The East African Community (EAC), a regional bloc comprising Burundi, Kenya, Rwanda, South Sudan, Tanzania, Uganda, and the Democratic Republic of the Congo (DRC), has achieved significant economic progress in 2024. According to the latest Economic Survey report by the Kenyan National Bureau of Statistics, the EAC posted a strong 5.4% growth rate, positioning it as one of Africa’s fastest-growing regional economies and signalling a resilient recovery amidst global economic uncertainties.
A Closer Look at the Growth Leaders
Rwanda stands out as the top performer within the EAC, registering an impressive 7.0% real GDP growth in 2024. This exceptional performance highlights Rwanda’s strategic focus on diversifying its economy, attracting investment, and enhancing regional trade. Following Rwanda, Tanzania and Burundi recorded growth rates of 6.1% and 6.0%, respectively. Uganda and the Democratic Republic of the Congo (DRC) also made notable contributions, posting growth rates of 5.7% and 4.7%, respectively.
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Factors Driving the Growth
Several factors underpin this positive trend. Increased intra-regional trade has played a crucial role, facilitated by ongoing infrastructure investments and policy reforms aimed at easing the cross-border movement of goods and services. The EAC has also made significant progress in harmonising policies, removing non-tariff barriers, and implementing the EAC Common Market Protocol, all of which contribute to boosting economic activities across member states.
Moreover, key sectors such as agriculture, services, and manufacturing are recovering after disruptions caused by regional and global shocks. The region’s strategic focus on infrastructure development, spanning transport corridors, energy projects, and digital connectivity, has further enhanced its economic resilience.
Regional and Global Context
Despite facing challenges such as political instability, infrastructure deficiencies, and bureaucratic hurdles, the EAC has demonstrated impressive resilience. Its 5.4% growth rate in 2024 surpasses the regional average of 4.7%, and projections indicate a further rise to approximately 5.7% in 2025 to 2026. This positions the EAC among Africa’s most dynamic economic regions, outperforming other sub-regions amid global issues such as inflation, mounting debt, and supply chain disruptions.
The region’s strategic importance is growing, with the EAC emerging as a leader in regional integration across the continent. Its market of over 300 million people presents enormous opportunities for investors and businesses alike, creating a conducive environment for sustained economic development.
In conclusion, the East African Community’s economic performance in 2024 highlights the region’s resilience and potential. Rwanda’s leadership in growth, alongside Tanzania, Burundi, Uganda, and the DRC, underscores the diverse drivers propelling the region’s development. With continued reforms and investment, the EAC is well positioned to maintain its upward trajectory, reinforcing its status as Africa’s burgeoning economic hub.
