Look at the sheer wealth in your midst, East Africa. Cry. Then go and get rich

The most recent and detailed forecast for 2025 appears in the African Development Bank Group’s African Economic Outlook (AEO) 2024, published on 30 May 2024 during the Bank’s Annual Meetings in Nairobi. It states:

“East Africa, the continent’s fastest-growing region, will see real GDP growth rise from an estimated 1.5 per cent in 2023 to 4.9 per cent in 2024 and 5.7 per cent in 2025.”

The surprise is that East Africa—particularly the East African Community (EAC)—isn’t performing twice as well, given its vast potential. To truly shine, it must shed its destructive habits, starting with fostering greater peace.

In recent years, six of the 18 sub-Saharan African states with active armed conflicts were EAC members, accounting for roughly 33 per cent of such conflicts in the region.

The Democratic Republic of the Congo (DRC), Somalia, and South Sudan have endured high-intensity armed conflicts, while Burundi, Kenya, and Uganda have grappled with low-intensity, subnational skirmishes.

Beyond this, rampant corruption, governance failures, and political repression plague several EAC states. Yet the region boasts immense strengths it could leverage to rake in busloads of moolah.

For one, it has a decent share of arable land to revolutionise agriculture. Though Somalia, and to a lesser extent Kenya, drag it down, the EAC holds between 18 and 26 per cent of Africa’s arable land. The data here is shaky, and some generous estimates push this figure even higher.

The EAC is home to Lake Nalubaale/Nyanza (Victoria), Africa’s largest lake and the world’s second-largest freshwater lake by surface area, after Lake Superior in Canada and the US. Despite a handful of ships and mostly artisanal fishing, the lake sees little economic activity.

Yet, with its 1,000 islands, it could become the global capital of resort partying, tourism, and water sports. (Fun fact: Lake Bunyonyi in southwestern Uganda is 1,500 times smaller than Nalubaale but has 29 islands, giving it a far greater per capita wealth in islands.)

In these climate change-ravaged times, water is gold. Africa’s total renewable internal freshwater resources (internal river flows and groundwater from rainfall) are estimated at around 3,931 billion cubic metres. The EAC countries collectively hold 1,096.76 billion cubic metres—about 27.9 per cent of the continent’s inland freshwater.

Forests, too, have soared in value. Africa’s total forest area spans approximately 6.7 million square kilometres. The EAC’s combined forest area is roughly 2.46 million square kilometres—about 36.7 per cent of Africa’s forested land.

We owe much of this to the DRC joining the EAC; it alone accounts for around 27.1 per cent of the continent’s forest area, meaning the rest of the EAC is largely riding its coattails.

The EAC could also be a tourism titan. Consider the Pyramids of Giza (Egypt), Serengeti National Park (Tanzania), Mount Kilimanjaro (Tanzania), Victoria Falls (Zambia/Zimbabwe), Maasai Mara National Reserve (Kenya)—linked to the Serengeti’s migration—Table Mountain (South Africa), Kruger National Park (South Africa), Ngorongoro Crater (Tanzania), Zanzibar Archipelago (Tanzania), Sahara Desert, Okavango Delta (Botswana), Bwindi Impenetrable National Park (Uganda), Namib Desert (Namibia), Marrakech Medina (Morocco), and Virunga National Park (DRC).

Within the EAC, Bwindi and Virunga mean mountain gorillas—an arena where East Africa dominates entirely. Bwindi, Virunga, and Rwanda’s Volcanoes National Park host 100 per cent of the world’s mountain gorilla population.

The EAC also claims Africa’s five highest mountain peaks, though their icy summits are vanishing fast due to climate change. Mount Kilimanjaro (Tanzania) stands tallest at 5,895 metres, followed by Mount Kenya at 5,199 metres.

The Rwenzori Mountains (Uganda/DRC) house Mount Stanley, the third-highest at 5,109 metres, followed by Vittorio Emanuele Peak and Edward Peak, both in the same range.

Lower down, the Virunga Mountains (Rwanda/DRC/Uganda) feature a chain of volcanoes, including Mount Karisimbi (4,507 metres), while Mount Elgon (Kenya/Uganda), an extinct shield volcano, reaches 4,321 metres. Like the gorillas, this is another East African monopoly.

On renewable energy, roughly 27 per cent of Africa’s untapped non-solar renewable potential—hydropower, wind, geothermal, and biomass—lies within the EAC, based on an estimated 135 GW out of Africa’s 504 gigawatts.

This could range from 25–30 per cent depending on biomass estimates and project developments, driven by the DRC’s hydropower and Kenya’s geothermal, though tempered by weaker wind and biomass contributions.

The region is also a creative hub and a magnet for venture capital, largely thanks to Kenya’s star power. In 2023, Kenyan startups attracted £800 million in venture capital—28 per cent of all funds raised continent-wide.

EAC countries collectively secured 20 per cent of Africa’s $5.805 billion in tech funding that year, with Uganda securing $141.9 million, Rwanda $64.5 million, and Tanzania $25.8 million, all trailing behind Kenya.

For those, like Uganda’s President Yoweri Museveni, who champions growing populations, the EAC excels. Four of Africa’s 10 fastest-growing populations—Uganda, Burundi, DRC, and Tanzania—are EAC members.

East Africa might soon dominate Africa’s airways, too. Three of the top 10 African airlines—Kenya Airways, RwandAir, and Fastjet (Zimbabwe/Tanzania)—are EAC-based. If Ethiopia joins the EAC, Ethiopian Airlines, the continent’s leader, could shake things up. And if Air Tanzania and Uganda Airlines get their act together, it could be game over.

It’s becoming increasingly difficult for East Africa to excuse its failure to become an economic powerhouse.

Charles Onyango-Obbo is a journalist, writer, and curator of the “Wall of Great Africans”. Twitter: @cobbo3