COMESA mobilizing $15bn for clean energy

By Masauso Mkwayaya

COMESA is mobilizing 15 billion U.S Dollars through the World Bank to accelerate sustainable and clean energy access in Eastern and Southern Africa.

COMESA Chairperson President HAKAINDE HICHILEMA says the International Development Association -IDA- has already committed 5 billion U.S Dollars.

President HICHILEMA says this is to provide electricity access to more than 100 million people over 7 years.

In a virtual address to the 6th Mid-Year Coordination Meeting of The African Union held in Ghana, President HICHILEMA said COMESA has over the years championed the construction of the Zambia-Tanzania-Kenya -ZTK- power interconnector.

President HICHILEMA also said the region has registered a 5.7 percent increase in GDP in 2023.

During the same address, President HICHILEMA said 20- million U.S Dollars has been invested in trade facilitation programs across COMESA Member States towards a borderless region for people, goods and services.

He said the money has gone towards the upgrading of border post facilities.

President HICHILEMA adds that the money has also gone towards the enhancement of customs management and single window systems across the region.

The President also said  the region has registered a 5.7 percent increase in GDP in 2023.

He said the Trade and Investment Development Insurance company portfolio exceeded 9.6 billion U.S Dollars worth of trade and investment projects.

President HICHILEMA said this supported member states in sectors such as agriculture, forestry and fishing, construction, energy and gas, financial and insurance activities, among others.