M7 opens EA Business summit

President Yoweri Kaguta Museveni has called upon the five East African countries to shun aid if it is not economically oriented. He said that countries should instead foster economic integration through the business community in their respective countries.

The president was opening the 4 th East African Business Summit in Kampala. President Museveni has expressed concern over the reluctance of the 5 East African countries to revamp their economies to suit the global trend.

Mr. Museveni says governments in the East African countries should not continue welcoming donors whose intention is to allocate aid to activities that are not economically viable. Highlighting trade constraints like electricity and infrastructure Mr. Museveni said that countries should insist on aid aimed at rehabilitating the railway net work for economic transformation.

He blames the problem of fragmentation that has affected economic integration on the fore fathers who failed to unite against colonialism.

The 3 day East African Business summit is organized under the theme, Enhancing East Africa's competitiveness. It has brought together about 150 Chief Executives Officers of reputable organizations from the five East African countries