Lusaka, Zambia – The 16th edition of the COMESA Business Forum commenced today in Lusaka, Zambia, gathering over 500 regional and international businesses for a one-day event preceding the COMESA Summit.
Organized by the COMESA Business Council, the forum serves as a multisectoral platform to showcase quality products and services that are gaining traction in regional and international markets, with a specific focus on the COMESA market.
Mr. Chipoka Mulenga, Zambia’s Minister of Commerce, Trade and Industry, inaugurated the forum, emphasizing its significance in empowering the private sector as key drivers of industrialization, economic diversification, trade, and investment in the region. He stressed the importance of collaboration and a conducive business environment supported by robust policies to foster shared economic prosperity.
“We must ensure that our policies and strategies are coherent, consistent, and complementary, supporting the overarching goal of an integrated, prosperous, and peaceful Africa driven by its own people,” stated Minister Mulenga.
Ms. Chileshe Kapwepwe, Secretary General of COMESA, highlighted the need for public-private sector partnerships to enhance intra-COMESA trade and stimulate economic growth. She expressed the organization’s commitment to leveraging existing institutions, such as the COMESA Business Council (CBC), to promote private sector development and foster regional trade.
Mr. Wamkele Mene, Secretary General of the African Continental Free Trade Area (AfCFTA), emphasized the opportunity to reset socially and economically now that the global Covid-19 pandemic is largely under control. He commended the Business Forum as a platform to explore strategies for post-pandemic recovery, including green investment, value addition, and tourism, as well as the implementation of the AfCFTA.
Mr. Marday Venkatasamy, President of the CBC, unveiled the CBC’s initiative to implement the Regional Digital Retail Payments Scheme for Micro, Small, and Medium Enterprises (MSMEs). This endeavor aims to address the intra-trade deficit in the COMESA region.
“The COVID-19 pandemic has taught us the importance of digitalization in expanding trade on a larger scale,” noted Mr. Venkatasamy. “It enables businesses to reach digitally connected customers worldwide, offering new products and services.”
The highlight of the Forum is the Presidential Round Table, themed “Economic Integration for a Thriving COMESA Anchored on Green Investment, Value Addition, and Tourism.” The esteemed panel includes Heads of State, regional leaders, and continental business figures.
