Ruto challenges COMESA to fast-track market levy as he pushes for sustainable funding of regional programmes

Ruto challenges COMESA to fast-track market levy as he pushes for sustainable funding of regional programmes - President William Ruto addressing the 25th COMESA Summit of Heads of State and Government in Harare, Zimbabwe. (Photo: PCS)

Ruto urges the COMESA Secretariat to fast-track implementation of the treaty’s market levy as regional exports rise to $14.7 billion and leaders seek sustainable funding for integration programmes.

President William Ruto has challenged the Common Market for Eastern and Southern Africa (COMESA) to unlock sustainable funding for its regional programmes, warning that ambitious integration plans risk remaining on paper without adequate financial backing.

Ruto urged the COMESA Secretariat to fast-track the implementation of Article 168 of the COMESA Treaty, which provides for the COMESA Market Levy, saying predictable financing is essential to delivering the bloc’s programmes and strengthening its institutions.

Speaking at the 25th COMESA Summit of Heads of State and Government in Harare, Zimbabwe, on Thursday, Ruto said the region must match its ambitions with sufficient resources to turn agreed commitments into tangible results.

“We cannot be ambitious in our plans and timid in our financing. Every programme we agree upon must be matched by the resources to deliver it. Otherwise, our communiqués will promise what our budgets cannot pay for,” he said.

“We must think more boldly about how we finance our own priorities. That begins with Article 168 of the COMESA Treaty on the COMESA Market Levy. I urge the Secretariat to fast-track it,” he added.

Call for greater financial independence

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Ruto, who was concluding his tenure as Chairperson of the COMESA Authority, called on member states to take greater ownership of the bloc’s financing and explore innovative ways to mobilise resources for regional integration.

He said officials from finance ministries, central banks and other relevant government agencies in member states were expected to consider a draft strategy aimed at strengthening COMESA’s capacity to raise funds for its programmes.

“I understand that officials from our ministries of Finance, our Central Banks and other relevant agencies will soon meet to consider the draft COMESA Resource Mobilisation Strategy. That strategy demands two things of us: Greater ownership by Member States, and greater innovation in how we raise resources, ” said Ruto.

He stressed that reliable funding was necessary to sustain regional programmes and institutions, pointing to the role of African financial institutions in mobilising capital and supporting investment.

Ruto cited the Trade and Development Bank (TDB), the African Trade Insurance Agency (ATIDI) and the Regional Agricultural Insurance Corporation (ZEP-RE) as examples of the financial strength available within the region.

Regional trade growth

Ruto also highlighted progress made during Kenya’s chairmanship of the COMESA Authority, citing growth in intra-regional trade, digitalisation initiatives and efforts to strengthen regional value chains.

He said exports among COMESA member states increased by 10.5 per cent to $14.7 billion (Sh1.91 trillion), reaching their highest level between 2020 and 2025.

Total exports from the bloc to the rest of the world also rose by six per cent to $212 billion (Sh27.53 trillion), reflecting the region’s expanding trade activity.

The 25th COMESA Summit was held under the theme, “One Market, One Future: Advancing Inclusive Industrialisation, Investment and Regional Integration in COMESA.