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the first African regional community to establish a common market, effective as of 1st July, 2010. EAC: PAST, PRESENT AND FUTURE BY Ambassador Juma V. Mwapachu tz 12 bn usd kenya 17 bn usd Similarly, Onyango-Obbo (2005) has noted that in Uganda's privatization process, 97 per cent of state-owned firms that were sold to 'indigenous' Ugandan s have failed. Onyango-Obbo, Charles (2005) 'Privatisation is dead; long live the free market m odel', East African 566: 12.