TRYNESS TEMBO
Lusaka
COMMON Market for Eastern and Southern Africa (COMESA) Secretary General Chileshe Kapwepwe has urged member states to remain competitive and resilient in order to attract more capital, despite the region recording a record US$65 billion in foreign direct investment (FDI) inflows in 2024.
Ms Kapwepwe said that while the performance is encouraging, there is no room for complacency as member states seek to leverage shifting global supply chains.
She was speaking during the 2nd COMESA Investment Forum (CIF), held under the theme “COMESA: The single market leap”, organised by the COMESA Regional Investment Agency (RIA) in collaboration with the Kenyan Ministry of Trade, Investment and Industry.
“Despite a record US$65 billion FDI inflow in 2024, member states should not sit back but remain competitive and resilient.
There are three key strategies: boosting intra-regional trade and investment while attracting foreign investors; leveraging global supply chain shifts by improving investment regimes and environments; and collectively promoting member states while strengthening collaboration among investment agencies,” she said.
At the same event, Kenyan President William Ruto, in a speech read on his behalf by Permanent Secretary for Investment Promotion Abubakar Hassan Abubakar, emphasised the need to translate regional integration into tangible investment opportunities.
He said COMESA is ready for business, citing improved policies, infrastructure development, expanding markets and a skilled workforce.
“Regional integration is imperative, and we must adopt innovative strategies to enhance intra-COMESA trade and investment,” he said.
COMESA RIA chief executive officer Heba Salama noted that the region’s share of global FDI has grown significantly, strengthening its position as a leading investment destination in Africa.
She said sustaining the momentum will require prioritising value addition, expanding cross-border digital infrastructure and investing in youth skills development.
The forum, which attracted more than 250 policymakers and business leaders, also saw the launch of the COMESA Interactive Investment Map, a digital platform designed to showcase investment projects in real time and connect entrepreneurs with global financiers.
The Investor’s Guide to Kenya was also launched by Ms Kapwepwe and InvestKenya CEO John Mwendwa, outlining key investment opportunities in the East African economy.
On the sidelines of the forum, CEOs of Investment Promotion Agencies (IPAs) held a technical meeting chaired by COMESA Assistant Secretary General (Programmes) Mohamed Kadah.
The meeting, supported by UNCTAD and UNIDO, focused on capacity building and preparation of the upcoming COMESA Investment Report, expected later this year…https://enews.daily-mail.co.zm/welcome/home
