Comesa adopts new ICT system

Munyonyo

The Common Market for East and Southern Africa (Comesa) has adopted a new information communication technology system, which seeks to reduce delays and bureaucracy in the trade chain.

The system dubbed Comesa Virtual Transit Facilitation System (CVTFS) will replace the existing practices. The system which has been approved by the Council of Ministers, allows all customs in the various Comesa member states to track the movements of the goods through different corridors.

Speaking about the system, Mr Sindiso Ngwenya, the Comesa secretary general said: “The system will assist traders to locate where their goods and trucks are while in transit.”

Mr Ngwenya also urged member states to make use of the Comesa Clearing House under the auspices of the Bank of Mauritius due its advantages including the provision of fast money clearances across the region.

Using the Comesa Clearing House, it takes any particular country only two days to transfer funds from one country to another.

The Comesa chairman, Mr Mathews Chikankeni challenged the private sector to take advantage of the market opportunities that the huge regional blocs present. He said this will be more effective if member countries look at industrialisation in the region, which has not been fully exploited for lack of intra-industrial trade.

Mr Chikankeni also highlighted the Comesa Electronic Market Exchange system, which allows the manufacturers, the buyers and the middlemen to have linkages.

dnakaweesi@ug.nationmedia.com