Will new financing model end EAC cash woes?

Monday, November 27, 2023 - 3 min read

The outgoing East African Community (EAC) chair, Burundian President Évariste Ndayishimiye (left), symbolically hands over to his successor, South Sudanese President Salva Kiir, during the 23rd Ordinary Summit of the EAC Heads of State in Arusha last week. PHOTO | STATE HOUSE

By Zephania Ubwani

What you need to know:

The leaders agreed on a hybrid system of equal contributions and remittances which will be based on each country’s economy.
Under the sustainable financing mechanism, there would be a 65 percent equal contribution by all the eight partner states.