In the East African Community (EAC), President William Ruto is promoting cross-border economic ventures, claiming that they will empower the region as a whole.
Speaking at the Vertically Integrated Steel Industry project launch in Tororo, Uganda, Ruto stated that Kenya is seeking regional cooperation in key industries, such as steel production, to advance self-sufficiency, increase intra-African trade, and establish the groundwork for shared prosperity under the EAC Industrialization Strategy. He emphasized Kenya’s commitment to industrial integration in the region.
In order to create a linked and competitive East Africa, Ruto emphasized the importance of common infrastructure, coordinated industrial policy, and value addition.There are currently around 400 employees at the Tororo steel plant, and there are plans to increase that number to 20,000.
In addition to directly creating jobs, Ruto said the initiative will provide EAC-based businesses with chances in the transportation, energy, construction, and services sectors through strategic joint ventures and cross-border supply contracts.
Ruto also praised Dr. Narendra Raval, a Kenyan businessman whose leadership and investment were crucial to the project’s success.
He emphasized that the steel industry in Africa is becoming more and more important in promoting industrialization and economic progress, assisting value-added manufacturing, and determining the economic course of the continent.
With 20 to 25 billion tonnes of proved and probable iron ore reserves, he continued, Sub-Saharan Africa is well-positioned to both meet domestic demand and become a major worldwide supplier of steel.
The President stated that the EAC can achieve sustainable economic growth while enhancing cooperation, regional integration, and industrialization among member nations through initiatives like the Tororo steel complex.
