The East African Business Council, the apex body of the private sector in the East African Community (EAC) region, on Wednesday, August 14, extended its "heartfelt congratulations” to President Paul Kagame on his assumption of office as the President of Rwanda and as a member of the East African Community Heads of State Summit.

ALSO READ: Kagame sworn in as President for new five-year term

President Kagame was sworn in as Rwanda’s Head of State on August 11, beginning his new five-year term (2024-2029) before tens of thousands of Rwandans and international guests at Amahoro Stadium.

"The Board, Management, and Membership of EABC appreciate the commitment of the Government of the Republic of Rwanda in driving forward the EAC regional integration agenda. EABC acknowledges President Kagame’s steadfast determination to promote the private sector as the engine for socio-economic growth in the EAC bloc,” reads a related statement.

"Under President Kagame’s stewardship, the private sector has greatly benefited from fruitful public-private dialogues and policy reforms that have eliminated trade barriers and investment restrictions, thereby significantly improving the business environment. Indeed, Rwanda leads the EAC bloc with an impressive economic growth rate of 6.2% and a savings-to-GDP ratio of 12.4%.”

The statement notes that EABC remains dedicated to partnering with the Government of Rwanda to strengthen trade and investment ties within East Africa and across the continent for increased sustainable economic development.

"On behalf of the East African business community, count on EABC’s full support and partnership to drive socio-economic growth for increased prosperity for all East Africans.”