Unlocking Success: The Ultimate Business Forum for Visionary Leaders

Official launch this Monday, October 28, 2024 of the work of the 17th COMESA Economic Forum by the Prime Minister of the Republic of Burundi Gervais Ndirakobuca. This event will be held in Bujumbura at the Kigobe Congress Centre, conference room “AGATEKA HALL”. Flash back to the opening ceremonies of this forum.

In the face of global economic challenges, COMESA presents resistance and adaptability which is reflected in its commercial performance.

Since Monday, October 28, 2024, business women and men from COMESA member countries are participating in the 17th edition of the COMESA Economic Forum. « This forum is a great and unique opportunity to discuss promoting economic growth and sustainability in the region. This is through infrastructure development, agricultural transformation, the development of the mining sector and tourism as well as in the fight against climate change. », declared Gervais Ndirakobuca, Prime Minister of the Republic of Burundi.

COMESA is Africa’s largest regional economic community with more than 640 million users. Its GDP is close to 1000 billion USD. Which shows the tremendous potential of this area. However, most member countries still face challenges in terms of infrastructure and market access. ” This forum is an opportunity to tackle these issues together to offer sustainable solutions and accelerate regional integration. », Said the head of the government. He demanded investment opportunities in the agricultural, mining and tourism sectors.

The regional organization remains dynamic

In the face of global economic challenges, COMESA presents resistance and adaptability which is reflected in its commercial performance. ” For the second consecutive year, exports within COMESA stabilize at USD 14 billion in 2022 and 2023 ” . Which shows the strength of regional economic relations. This consistency in terms of inter-regional exports is a solid basis for future growth and deeper economic integration, said Ms Chileshe Mpundu Kapwepwe, Secretary General of COMESA.

In order to promote the free movement of economic operators, Member States are revising their visa granting procedures. A huge increase in visa relaxation has been recorded in the COMESA region. So, ” Countries have allowed visas on arrival or visa-free entry for up to 90 days. They removed visa restrictions », said the Secretary General of COMESA. It encourages member states to go beyond entry requirements by examining establishment and residence rights, including work permit regimes.

Towards rational exploitation of minerals?

COMESA Member States are blessed with abundant mineral resources that can be processed into inputs in the manufacturing sector or exported in refined form. However, almost all of COMESA’s mineral wealth is currently exported in the form of minerals, concentrates, alloys or metals, with low added value, regrets the Secretary General of COMESA.

Studies show that mining revenues could fifth if African countries invested in mining infrastructure and technology. Hence the need to process raw minerals before export. ” This approach would not only generate more revenue, but also create jobs and stimulate the economy as a whole », concludes Prime Minister Ndirakobuca.

The effects of climate change are being felt

Climate change is a serious threat to African economies and people’s livelihoods. Sub-Saharan Africa is one of the regions most vulnerable to the effects of climate change. ” It is therefore essential that our efforts to develop regional value chains are accompanied by practices that can withstand the climate in order to protect our economies and the well-being of future generations.», Announces Prime Minister Ndirakobuca.

On the fringes of the forum, a high-level round table was organised. Stakeholders had the opportunity to discuss the support needed to create a competitive business environment. Participants looked at the development of climate-resilient regional value chains in agriculture, mining and tourism. The recommendations made will be presented at the 23rd COMESA Heads of State and Government Summit scheduled for this Thursday, October 31, 2024.