COMESA partnership with ZANACO reaches greater heights

The COMESA SME Toolkit in partnership  with ZANACO held a five day SME Training from the 14-18 November 2011 at the  COMESA Secretariat attracting participation from SMEs that are doing business  and banking with ZANACO from various parts of Zambia.

During the official opening of the  workshop, Deputy Minister in the Ministry of Commerce, Trade and Industry,  Keith Mukata, who was the guest of honour, said that the COMESA region depends  on well-equipped and empowered young people who are able to build vibrant  private sector businesses based on entrepreneurial culture and principles.

  “They say that youths are the leaders  of tomorrow, and so if we as government don’t empower these youths with the  relevant skills and business environment that is conducive for their success in  business, then we are just killing the future of the nation,” Mukata said.

“As a youth myself, I will be your  ambassador to make sure that government provides the necessary environment for  you to do business on a leveled playing field.”

He added that government will push for  further reduction of lending rates by the banks and urged the SMEs to promptly  pay back the loans given by the banks.

He urged the participants to take the  training seriously so as to contribute to the growth of the Zambian economy.

Speaking at the same function, COMESA Secretary  General, Sindiso Ngwenya, said that he is happy to be the patron of the SME  Toolkit as he has seen how it has helped so many small-scale businessmen and  women in country.

Mr Ngwenya said that the SMEs account  for a large portion of the country’s Gross Domestic Product.

He, however, challenged the banks in  the country to provide incentives that will enable the SMEs to grow into multi-national  companies.

“I am now addressing the banking  sector in Zambia: you seem to have concentrated on the big companies forgetting  that the SMEs are also eager to grow into big companies like ZAMBEEF,” Ngwenya  said.

“Make borrowing for the serious  upcoming businessmen and women like these easier so that they also enjoy the  benefits as the big companies.”

ZANACO PLC Director of Retail Business  Mr Arjan Poels said that his company intends to widen its customer base for the  SMEs across the nation to enable most of the small scale businessmen and women  access the funds.

He said that ZANACO has enjoyed its partnership  with the COMESA SME Toolkit and has been conducting training countrywide during  the months of July to November 2011 with over 2,000 SMEs.

  The American Embassy representative,  Mr Phil Nervig said that his government is happy to be on board to support  initiatives that help eliminate poverty in the nation.

“Our interest is in the business plan  competition. The American Chamber of Commerce will help in mentoring the winner  for a period of one year, and get them one-year membership to the American  Chamber of Commerce,” Nervig said.

The purpose of the training was to stress  the importance of banking as a financial management tool beyond lending or  borrowing money by and from the bank.

Alongside  the training, the  COMESA SME Toolkit also held the Annual Global Entrepreneurship Week with the  following activities:

•   Speed networking sessions, 
•  A special women-in-business day on  Wednesday, 16 November 2011 at the American Centre; and 
•  A business plan competition  for young entrepreneurs of 15 – 35 years; and students. This was held from the  14 – 19 November 2011.

 Over 100 countries participated in the  event, which connected millions of young people from around the globe. They engaged  in activities that had them exploring their potential and turn their ideas into  reality.

This year’s event was under the theme:  “Unleashing ideas with the aim of promoting the culture of entrepreneurship.”

As a result of the programme, a third year  University of Zambia student Julia Gondwe, represented the Zambian Student  Entrepreneurs in New York at the 2011 Global Students Entrepreneurs Awards held  between 17 - 19 November 2011.

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Finland Presents Credentials to COMESA

COMESA Secretary General, Sindiso  Ngwenya, on Wednesday received Letters of Credence from the Finnish Ambassador  to Zambia and now COMESA Permanent Representative, Ambassador Pertti Anttinen, at  his office at the Secretariat.

Speaking at the occasion, Ambassador  Anttinen said that deepening regional integration will bring about improvement  in the living standards of the people in the region through increased trade,  jobs and business opportunities.

“The fact that intra-COMESA trade has tripled  in the past decade and weathered quiet well the impact of the global crisis in  the process, is just an indicator of true integration potential.”

“My country shares your view that the  utilisation of appropriate technologies and deployment of modern innovation  practices is necessary for expedited economic and industrial development. And as  we have indicated earlier, we acknowledge and appreciate the high priority that  COMESA accords to the swift and effective implementation of the STI programme,”  he said.

He added that Finland will continue to  intensify her co-operation with COMESA in support of regional integration given  that his country is now quiet advanced in establishing the scope of the potential  co-operation in the field of science, technology and innovation.

Mr Ngwenya pointed out that COMESA’s  major challenge in the integration agenda is the deepening of market  integration, infrastructure and industrial development.

  He said that it is essential that  COMESA development goals are achieved through value addition, diversification,  harnessing science and technology; and accelerating economic growth and  transformation if livings standards of the people in the region are to be  improved.

“Your Excellency, as you know, already  we have a consultant sent by your government to explore areas of cooperation  with us. We look forward to seeing the consultant’s report in order to develop  programmes and co-operation in the area of ICT,” he said.

He added that the COMESA region stands  to benefit from the major firms in telecommunications like Nokia; electronics,  X-ray machines like Planmeca; instruments, metal working and forestry; meteorology  and climate measurement systems like Vaisala, and construction like Poyry.

“Your Excellency, COMESA already has  institutions which could effectively co-operate with Finland in various areas  and these include the Development Fund, the COMESA-EAC-SADC Tripartite Infrastructure  Master Plan; and your provision of technical and financial support to the infrastructure  project preparatory ad implementation unit, especially in energy, roads and  ports”, Mr Ngwenya said.

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SG welcomes World Bank Country Director

The World Bank Country Director for  Malawi, Zambia and Zimbabwe, Ms Kundhavi Kadiresan, paid a courtesy call to the  COMESA Secretary General, Sindiso Ngwenya at his office, on Tuesday, 22  November 2011.

Mr Ngwenya welcomed the Director to  Zambia, and the COMESA Secretariat in particular; and he expressed the  Secretariat’s anticipation and willingness to work with her to advance the good  relationship that COMESA has with the World Bank, and other donor agencies.

“I do hope we will be able to put  investment programmes together to support the Member States. For example, so  far eleven countries have signed the Comprehensive Africa Agriculture  Development Programme (CAADP), under NEPAD, but your role is important as we  support the programme for the advancement of the region,” Mr Ngwenya said.

He acknowledged the support of the  World Bank towards ventures like the public procurement programme, which has  also been supported by the African Development Bank; where at regional level a  website has been set up so that governments can post tenders and Member States  participate and compete fully.

“However, we have a lot of work to do  in states like South Sudan where we were needed yesterday, and your assistance  in resolving perennial governance issues elsewhere in the region is also  welcome,” he said.

He also pointed out World Bank support  to the region in auditing the business process on the border posts, the Time  Release project, and the coordination of various infrastructure projects in the  region.
“There are a number of donors in the  region and it is important that these are brought together for the effective  harmonization of any interests at stake, to avoid undermining any project,” he  said.
Mr Ngwenya added that the production  structures in the region are not complimentary, implying that the growth may  not be sustainable as many countries are producing the same thing and exporting  with little or no value addition.

“We need the World bank to assist us  deal with the strategic issues that underlie economic development.”

Ms Kadiresan said she was keen to be  the convener of discussions to focus on strategic issues; and that she was  willing to compliment institutions in the region to achieve strategic goals.
“Countries in the region, especially  the ones that are land locked, need strategic support in areas like  agricultural and infrastructure development in order for them to achieve their  development goals,” she said.

  The World Bank Country Director added  that she was looking forward to working with the COMESA Secretariat and that  the World Bank will continue to follow up on strategies for development in the  region, given its long-term commitment to economic development.
Mr Ngwenya emphasized the need for  countries to work together on the political level in order to enforce  implementation of the various projects.

“Going forward, financing regional  integration from the national budgets and strengthening linkages among Member  States are important so that each country harnesses its strong points. That is  the only way that trade facilitation and beyond the border policies will make  sense for the citizens and deliver value to their lives,” he said.

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COMESA and China Development Fund explore ways for co-operation

COMESA Secretary General, Sindiso  Ngwenya, met the Heads of the China Development Bank and the China-Africa  Development Fund in Lusaka on Monday, 22 November 2011 and discussed ways of  cooperation especially in the area of infrastructure development and finance.

China Development Bank Chief  Representative in Zambia Mr Li Yong, China-Africa Development Fund  Representative in Zambia Mr Li Dongwei, China Development Bank Assistant to the  Commissioner for International Cooperation Mr Xie Peng and Mr Tang Zhiyan from  the Jidong Development Group expressed keen interest in working with the COMESA  Secretariat and identify regional projects that can be supported.

Mr Ngwenya told the investors that  COMESA feels that the private sector is missing in the current China-COMESA  partnerships especially in the area of institutional capacity building and  financing.
“The COMESA region is well endowed  with natural resources, which we have not fully exploited. We need to put up  good infrastructure and encourage competition in order to bring about  development,” Mr Ngwenya said.

He briefed the Chinese delegation on  the strong partnership that most COMESA countries are enjoying with China. For  example, China is a shareholder in the PTA Bank, which is a COMESA institution;  and the Export and Import Bank of China is also actively involved in most  COMESA countries.

Mr Li Yong said the China Development  Bank is happy to enter into various forms of cooperation with COMESA and so far  they are actively involved in six COMESA countries providing finance,  investment and financial advisory services.

The China-Africa Development Fund was  launched in 2006, at the Beijing Summit of the Forum on China-Africa  Cooperation. Chinese President Hu Jintao announced that China would undertake  eight measures to forge a new type of China-Africa strategic partnership,  strengthening bilateral cooperation in more areas and at a higher level.  Amongst them was the measure to establish a China-Africa development fund,  which will eventually reach US $5 billion, to encourage and support Chinese  enterprises to invest in Africa.
The establishment of the China-Africa  Development Fund embodies the principles of "enhancing friendship,  treating each other as equals, extending mutual support; and promoting common  development" in strengthening the ties between China and Africa.

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