini-grid solutions and close the region’s energy deficit which presses a major challenge to manufacturing industries,” she said.

Source: Coast Week

Disclaimer: The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of TradeMark Africa.