COMESA Calls For Investment In Infrastructure Development

By Allan Rotich Posted 04 May 2006 @ 07:14 pm EET     Print     Reprint     E-Mail     Comments

Nairobi (IBTimes.com) - Top official of the Common Market for Eastern and Southern Africa (COMESA) said here Wednesday that it requires 40 billion US dollars annually for infrastructure development in the region to achieve the goal of 7 percent economic growth in the region.

COMESA Secretary General Erastus Mwencha told a press briefing that the region needed a mechanism of public/private partnership to increase investment in the sector.

Commenting on the dual membership of some countries that are likely to be affected by the Customs Union (CU) being worked on byboth COMESA and Southern Africa Development Community (SADC), SADCChief Director for Infrastructure and Services Remmy Makumbe said it is possible for a country to remain in both organizations by 2008.

But he said the countries will have to make a decision by the year 2010 to belong to only one regional group after the Customs Union is implemented in both blocks.