The world is undergoing rapid geopolitical and technological shifts, redefining the way economies operate, and businesses compete. To remain sustainable, institutions must embrace these changes, ensuring they are adaptable and proactive in integrating emerging technologies. The private sector, as a key driver of economic transformation, must take a leading role in this transition.
Recent developments in major economies offer crucial insights for our region. The trend toward private sector-led technological advancement, particularly evident in public-private collaborations, presents a compelling model for COMESA’s digital transformation journey.
A few key opportunities emerge from these global trends. First, private sector leadership in technological development allows our business community to create tailored solutions for regional challenges. From digital payments to cross-border trade facilitation, we can pioneer innovations that address COMESA’s unique needs.
Furthermore, the global movement toward reducing regulatory barriers while maintaining appropriate safeguards provides a blueprint for our policy advocacy. COMESA’s business community must actively engage with regulators to create an enabling environment for technological innovation.
The increasing focus on private investment in digital infrastructure additionally opens doors for international partnerships. By showcasing our market potential and commitment to digital transformation, we can position COMESA as an attractive destination for global tech investment.
However, our path forward must be distinctly our own. While embracing private sector leadership in technology, we must ensure our solutions serve local needs, particularly those of underserved communities. Innovation must go hand in hand with inclusion, benefiting all segments of our society.
The current geopolitical disruptions in Eastern Europe and the Middle East have also created unprecedented gaps in global food and essential goods supply chains, presenting COMESA with a strategic opportunity to emerge as a vital global supplier. Our region’s vast untapped human capital, when empowered through technology-enabled solutions, can be transformed into sophisticated, corporatised production networks. Through structured public-private dialogues, we can implement data-driven systems that strategically connect our skilled workforce with agricultural and manufacturing opportunities, building resilient supply chains that serve both regional and global markets. This transformation demands practical, innovative approaches: from AI-driven workforce matching and smart agriculture programs that enhance climate resilience, to comprehensive Track and Trace systems that provide real-time supply chain visibility. By investing in targeted upskilling initiatives for agricultural and industrial modernisation, we can position COMESA as a crucial player in rebuilding and strengthening global supply networks.
The COMESA Business Council (CBC) demonstrates this commitment through its initiatives in supply chain logistics optimisation, AI, space technologies, and digitalisation of other complementary trade facilitation tools. By fostering these advancements while advocating for enhanced trade frameworks, we’re building a more resilient and competitive business landscape. In the same vein, we’re also ensuring that these innovations serve the broader goals of regional integration and inclusive economic growth.
Embracing technological innovation is not just an option – it’s imperative for the business community’s survival and success in the modern economy. The private sector must lead this transformation, supported by enabling policies and regulatory frameworks.
By James Chimwaza, President of COMESA Business Council