A new study by Open for Business has revealed that East African countries are losing substantial amounts of money due to their anti-LGBTQ laws. The study estimates that countries such as Kenya, Uganda, and Tanzania are experiencing severe financial losses, with Kenya losing between $360 million to $1.5 billion annually, Uganda losing between $586 million to $2.4 billion, and Tanzania losing up to $1.1 billion annually.

The losses are attributed to reduced foreign investment, tourism declines, and cuts in international aid. The study suggests that these economic setbacks are a direct result of the discriminatory laws and policies enforced by these countries. In Kenya, for example, the Family Protection Bill 2023 proposes harsh penalties, including up to 50 years in prison for same-sex acts, and property owners who allow same-sex activity could face a $14,000 fine or up to seven years in prison.

In Uganda, the Anti-Homosexuality Act, signed into law by President Yoweri Museveni last May, has garnered international condemnation due to its severe penalties, including the possibility of a death sentence for "aggravated homosexuality." The World Bank suspended Uganda's funding over human rights tied to the anti-homosexuality law, and the United States put visa restrictions on Ugandan officials.

Tanzania has strict anti-LGBTQ laws with punishments including life imprisonment. Under former President John Magufuli (2015–2021), the government intensified crackdowns on LGBTQ individuals, shutting down HIV/AIDS clinics and arresting activists. These policies have hurt the country's reputation, discouraging foreign investment and tourism.

Rwanda, on the other hand, is one of a handful of African nations that do not criminalize gay sex, and the country is a signatory to a U.N. statement condemning violence against LGBTQ+ people. However, LGBTQ individuals still face social stigma and limited legal protections, which contribute to economic setbacks. Rwanda is estimated to be losing up to $45 million annually due to barriers LGBTQ individuals face in employment, healthcare, and social inclusion.

The study highlights the significant economic costs of anti-LGBTQ laws and policies in East Africa. It emphasizes the need for countries to reconsider their discriminatory laws and policies, not only for human rights reasons but also for economic benefits. By promoting inclusivity and equality, these countries can attract more foreign investment, boost tourism, and improve their overall economic stability.

The study's findings have significant implications for policymakers, business leaders, and human rights advocates. It underscores the importance of promoting LGBTQ rights and challenging discriminatory laws and policies. As the world becomes increasingly interconnected, it is essential for countries to recognize the economic benefits of inclusivity and equality.

In conclusion, the study by Open for Business provides a stark reminder of the economic costs of anti-LGBTQ laws and policies in East Africa. It is crucial for countries to prioritize human rights, promote inclusivity, and challenge discriminatory laws and policies to unlock their full economic potential.