Museveni blames Africa’s economy as he chairs EAC

2026-03-08 - 08:37

The newly elected Chairperson of the East African Community (EAC), Yoweri Kaguta Museveni, has blamed Africa’s limited economic structure for pushing many young people to attempt dangerous migration routes in search of jobs and better opportunities. Speaking after assuming the one-year rotational leadership of the regional bloc from William Samoei Ruto, President of Kenya, during the 25th Ordinary Summit of the East African Community Heads of State in Arusha, Tanzania, Museveni said Africa must expand its productive economy and fully integrate regional markets to create employment. “Thanks for electing me to chair the East African Community Authority for the next one year. At this point in history and given my 65 years of either watching closely or being right in the center of events on our much-troubled continent, I feel compelled to bring up the issue of Africa’s economic stagnation,” Museveni said. He said: “It is the narrowness of the money economy of Africa that does not create necessary jobs. One of the consequences of not fully integrating our markets is that investors get frustrated when they cannot export even within the East African Community.” Museveni added that economic stagnation has contributed to hardships faced by many people, particularly young Africans who attempt dangerous journeys across the Mediterranean Sea to reach Europe. According to him, Africa’s total GDP, saying, “The GDP of the whole of Africa is US$3.6 trillion, yet the economy has attracted US$1.8 trillion from outside since 1978, while other countries that started from smaller bases have grown significantly.” The summit, which brought together leaders from EAC member states, also discussed strengthening regional integration, improving security cooperation, addressing financial sustainability challenges, and launched the EAC Customs Bond initiative to facilitate trade across member states. Museveni will serve as EAC chairperson for the next year, during which he is expected to steer efforts aimed at deepening regional economic integration and promoting sustainable development across the bloc.