Comesa region rich in mineral resources

THE Common Market for Eastern and Southern Africa (Comesa) region holds the highest potential for minerals development in the continent and the prospect can be sustainably harnessed by establishing harmonised governance structures.

Comesa secretary-general Mr Sindiso Ngwenya said this in his address at the recently held Africa Down Under (ADU) conference on mining in Australia.

He said sound institutional frameworks would enable Comesa’s national and sub-national governments to have a say in decisions regarding the use of the resources located in their territories.

“Good governance underlines the sustainable exploitation of mineral resources. Harmonisation of national and regional mining policies will thus underpin sustainable and broad-based socioeconomic development in the African region for the benefit of all the citizens,” he said.

In his address titled; “Promoting Sustainable Mining Development through Cross-Sector Alliances and Multi-Stakeholder Partnerships in Comesa”, Mr Ngwenya noted that more and more types of mineral resources can be more fully tapped as Comesa’s countries adopt the Mining Vision of Africa.

The ADU event is an annual event aimed at raising awareness of Australia’s interests in African mining and energy. The forum is attended by governments, investors, mining service industry, suppliers and mining consultants.

“The introduction of an appropriate policy mix and the best global mining practices in line with country specific circumstances would improve institutional capacities and fiscal governance,” Mr Ngwenya.

He further noted that multilateral trade agreements such as the Tripartite Free Trade Area signed by Comesa, East African Community and Southern Africa Development Community provide the necessary framework for multinational mining companies to do business.

Comesa’s mining industry is dominated by Zambia, Democratic Republic of Congo and Zimbabwe. Mr Ngwenya said the present surge in exploration and mining in the region indicates that Comesa countries have tremendous potential.

He said Comesa countries need to play a key role in pro-actively regulating the conditions for investments to secure the long-term development of their countries.

“While improved governance of institutions is critical at sector level, Comesa national governments’ forging optimal partnerships in building spatial linkages for economic diversification can have a multiplier effect on development outcomes, particularly in its landlocked low-income economies,” he noted.

In 2014, Comesa signed a memorandum of understanding with the government of Western Australia, which established a framework for the cooperation in mineral and petroleum resources, agriculture, vocational training and capacity building. — @okazunga