COMESA business community set to benefit from € 10M EU kitty

The business community in COMESA member states is set to benefit from the 10 Million Euro kitty provided by the European Union to support increased private sector participation in regional and global value chains.

This follows the signing of a financing agreement between the European Union and COMESA to implement the regional Enterprise competitiveness and access to markets programme (RECAMP) under the 11th European Development Fund.

The programme will focus on Horticulture, Leather and Leather products and agro-processing.

COMESA Secretary General Chileshe Kapwepwe says the programme will ensure that competitiveness and market access by small and medium enterprise (SMEs) and other firms in the targeted value chains is sustainably enhanced.

Ms. Kapwepwe explains that the programme will also facilitate networking, access to knowledge, vital market information and support formal business linkages between SMEs, key regional suppliers and lead firms.

Speaking during the signing ceremony, Ms. Kapwepwe has stressed that the programme will focus on improving the business environment for SME’s and other firms in the selected value chains by complimenting current national strategies developed by member states for economic transformation through industrialization .

Ms. Kapwepwe adds that the programme is consistent with COMESA’s integration agenda and is complementary to the Africa-Europe Alliance for sustainable investment and jobs.

Speaking at the same event, Head of European Union Delegation to Zambia Ambassador Alessandro Mariani says the targeted value chains were selected for having high demand both in the region and international market.

Mr. Mariani believes that the selected value chains present the biggest opportunities for participation of women and youth-led small and medium enterprises through development of strong partnerships with large corporations in the upstream of the value chains.