“The annual budget will decrease from USD42 million in 2017 to USD32 million for 2018. This translates into a 30% reduction,” Mr. Ngwenya said. Member States are expected to contribute $16.7 million while cooperating partners are expected to provide $15.6 million
He told the delegates that funding from cooperating partners may however increase for 2018 if the programming processes of the 11th European Development Fund (EDF) funds are completed early and grant agreements are signed.
Among the COMESA agencies that will be affected are the Regional Investment Agency (RIA) the Federation of Women in Business (FEMCOM) and the COMESA Competition Commission.
In his official address, the Secretary General urged Member States to put up deliberate measures to increase the proportion of their financial contribution to the budget.
He noted: “At some point, our cooperating partners will naturally expect COMESA Member States to assume a greater share of funding of the COMESA work programme.”
To ensure the desired levels of integration and cooperation is achieved, the Secretary General called for the speedy implementation of agreed COMESA instruments by member states. He noted that the current levels of production and infrastructure development were affecting job creation and intra-COMESA trade.
“COMESA may not achieve the desired development milestones in 2020 at this low implementation level of COMESA instruments,” he said.
The Administrative and Budgetary Committee supports and guides the Secretariat in administrative, financial, human resources and audit matters.
During the three-day meeting, the Committee will consider matters relating to the management of human resources, review the current (2017) and previous (2016) performance and the 2018 work programme and budget for the COMESA Secretariat, institutions and agencies.
Delegates will examine the consolidated internal audit report which highlights areas that the secretariat is working on to enhance corporate governance and institutional systems
They will also review the internal financial controls ranging from strengthening of financial reporting, external audit, report on internal controls findings and new policy instruments.
Participants comprise technical officers from governments of the 19 COMESA member states. Their report will be presented to the 37th meeting of the COMESA Intergovernmental Committee and eventually to the Council of Ministers meeting next week for decision making.
Okay let’s slow down here. I think we are moving too fast.
What has happened to the $42M scandal? Are you telling me no one is going to jail for misusing public funds?
Has someone been taking notes on all the scandals that just recently surfaced? These issues are not dying today, trust me. They will definitely need to be dealt with at some point. We need to make people accountable for their actions
I don’t like Zambian cameramen, they go to close to presenters. So distracting.
TAKE SELFIES IF U DONT LIKE ZAMBIAN CAMERA MEN. TODAY IS EXACTLY 3 YRS WHEN SATA WAS BURRIED AS PF WE EXPECT ALL ECONOMIC REFUGEES TO COME TO ZAMBIA PAY TRIBUTE TO THE GREAT LEADER