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Friday, August 23,
2019 / 03:00PM / United Capital Research / Header Image
Credit: Accord.org.za
In East Africa's great lake region, several months of bad blood
between Rwanda and Uganda, seem to have come to an end. This was as Presidents
of both countries, alongside other affected countries, finally signed a pact in
Luanda, Angola to ease the escalating tensions. Notably, the enmity had
impacted neighboring economies - DR Congo and Republic of the Congo -
negatively, due to the closure of an important commercial crossing in Feb-19.
According to news report, the two leaders have
agreed to protect and respect the rights & freedoms of people residing or
transiting through their respective countries. Also, they promised to resume
cross-border activities including movement of persons and goods, as soon as
possible.
In our opinion, the peace treaty, if holistically
followed through by both leaders, is positive for long-term regional growth and
provides an additional boost to high-flying Rwanda that recently posted an 8.4%
GDP growth for Q1-19. However, we note that the agreement is still fragile in
its current state and can be sent south, if one of the leaders is perceived to
be unfaithful to the agreement.
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