The 14th East African Procurement Forum (EAPF) to be held in Kampala/Uganda from March 23-26, 2023 is not just a platform to exhibit products, goods and services. It is above all an excellent way to explore several business opportunities with partners from other East African Community (EAC) member countries.
And as such, Congolese entrepreneurs have much to gain by doing business with EAC member countries, namely Kenya, Burundi, Tanzania, Uganda, South Sudan and Rwanda, for several reasons
1. Access to a larger market : With a combined population of more than 180 million and a combined GDP of more than $400 billion, by doing business with these countries, Congolese entrepreneurs will gain access to a larger and more diverse market. With the opportunity to grow their business.
2. Ease of trade : The establishment of a free trade area to facilitate the movement of goods and services between member countries is an opportunity for Congolese entrepreneurs to reduce costs and delivery times by avoiding customs formalities and import taxes.
3. Foreign investment : EAC member countries are attracting significant foreign investment in sectors such as energy, telecommunications, transportation and tourism. Congolese entrepreneurs can benefit from these investments by finding partnership or investment opportunities with foreign companies.
4. Cultural Exchanges : EAC member countries share a common history and culture, which can help Congolese entrepreneurs better understand the expectations and needs of customers in those countries. By establishing business relationships with local companies, Congolese entrepreneurs can also expand their network and strengthen their presence in the region.
Some of the types of profitable business that may be represented at this exhibition include
1. Agribusiness : East Africa has a strong agricultural culture and is rich in natural resources, making it a promising market for food products. Entrepreneurs offering processed agricultural products such as preserves, juices, spices, or baked goods could be successful at this exhibition.
2. Renewable Energy : The demand for renewable energy is growing in East Africa due to low energy coverage and high demand for energy for economic activities. Entrepreneurs who offer renewable energy solutions such as solar, wind, or hydroelectric power may find a growing market at this exhibition.
3. Information and Communication Technology : Technology is growing in East Africa, with strong demand for information and communication technology (ICT) products and services. Entrepreneurs offering ICT solutions such as business software, mobile applications, or security systems may find a growing market at this exhibition.
4. Tourism : East Africa has world-renowned tourist sites, with national parks, nature reserves, and beaches that attract visitors from around the world. Entrepreneurs who offer tourism-related solutions such as travel agencies, hotels, restaurants and transportation services could be successful at this exhibition.
All in all, it is in the interest of Congolese entrepreneurs to develop business with EAC member countries, as this offers them access to a larger market, facilitates trade, gives them access to foreign investment and allows them to establish business relationships with local companies.
They are therefore called upon to focus on the agribusiness, renewable energy, information and communication technology, and tourism sectors, as they offer interesting growth prospects in the region.
Claudine N. Ilunga infoclaudia85@gmail.com