Justus Ondari
9 November 2009
Nairobi — A select group of chief executives from East Africa are expected to converge in Nairobi next week for a debate on various issues affecting businesses in the region.
The event to be televised is part of PricewaterhouseCoopers' CEOs Most Respected Company programme now in its second year following the inaugural one held last year in Kampala, Uganda.
"The introduction of the Customs Union in January 2010 and the proposed East African Monetary Union are likely to be the subject of a lively discussion by the CEOs in the debate," the survey director and partner PWC Kenya, Charles Muchene, said.
Other issues to feature during the talks include growth prospects after the current economic crisis and how the relationship between business and government has evolved in the region.
Among those expected are past winners and nominees in the awards survey.
Last year's debate focused on how firms were anticipating implications of the then pending global cash crisis.
One of the themes that emerged was the need to strengthen untapped domestic and regional rural markets.
The CEOs acknowledged the need to be less urban-centred in their approach.
They also challenged the region's governments to create the right policy framework to attract foreign direct investment and facilitate East African trade.
Very tough
"The last year has been very tough for East Africa's Most Respected companies. They have suffered the perfect storm of global recession, drought and political instability. Nonetheless the short-term struggle for survival has not totally dominated boardroom agendas," said Mr Muchene.
During the inaugural debate, the CEOs cited political instability - both the lack of consistency at a policy level and the lack of political will to fight corruption - as a major source of concern.
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