Latest news with #COMESA
Zawya
13-06-2025
- Business
- Zawya
East African Community (EAC), Common Market for Eastern and Southern Africa (COMESA) sign Memorandum of Understanding (MoU) to strengthen cooperation in competition and consumer protection
The Common Market for Eastern and Southern Africa (COMESA) Competition Commission (CCC) and the East African Community Competition Authority (EACCA) have signed a Memorandum of Understanding (MoU) aimed at enhancing cooperation in the enforcement of competition and consumer protection laws across their respective Member States The MOU sets out modalities through which the two regional agencies will cooperate and coordinate their activities in regard to cross-border competition and consumer protection enforcement, among other matters. The MOU further facilitates information sharing particularly during joint investigations, which shall be prioritized so as to safeguard the competition process and protect consumers in the region. The MOU also provides for cooperation and coordination in carrying out market inquiries and studies, technical assistance and capacity building as well as address the potential duplication in enforcement, thereby creating certainty and predictability in the market. Under the MoU, the two agencies have set up focal points tasked with coordinating and monitoring implementation of the prioritized activities through annual work plans. The two institutions have also committed to review various complementary regulations and guidelines to ensure they are fit for purpose. Speaking during the ceremony, Ms. Stellah Onyancha Ag. Registrar of the EAC Competition Authority said the signing of the MoU marks a significant step towards strengthening collaboration and promoting fair competition within the regional landscape. She commended CCC for its commitment and consistent support to the EACCA since its establishment in 2016 in terms of providing technical expertise on prioritization during its commencement, induction/capacity building for EACCA Commissioners, and assistance in the review of the merger guidelines of the EACCA, among others. 'I am confident that the MOU will further solidify the strong ties that already subsist between the EACCA and CCC, foster closer and more productive collaboration and enable the two agencies to contribute to the effective enforcement of their respective regional competition laws' On his part, Dr. Willard Mwemba, Chief Executive Officer of the COMESA Competition Commission said the MOU is a milestone at the end of what has been a long journey involving several negotiation meetings between two competition authorities in an effort to marry concurrent laws and activities.'It is our hope as COMESA Competition Commission that the signing of this MOU will enhance certainty to business merging within the COMESA and EAC Region, increase detection of cross border anti-competitive practices and consumer violations, and lead to enhanced cross border enforcement' CCC, a regional competition and consumer protection agency was established by the COMESA Competition Regulations of 2004 while EACCA, an institution of the EAC, was established by the EAC Competition Act, 2006. The CCC regulates competition and consumer protection matters in twenty-one (21) COMESA Member States while EACCA exercises the same mandate in eight (8) Partner States. Six (6) of the Partner States of the EAC have membership in COMESA. Distributed by APO Group on behalf of East African Community (EAC).
Egypt Today
21-05-2025
- Business
- Egypt Today
FM affirms Egypt's commitment to stronger ties with Malawi
CAIRO – 21 May 2015: Minister of Foreign Affairs, Emigration and Egyptian Expatriates Badr Abdelatty met with Malawi's Foreign Minister Nancy Tembo in Brussels on the sidelines of the Africa–EU Ministerial Meeting. During the talks, Abdelatty reaffirmed Egypt's interest in expanding cooperation with Malawi in areas including development, health, and transport, according to a press release by the foreign ministry. He confirmed Egypt's readiness to support Malawi's national plans through capacity-building programs run by the Egyptian Agency for Partnership for Development, as well as through joint development projects involving Egyptian public and private sector entities. The top diplomat also proposed increased cooperation in healthcare and transport and encouraged stronger trade ties through the COMESA framework and the African Continental Free Trade Agreement. Additionally, Abdelatty stressed the importance of continued consultation on African priorities and the need for unified African positions on global issues.
Daily News Egypt
21-05-2025
- Business
- Daily News Egypt
Egypt's Foreign Minister stresses peace, security, economic ties at EU-AU Meeting
Egypt's Foreign Minister Badr Abdelatty stressed the importance of peace, security, and economic ties at the European Union-African Union (EU-AU) Ministerial Meeting in Brussels on Wednesday, 21 May. He affirmed Egypt's commitment to bolstering the strategic partnership between the two blocs and held separate bilateral meetings on the sidelines with his Rwandan counterpart and the Secretary-General of COMESA. During the EU-AU Meeting's plenary session on 'Peace, Security, and Governance,' Minister Abdelatty delivered Egypt's statement. He highlighted that the gathering occurred amidst unprecedented regional and international challenges, underscoring that these circumstances necessitate a deeper EU-AU partnership to end conflicts, combat terrorism, address forced migration, and protect maritime security. Abdelatty welcomed the EU's consistent support for African frameworks confronting continental threats. The Minister reiterated Egypt's belief in a comprehensive approach to sustainable peace by strengthening the nation-state and its institutions. He emphasised that building state capacities requires joint efforts to achieve lasting peace and called for supporting AU and African regional economic communities in early warning, conflict prevention, and mediation. In this context, Abdelatty reviewed Egypt's role as the AU Champion for Post-Conflict Reconstruction and Development (PCRD). He detailed Egypt's collaboration with the AU Commission on updating PCRD policies, including the launch of the Cairo-based AU Centre for Post-Conflict Reconstruction and Development (AUCPCRD), and urged EU support for the AU Commission in this area. Furthermore, the Foreign Minister underscored the importance of supporting Somalia's pursuit of stability and prosperity. He stressed the critical need to fund the AU Transition Mission in Somalia (ATMIS) to achieve its objectives, adding that a successful African-European partnership in Somalia would model future cooperation. On the sidelines, Abdelatty met Olivier Nduhungirehe, Rwandan Minister of Foreign Affairs and International Cooperation. Minister Abdelatty affirmed Egypt's commitment to strengthening bilateral relations, highlighting cooperation in energy, infrastructure, logistics, trade, investment, health, agriculture, and security. He welcomed the finalised land allocation for two logistic zones, one in each country, to enhance Egyptian companies' access to the Rwandan market, and noted progress on the Egypt-Rwanda/Magdi Yacoub Heart Centre. Also on Wednesday, Abdelatty met Chileshe Kapwepwe, Secretary-General of the Common Market for Eastern and Southern Africa (COMESA). He praised Kapwepwe's efforts during Egypt's recent COMESA chairmanship for deepening economic integration. Abdelatty highlighted aspirations for cooperation in health, pharmaceuticals, tourism, and infrastructure to facilitate trade. He stressed Egypt's readiness to share expertise in specialised economic zones, the green economy, and solar energy, emphasising COMESA members' role in supporting the Secretariat to maximise economic integration benefits for overcoming regional economic challenges.
Business Insider
19-05-2025
- Business
- Business Insider
‘Cartels' in Kenya are largely to blame for expensive food prices in the country
A strange culprit has been identified as one of the root causes of soaring food inflation in the East African country of Kenya. Kenya is experiencing a rise in food inflation, heavily impacting the cost of living in urban centers like Nairobi. Key drivers of increased food prices include market concentration, uncompetitive practices, and the influence of trader cartels. Edible oil costs significantly exceed production expenses, attributed to inefficient supply chains and high markup pricing. Alongside, Tanzania's commercial capital Dar es Salaam, Nairobi is currently experiencing a food inflation that is driving up the cost of living for the average residents in these regions. A report by the Common Market for Eastern and Southern Africa (COMESA) Competition Commission (CCC), showed that both cities currently boast some of the highest maize costs in the broader East African region. For Kenya, a couple food inflation drivers were identified, including what the report described as 'cartels', as well as market concentration. As seen in the Star, the report reveal that due to unreasonably high profit margins imposed by dominant traders and uncompetitive market practices, Kenyan consumers are faced with the growing costs of basic food inputs like cooking oil and fertilizer. 'African agri-food markets are not working. These pricing distortions are undermining farmers and punishing consumers,' the report reads partly. Kenyans spend nearly twice as much for production and inputs before VAT in the edible oils market, according to COMESA, with the disparities being most noticeable in urban regions. As per the findings in the report, there is little competition, little market data, and a large concentration of influence among a small number of powerful companies in Kenya's market for agricultural inputs and outputs. This points to that inadequacies in the systems for distribution, storage, and transportation are contributing causes. It also points out that government subsidy programs aren't doing enough to protect Kenyan consumers from rising food costs. The report shows that fair value estimations are greatly out of line with retail pricing for important commodities. Subsidy measures are essentially futile in Nairobi since food goods are marked up by up to 53% over what the Authority considers fair price. Recent food inflation in Kenya Last month, reports indicated that Kenya's inflation continued to climb, as its annual rate reached 4.1%, the highest level in eight months. The surge was fueled by a scarcity of critical food staples such as maize, potatoes, and green vegetables, crops which were highlighted in the COMESA report. In the face of comparatively modest input and processing expenses, Kenyans have to pay up to $3 per liter for cooking oil, which is more than twice the price estimated by underlying cost structures, the COMESA report revealed, stating, 'Vegetable oil is largely imported as crude oil and refined locally.' Kenya's bureau of statistics (KNBS), in presenting the inflation report noted that Kenya's reliance on rain-fed agriculture implies that irregular weather patterns, along with supply chain interruptions, can quickly result in food shortages and price increases. Another report by the KNBS, revealed that agriculture accounts for a significant portion of Kenya's exports.
Business Insider
19-05-2025
- Business
- Business Insider
US tariff: Africa's largest trade alliance mulls joint response as 8 member states face pressure
The Common Market for Eastern and Southern Africa (COMESA), Africa's largest trade alliance, is considering a coordinated response to rising trade tensions with the United States. COMESA, Africa's largest trade alliance, is addressing U.S. tariffs impacting its members. The strategy includes enhancing intra-regional trade and pursuing new international agreements. Eight affected countries face economic challenges due to U.S. tariffs introduced as part of trade measures. COMESA, representing 19 member states and a population of about 390 million, is preparing to push back against U.S. tariff measures that have impacted several African countries both within and outside the bloc. The reciprocal tariffs imposed by U.S. President Donald Trump have placed eight COMESA member states under mounting economic pressure, prompting calls for a unified response. In a policy statement released this week, COMESA outlined a ' variable cooperative game strategy' aimed at countering the impact of the tariffs. The proposed approach includes pursuing alternative trade agreements, enhancing intra-regional trade, and accelerating investments in regional infrastructure to reduce external dependencies. The eight affected member states which include Democratic Republic of Congo (11%), Libya (31%), Madagascar (47%), Malawi (17%), Mauritius (40%), Tunisia (28%), Zambia (17%), and Zimbabwe (18%) now face mounting challenges as a result of the U.S. tariffs. U.S. president Donald Trump said these tariffs which took effect on April 2 were part of efforts to address trade imbalances and boost domestic manufacturing in the United States. COMESA's position COMESA is exploring new trade alliances through formal negotiations and binding agreements with partners such as the European Union, China, Japan, India, the Middle East, and other aligned economies. The goal is to unlock new markets and offset the impact of recently imposed U.S. tariffs that have strained several member states. This proactive stance places COMESA ahead of other African blocs, including the Southern African Development Community (SADC) and the East African Community (EAC), which are expected to hold meetings later this month to chart their own responses to the U.S. trade actions. Although the United States is not among COMESA's top trading partners, the bloc warns that the new tariffs could still trigger widespread disruptions. The U.S. tariffs have drawn criticism from COMESA and SADC, which argue that they undermine the benefits African countries enjoyed under the African Growth and Opportunity Act (AGOA). For nearly 25 years, AGOA has granted eligible African nations duty-free access to the U.S. market for thousands of products, playing a critical role in shaping U.S.-Africa trade and recognizing the continent's developmental needs.
