07/2022
AfCFTA A GAME CHANGER FOR AFRICA’S TRANSFORMATION |
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On 7th June 2022, the AfCFTA Secretariat, the African Union Commission, and the Regional Economic Communities (RECs) met in Arusha, Tanzania to develop a Framework of Collaboration to enhance complementarity, synergies, and alignment of programmes and activities to facilitate the effective implementation of the AfCFTA. Among other outcomes, the meeting provided updates on steps towards the start of commercially meaningful trade under the AfCFTA. CBC's Acting CEO, Mr. Dickson Poloji, and Dr. Amany Asfour, CBC's Board Director & President the Africa Business Council, were in attendance amongst other private sector actors from the RECs. Read more here. |
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REGIONAL CODE ON ANTI-CORRUPTION COMPLIANCE TO ENHANCE TRADE IN THE COMESA REGION AND BEYOND Study findings on the Assessment of the requirements for Implementation of the Regional Code on Anti-Corruption Compliance and capacity of Business Associations and Enterprises have reviewed that development and implementation of policies, rules and procedures on Anti-Corruption Compliance are crucial for effective implementation of the Regional Code. Additionally, the study report suggests that other requirements for Business Associations and Enterprises to effectively implement the Regional Code include; financial, human, and technical resources, including tools with functions responsible for managing resources. The resource allocation should also extend to training and awareness about the Regional Code on Anti-Corruption Compliance. COMESA Business Council's Acting CEO, Mr. Dickson Poloji, has called for actionable commitments from Business Associations and Enterprises that will facilitate effective implementation of the Code.
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REGIONAL PARTNERSHIPS AND INVESTMENTS FOR SUSTAINABLE DEVELOPMENT |
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The parties endevour to resources in promoting Foreign Direct Investments (FDIs) consistent with the underlying institutional mandate and legal framework of the two institutions. The identified areas of collaboration include investment promotion and business facilitation, information exchange, collaboration and exchange programs, organization of events and aftercare facilitation. Read more here. |
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LOW SANCTIONS AND LACK OF HARMONISED POLICIES AND PROCEDURES IN COMESA A THREAT TO COMBATING ILLICIT TRADE |
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| A recent analysis conducted by CBC in partnership with Africa EU Rise, on the challenges impeding the crack down on illicit trade in COMESA has revealed that low sanctions, lack of harmonised policies and procedures, and lack of coordination among the relevant national authorities across Member States, remain the key threats. |
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The objective of the study was to assess the current illicit trade environment in COMESA across four sectors, namely: food, beverage, seed, electronics, and electrical goods, including tobacco production in Ethiopia, Kenya, Mauritius, Uganda and Zambia. Speaking during the virtual validation meeting that was held on 9th June 2022, CBC's Acting Chief Executive Officer, Mr. Dickson Poloji noted that illicit trade continues to pose a big challenge in regional and global trade investments to an extent of hampering sustainable development, thus the need for concerted efforts from the private and public sector in addressing the vice. The meeting also noted that combating illicit trade needs more severe sanctions to enhance their efficacy, and capacity of relevant authorities to investigate and prosecute offenders. Other international best practices for addressing the vice include, improved information sharing, enhanced coordination and strengthened cooperation between governmental authorities and the private sector. |
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CBC WELCOMES A NEW MEMBER OF STAFF |
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| We are thrilled to welcome our new staff member, Ms. Christabel Iliamupu who has joined us under the Federation of German Industries (BDI) project as a Communications and Business Services Officer. A strategic thinker with excellent interpersonal and communication skills, Ms. Iliamupu brings with her extensive experience of over 10 years in the media and communications industry having worked for various national, regional, and international institutions. |
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Her visionary perspective on communication has positioned her as an expert in Corporate Communication, Public Relations and more importantly in the development of communication and social media strategies and corporate branding. Christabel has had previous engagements with the World Bank Group, United Nations Development Programme and recently with the Zambia Medicines Regulatory Authority. She holds a master’s degree in Public Administration and a bachelor’s degree of Mass Communication. Read more, click here. |
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DIGITAL FINANCIAL INCLUSION - CBC GEARS TOWARDS IMPLEMENTATION OF THE REGIONAL DIGITAL RETAIL PAYMENTS SCHEME FOR MSMES IN COMESA |
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The CBC team with Dr Kupukile Mlambo, Deputy Governor of the Reserve Bank of Zimbabwe |
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Following the development of Model Policy Framework and the Business Model reports on the feasibility of supporting the design, development and deployment of an integrated digital financial services Infrastructure that is low-cost, interoperable and fraud resistant, COMESA Business Council has commenced preparations for the next phase of the project which will focus on piloting the installation of regional retail payment platforms. Thus far engagements meetings with partners, including but not limited to Central Banks Governors in the COMESA region, have commenced; they are centered on presentation of the Model Policy framework and the Business Model reports to Central Banks for consideration in readiness for the next phase of the project. The DFI project aims at establishing a digitally inclusive regional payment scheme that lowers transaction costs for MSMEs and streamlining cash based MSMEs into digital markets that enjoy affordable, interoperable, transparent, real-time financial transactions. This is envisaged to increase volumes of cross border transactions, financial inclusion and the participation of MSMEs in regional trade. |
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UPCOMING EVENTS
- 11th - 22nd July 2022: Membership Drives (Zambia and Uganda).
- 14th July 2022: Pharmaceuticals Workgroup Meeting > Register here.
- 2nd Aug 2022: Agroindustry/Manufacturers’ Workgroup Meeting > Register here.
- 18th Aug 2022: Duty Free Retail Wrokgroup Meeting > Register here.
- 31st Aug 2022: Tobacco Sub-workgroup Meeting of the Agroindustry Workgroup > Register here.
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© Copyright 2022, COMESA Business Council
COMESA Center, Ben Bella Road, P.O. Box 30051, Lusaka, Zambia |
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