Draft:COMESA Regional Investment Agency
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 | |
| Abbreviation | RIA |
|---|---|
| Formation | 2006 |
| Type | Intergovernmental Investment Promotion Agency |
| Headquarters | 3A, Salah Salem Road, Nasr City, Cairo, Egypt |
| Location | |
Region served | Common Market for Eastern and Southern Africa (COMESA) Member States |
Chief Executive Officer | Heba Salama[1] |
Parent organization | Common Market for Eastern and Southern Africa |
| Website | comesaria.org |
COMESA Regional Investment Agency (RIA) is an intergovernmental institution established in 2006 under the umbrella of the Common Market for Eastern and Southern Africa (COMESA).[2] It is dedicated to promoting regional and international investment, streamlining investor facilitation, and enhancing capacity building among national investment promotion agencies within the COMESA region.[3][4]
History
[edit]Incorporated in 2006, COMESA RIA was created to address the challenges of fragmented investment promotion efforts across Eastern and Southern Africa.[2] Over the years, it has evolved its mandate—from facilitating bilateral investment initiatives to launching comprehensive regional strategies that align with global best practices and the African Continental Free Trade Area. Its founding coincided with increasing globalization and the need for a harmonized regional approach to investment promotion.
Objectives
[edit]- Investment Promotion: Establish COMESA as a unified platform for international and regional investment.[5]
- Support to National Agencies: Enhance the capacity of national investment promotion agencies (IPAs) with tools, training, and best practices.
- Policy Advocacy: Collaborate with member states to harmonize investment policies and create a favorable business environment.
- Capacity Building: Organize workshops and training sessions to equip investment officials with global best practices.[6]
RIA’s operational strategy
[edit]| Aspect | Description | Key Performance Indicators (KPIs) |
|---|---|---|
| Vision | Establishing strategic goals for regional investment promotion aligned with COMESA’s long-term development objectives. | Innovation in investment programs; number of new international investor engagements, alignment with COMESA Agenda 2063. |
| Transparency | Commitment to open communication, public reporting, and regulatory compliance. | Frequency of public reports; investor satisfaction surveys; adherence to global best practices in governance. |
| Efficiency | Enhancing operational performance through streamlined processes and prompt investor facilitation. | Average response time to investor inquiries; cost-effectiveness of operations; measurable improvements in investment processing. |
Organizational Structure and Governance
[edit]Board of Directors
[edit]The Board of Directors provides strategic oversight and guidance for RIA’s initiatives. It is composed of senior representatives from COMESA and affiliated investment institutions. (Note: The following names are indicative and should be updated with current data.)
| Name | Position | Country/Institution |
|---|---|---|
| Ms. Heba Salama | Chief Executive Officer (CEO) | COMESA Secretariat / Egypt |
| Mr. Thierry Mutombo | Director General, National Investment Promotion Agency (ANAPI) | Democratic Republic of the Congo |
| Dr. Wycliffe Ambetsa | Managing Director, Kenya Investment Authority (KenInvest) | Kenya |
| Ms. Amina Benkhadra | Director General, Moroccan Investment Authority | Observer Partner (COMESA Affiliate) |
| Mr. Mulenga Chisanga | Director of Investment Promotion | Zambia Development Agency |
| Dr. Moustafa El-Shafei | Representative, General Authority for Investment (GAFI) | Egypt |
| Mr. Charles Mufwambi | Chair, Regional Private Sector Council | Regional Private Sector |
Internal Controls and Evaluation
[edit]RIA adheres to rigorous internal controls to ensure accountability and performance excellence. Regular performance reviews, audits, and external evaluations are conducted to measure the agency's impact and alignment with its V.T.E framework. This includes:
- Annual performance audits conducted by independent auditors.
- Bi-annual reviews of investment facilitation metrics.
- Public accountability reports available on the official website.
Member States
[edit]RIA serves all 21 COMESA member states. For further details on each country, refer to the main article on Common Market for Eastern and Southern Africa.
| Country | Capital | Currency | Independence Date | Current Leader |
|---|---|---|---|---|
| Burundi | Gitega | Burundian Franc (BIF) | July 1, 1962 | President Évariste Ndayishimiye |
| Comoros | Moroni | Comorian Franc (KMF) | July 6, 1975 | President Azali Assoumani |
| Democratic Republic of the Congo | Kinshasa | Congolese Franc (CDF) | June 30, 1960 | President Félix Tshisekedi |
| Djibouti | Djibouti City | Djiboutian Franc (DJF) | June 27, 1977 | President Ismaïl Omar Guelleh |
| Egypt | Cairo | Egyptian Pound (EGP) | February 28, 1922 | President Abdel Fattah el-Sisi |
| Eritrea | Asmara | Nakfa (ERN) | May 24, 1991 | President Isaias Afwerki |
| Eswatini | Mbabane | Lilangeni (SZL) | September 6, 1968 | King Mswati III |
| Ethiopia | Addis Ababa | Ethiopian Birr (ETB) | May 5, 1941 | Prime Minister Abiy Ahmed |
| Kenya | Nairobi | Kenyan Shilling (KES) | December 12, 1963 | President William Ruto |
| Libya | Tripoli | Libyan Dinar (LYD) | December 24, 1951 | Prime Minister Abdul Hamid Dbeibeh |
| Madagascar | Antananarivo | Malagasy Ariary (MGA) | June 26, 1960 | President Andry Rajoelina |
| Malawi | Lilongwe | Malawian Kwacha (MWK) | July 6, 1964 | President Lazarus Chakwera |
| Mauritius | Port Louis | Mauritian Rupee (MUR) | March 12, 1968 | President Prithvirajsing Roopun |
| Rwanda | Kigali | Rwandan Franc (RWF) | July 1, 1962 | President Paul Kagame |
| Seychelles | Victoria | Seychellois Rupee (SCR) | June 29, 1976 | President Wavel Ramkalawan |
| Somalia | Mogadishu | Somali Shilling (SOS) | July 1, 1960 | President Hassan Sheikh Mohamud |
| Sudan | Khartoum | Sudanese Pound (SDG) | January 1, 1956 | Chairman Abdel Fattah al-Burhan |
| Tunisia | Tunis | Tunisian Dinar (TND) | March 20, 1956 | President Kais Saied |
| Uganda | Kampala | Ugandan Shilling (UGX) | October 9, 1962 | President Yoweri Museveni |
| Zambia | Lusaka | Zambian Kwacha (ZMW) | October 24, 1964 | President Hakainde Hichilema |
| Zimbabwe | Harare | Zimbabwean Dollar (ZWL) | April 18, 1980 | President Emmerson Mnangagwa |
Activities and Initiatives
[edit]RIA's activities are designed to create a conducive environment for investment through various strategic initiatives, which include:
Investment Forums
[edit]RIA hosts the annual COMESA Investment Forum (CIF), a flagship event that brings together government officials, global investors, and business leaders.[7]
Capacity Building Workshops
[edit]The agency organizes tailored training workshops and capacity-building sessions for regional investment promotion agencies, focusing on investor facilitation, policy harmonization, and innovative FDI attraction methodologies.[6][8]
Online Investor Services
[edit]RIA maintains an interactive digital platform that offers:
- Comprehensive country profiles
- Detailed investment guides
- A one-stop portal for investor queries and business matchmaking
Policy Harmonization and Advocacy
[edit]RIA collaborates with member states to advocate for reforms and harmonize regulatory frameworks, thereby reducing barriers and fostering cross-border investments.
Publications and Research
[edit]RIA disseminates critical reports, including:
- COMESA Investment Handbook
- Annual Regional Investment Trends Report
- Country Opportunity Fact Sheets
Reception and Impact
[edit]RIA's efforts have been recognized by various regional and international media outlets. Analysts credit its comprehensive approach to improving investment climates across COMESA.[9] Nonetheless, ongoing challenges such as regulatory differences between member states and external economic fluctuations are noted in industry reports.
Partnerships and Collaborations
[edit]RIA partners with several international and regional organizations, including:
| Partner Organization | Role/Contribution |
|---|---|
| African Development Bank | Provides financial and technical assistance for capacity-building initiatives. |
| International Finance Corporation | Supports private sector investment promotion and strategic advisory. |
| United Nations Conference on Trade and Development | Offers investment policy analysis and advisory services. |
| World Bank | Collaborates on initiatives to reform the business environment. |
| African Union | Coordinates policy alignment with the AU’s Agenda 2063. |
See Also
[edit]- Common Market for Eastern and Southern Africa
- Investment promotion agency
- Foreign direct investment
- African Continental Free Trade Area
References
[edit]- ^ "About COMESA RIA". comesaria.org. Retrieved 2025-04-08.
- ^ a b "About Us – COMESA RIA". Retrieved 2025-04-08.
- ^ AfricanManager (2024-06-20). "COMESA at forefront of promoting economic unity across Africa, says RIA CEO Heba Salama". African Manager. Retrieved 2025-04-08.
- ^ "COMESA moving forward" (PDF). Focus on COMESA.
- ^ "COMESA Investment Promotion". comesaria.org. Retrieved 2025-04-08.
- ^ a b "COMESA RIA Holds Regional Capacity Building – Common Market for Eastern and Southern Africa (COMESA)". Retrieved 2025-04-08.
- ^ AfricanManager (2024-06-27). "Tunis hosts COMESA Investment Forum". African Manager. Retrieved 2025-04-08.
- ^ "COMESA organizes workshop for investment promotion agencies ahead of Africa 2018". EgyptToday. 2018-12-05. Retrieved 2025-04-08.
- ^ "Interview: Heba Salama, COMESA RIA" (PDF). Special Report Egypt.
External Links
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