Three months after Democratic Republic of Congo(DRC) officially joined the East African Community, Ugandan companies have started making inroads by tapping into opportunities the new member of the block brings.
Three months after Democratic Republic of Congo(DRC) officially joined the East African Community, Ugandan companies have started making inroads by tapping into opportunities the new member of the block brings.
Ugandan shipping and logistics company, Marine time cargo has led the way by partnering with DR Congo's Kavatsi Airline-Logistics, an air cargo company in DRC.
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The two companies on Monday signed a Memorandum of Understanding in Kampala where the DRC Ambassador to Uganda Jean Charles Okot Lolakombe shared light on the current security situation in his country.
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"There are no insecurity issues in Congo, we don't have. Insecurity is minimal to affect business but internationals are discouraging business people from trading in Congo because they have been drinking their juice without other people" said Okot Lolakombe.
The Marine time Cargo CEO, Kenneth Ayebare said the partnership will help address the logistical challenges faced.
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"Both governments, Democratic Republic of Congo and Uganda are addressing the insecurity and infrastructure issues as the public sector of both countries are expected to address the issue of trade and logistics to easy trade in both countries. The partnership has come at a time when Democratic Republic Congo has joined the East African Community which clearly represents the diversity of trade,"Ayebare said.
"The Congolese population is ripe for trade, it is double the population of Uganda and this means there are numerous opportunities to grow trade in both countries."
Kavatsi Airlines Logistics is a Congolese market leader with a fleet of more than four planes carrying 15 tons, 21 tons, 13 tons and the smallest plan carrying over 5.5 tons of cargo.
The company's Managing Director, Joel Bwambale said the deal is a big opportunity for both Uganda and DRC traders.
"Kavatsi Airline logistics has been linking Uganda and Congo since 1998 just to solve out logistics problem because there is no trade without logistics but they have had issues of not having clear partners," he said. said
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According to the Ministry of Trade, the government of Uganda has a five-year development plan of infrastructure to promote trade within East Africa and this includes Uganda and Congo.
"The alliance being formed is a very good one because it is helping us implement our third national development plan," said Avu Eli Biluku, the assistant commissioner for the Private Public partnership Unit.
The Private Sector Foundation also welcomed the partnership.
"When we look at the northern part of Uganda up to the southern it covers a lot of the border line and resources. What you see on the DRC side is on the Ugandan side too and so trade should be natural between the two countries in order to benefit our countries," said Kisirinya Francis the Director Finance at the Private Sector Foundation Uganda.
He applauded the Presidents Museveni and Felix Tshisekedi for building and supporting the relationship between the two countries.
President Museveni recently said the joining of the East African Community is good news for everyone in the region.
He said the market for goods produced by East African countries has now widened.
