By Anderson Ojwang
Member States of the East African Community (EAC) should hasten the development of an integrated market in order to harness the huge economic potential of the Lake Victoria Basin, participants of the first international Investment forum for the Lake Victoria Basin Commission (LVBC) held in Mwanza, Tanzania, heard.
The forum cited the 38 million-strong population along the lake basin, the abundance in mineral deposits, fish, agricultural, human resource, transport, and communication, saying the market could attract any form of investors.
The investment forum was barnstorming ways to promote and showcase the trade and investment opportunities and potentials of the Lake Victoria Basin.
"The enormous natural resources in the Basin provide great incentives to address the challenges and opportunities to provide a conducive environment for increased investments, employment and wealth creation in the basin," Secretary General for the East African Community Juma Mwapachu said.
Tanzania’s Water Minister Prof Mark Mwandosya said Lake Victoria’s water resources could promote regional co-operation, social and economic development by boosting environmental conservation, food production, power production, and transportation.
Intergrated blueprint
He called for an integrated water resources management blueprint, with investors partnering with governments to avail water resources and ensure the sustainability of the investment.
