mzeiya
Elder Lister
EAC Has Big Money Troubles. Solution? Let Kenya Run The Show, Scrap EAC Parliament and Court of Justice To Cut Costs
East African Community, home to nearly 305 million people, and Africa’s most integrated and fastest growing bloc, has a shabby side. It is in big money trouble, with half the members absolute deadbeats, reports . @The_EastAfrican. It had only received half of its $104 MILLION budget by the time its 2023/24 financial year closed on May 17.
DR Congo which joined in 2022, is its most delinquent member. It is yet to remit a single cent in suscriptions and owes $14.7M. Only Kenya has update remittances. Burundi owes $12M. South Sudan, whose President Salva Kiir is the rotating Chair of the EAC, owes $8.6M. Three countries have what the publication describes as “relatively small balances”: Rwanda owes $2.7M, Uganda $960,774, Tanzania $122,694.
What might be done? First, leaders of freeloader countries that haven’t paid up at least 75% of their dues should never get to chair the EAC. Secondly, the diligent payers like Kenya, should call the shots. Third, the salaries of staff should be pegged to their countries’ subscription – they get only the percentage submitted by their nations.
There are also some expenses that the EAC can get rid of. We don’t desperately need an East African Parliament (for now) whose annual budget is nearly $18M, and an onsite East African Court of Justice, whose budget is close to $4.5M. It should be a circuit court. When the region gets richer, and the members better governed and scrupulous with money, everything can be started up again.
