The Democratic Republic of Congo has joined the East African Community (EAC) as its seventh member.
"We have been waiting for this announcement for a long time. We are very happy," Ley Molo Ley, a Congolese trader based near the Ugandan border, told the BBC.
If you are here, then you must be wondering what the fuss is all about.
What does it mean for you and I?
Well, stay with me to find out...
Many Congolese traders after DRC joins the EAC community
Congo's reputation has been known to be akin to that of the black sheep of any family; one with the highest potential and unfortunately an equal amount of havoc.
As a country bathing in resources, it is no surprise that its bloc partners are excited to be part of a pool with access.
For Congo, this is an opportunity to boost its trading opportunities, improve its social cohesion, and potentially better on its security.
Let's take a deep dive into what this development means for the rest of us;
Benefits of Congo DRC's entrance into the EAC community
#1: What are the perks of DRC's entrance into EAC?
#2: Smart Technology Opportunities
#3: How can you tap into this development?
#1: What are the perks of DRC's entrance into EAC?
Ease of travel
One of the biggest challenges experienced amongst Africans is the difficulty of travel within the continent.
A difficulty rendered by the high costs of visas, poor connectivity, and inadequate infrastructure.
DRC's entrance into the EAC will facilitate the ease of travel between partnering countries without the necessity of visas.
With the implementation of this being a mile from us, we celebrate the growing improvement of travel through regional blocs as Africa grows into a unified state.
This means that sooner rather than later, you and I will be able to easily travel to the wealth that is DRC.
Buckle up!
Ease of trade
DRC's emergence into EAC has subsequently brought in a consumer market of 90 million, which not only increases the bloc's trade potential but also reduces the cost of intra-regional trade, through the development of connectivity within the EAC.
The global effect of the ease in trade and increased trade markets reflects strength in the regional bloc's bargaining power across the globe.
True to the popular Swahili saying; Umoja ni nguvu
Expansion of market
The consumer market in DRC is 90 million, expanding the bloc's market to 300 million.
This not only increases the bloc's purchasing power but also provides DRC's partner countries with entry into West Africa and the Atlantic Ocean.
With a new identity as Africa’s largest Francophone bloc, the growth opportunities for the country members are projected to be massive.
Africa is rising, we are Africa.
We are rising.
Connectivity and transport
With these projected developments in the pipeline, an increase in connectivity and improvement in transport is presented.
This will entail the potential to open the Indian Ocean to the Atlantic Trade Corridor and connect the region to Central Africa, North Africa, and other sub-regions.
As a way to cater to the EAC markets and reduce the cost of intra-regional trade, connectivity with the EAC through the DRC railway network will be implemented.
This is fantastic news for traders and businessmen and women across the bloc, as the ease of transport and access to large markets is on the horizon with DRC's entry.
Access to minerals for technology
The fun has just begun!
Congo's mineral wealth is the origin of the raw materials that build some of the most innovative technologies which include; tantalum, tin, tungsten, copper, cobalt, and gold.
Although the controversy within this forte has forged the war and insecurity, the hope is that through development and the betterment of security, the EAC bloc will be able to share and tap into these mineral resources and scale their technology innovations.
#2: Smart Technology opportunities
With all these opportunities ripe on the horizon, what is far more exciting is the number of ways that we can leverage smart technologies to support these developments.
This objective is at the heart of Smart Applications' mission; to build innovative technology solutions that bring value and transformation to Africa.
Some of these opportunities include;
Developing transport and logistics smart applications for the EAC.
The projected improvement of connectivity, transport, and infrastructure presents Smart Applications with an opportunity to develop innovative technology solutions that may support trade and access within the EAC bloc.
Developing E-commerce and Trade smart applications for the EAC
With a market expansion of 300 million and a regional bloc aiming for seamless cohesion, Smart is placed at the centre of innovation to support this cohesion.
This applies particularly within the Trade and E-commerce sector, where these activities can be optimized within the EAC bloc through the implementation of Smart Apps for e-commerce and trade.
#3: How can you tap into this development?
Now that we understand the fuss, how can you and I tap into these impending transformations?
With the 'Africa rising' rhetoric at the heart of actualization, it is paramount that we all get a piece of the future that blossoms as a result of these developments.
A great place to start would be to learn more about them and the technological implications here.
Thank you for staying with me,
Till next time Smarties!
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