Truck drivers from Tanzania await clearance at Namanga border. [File, Standard]
East Africa does not have an investment problem because it lacks opportunity. The region has something else: a long list of promising projects that still need the capital, partnerships and policy environment to get off the ground.
That was one of the clearest messages to emerge from the inaugural East Africa CEO & Investment Forum, held in Nairobi on September 17–18.
Convened by the East African Business Council (EABC), the East African Community (EAC) Secretariat and the East African Development Bank (EADB), the forum brought together governments, CEOs, investors, development finance institutions and other partners around a deceptively simple question: how does East Africa move from investment potential to actual deals?
The answer was partly visible in the forum's Deal Room, where 95 pre-screened investment opportunities worth nearly US$3.95 billion were presented across agribusiness, manufacturing, digital infrastructure, energy, logistics, tourism, health and other sectors.
But the forum also acknowledged something that investors have been saying for years. Capital alone will not transform the region.
Businesses need predictable regulations, efficient borders, harmonised standards, reliable infrastructure and easier access to finance. They also need governments to implement regional agreements already on the books.
The forum therefore called for East Africa to move beyond declarations and concentrate on implementation, stronger regional value chains and the conversion of investment opportunities into financed projects, businesses and jobs.
That brings the conversation back to the United Arab Emirates.
The UAE capital opportunity
For East Africa, the UAE is more than another source of foreign investment. It is potentially a partner with experience in building the infrastructure and commercial ecosystems that allow capital to move efficiently.
Emirati sovereign wealth funds, banks, investment companies and private businesses have expanded their African interests across logistics, ports, energy, agriculture, technology, manufacturing and financial services.
There are already significant examples in Kenya. Dubai-based Arise IIP, for instance, has announced plans to mobilise more than $3 billion for investments in Kenya over five years, including industrial and export parks and a textile manufacturing operation.
The opportunity now is to connect such capital with the wider regional investment agenda.
The Nairobi forum made an important point: East Africa should increasingly be treated as one investment ecosystem rather than eight competing national markets.
That idea should resonate strongly in the UAE.
Dubai's rise as a global trading and logistics hub was built around connectivity — ports, airports, roads, finance, technology and industrial zones working together rather than in isolation.
East Africa needs much the same approach.
A port needs efficient roads and railways. A manufacturing plant needs reliable energy and logistics. Farmers need irrigation, storage and cold chains. Digital businesses need data centres, cloud capacity and dependable connectivity.
This is where UAE expertise and capital could become particularly valuable.
Agriculture offers a natural starting point
Food security is another area where the interests of East Africa and the UAE intersect.
The UAE has substantial demand for food imports, while East Africa has land, labour and agricultural potential. The problem is that too much of the region's produce still leaves the farm without enough value being added locally.
A partnership in which East African farmers supply produce, local companies process and transport it, and UAE investors provide capital and market access would be more transformative than simply exporting raw commodities.
That is the kind of regional value chain the Nairobi forum was calling for.
From projects to bankable deals
Perhaps the most important lesson from the forum was that East Africa must become better at preparing projects for investors.
The region has no shortage of proposals. What investors need are projects with credible business models, capable management, clear revenue streams and manageable risks.
The forum's Reverse Investor and DFI Pitch Session brought businesses together with sources of equity, debt, blended and development finance. Investors stressed the importance of viable business models, cash flows, management capacity, growth prospects and ESG compliance.
This is where UAE capital could play a catalytic role — particularly when combined with development finance, guarantees, local financing and public-private partnerships.
The UAE can bring money and global networks. East African governments must provide the policy certainty and infrastructure that make those investments commercially viable.
Technology adds another dimension
The opportunity is not limited to physical infrastructure.
The forum identified AI, digital infrastructure, telecommunications, fintech and digital public infrastructure as important drivers of productivity and job creation. It also saw the launch of an EAC AI Alliance linking East Africa's technology ecosystem with Germany's Hessen region.
For the UAE, which is positioning itself as a global AI and technology hub, this opens another area for cooperation.
East Africa offers growing markets, a young population and real-world problems that technology can help solve. The UAE brings capital, technology partnerships and experience in deploying digital infrastructure at scale.
That combination deserves greater attention.
The challenge now is to turn that intersection into partnerships that create productive businesses, stronger regional value chains and jobs.
The Nairobi forum has provided the platform.
The next step is execution.
The author is a Global Communications Strategist and former Business and Technology Editor.
