Comesa to roll out investment monitoring platform to member states

Comesa Business Council secretary general Mr Trust Chikohora told this paper that the trading bloc had adopted the investment monitoring platform, which is expected to be rolled out throughout the region.

 

“I attended the Comesa meeting on the Investment Monitoring Platform (IMP) which was bringing together private sector, investment promotion agencies and central statistical organisations from the Comesa region in Lusaka this week,” he said.

He said the IMP was developed by the United Nations Industrial Development Organisation.

“The two organisations will be rolling it out throughout the Comesa region. The IMP is a digital library and knowledge base which can be used as a tool for planning by investors, countries, businesses, researchers and various other stakeholders which may need investment information for various countries and the region as a whole,” said Mr Chikohora.

He said a pilot project for the programme had already been conducted in eight countries that include Rwanda, Kenya, Madagascar, Ethiopia, Burundi, Malawi and Zambia.

The feedback, Mr Chihokora said, was “very good” with information on 6 400 companies captured in the pilot project.

“It will now be rolled out to the rest of the Comesa region including Zimbabwe.”

He said investment was critical in the economy as it facilitated diversification and industrial development leading to wealth creation, adding that foreign direct investment was a driver of a healthy domestic sector.

Under the IMP, he said, companies would provide required information for the database through a harmonised questionnaire which will work throughout the region.

“The IMP will have quality information with sophisticated analysis tools which can be used to obtain useful information including comparisons with other countries throughout the region. Those companies willing may also have their websites contained on the IMP,” he said.

“Data includes investor characteristics and impact, among others. Investment promotion agencies can post reports, news and other details on IMP,” he said, adding that project feasibility analysis tools would also be on the monitoring platform.

Mr Chikohora said countries could use IMP to come up with evidence-based policies.

“A user can understand differences between countries and also for company and country benchmarking and strategic planning,” he said.