KAMPALA. Partial rules of competition has been cited as the main challenge the private sector in the Common Market for Eastern and Southern Africa (Comesa) region faces while doing business.
The second Vice President of Sudan, Dr Hasabo Mohamed Abd El-Rahman, said this at the on-going 18th meeting for Comesa ministers of Justice and Attorneys-General in Khartoum.
Mr El-Rahman said: “There is need to protect and promote Small and Medium Enterprises (SMEs) through fair competition as this would result in promoting competition across our borders.”
“We need a legal framework that will be fair enough to encourage competition and promote the development of MSMEs [Micro Small Medium Enterprises]. This will create jobs for the people,” Mr El-Rahman told the Justice ministers and Attorneys-General.
He noted that the Comesa court had addressed the various legal issues, which have been impacting on regional integration especially through arbitration of cases.
The Secretary General, Mr Sindiso Ngwenya, called on the governments to stop subsidising the private sector “as they do not pass the benefits they derive from the subsidies to the consumers.”
“... private sector driven companies benefiting from regional integration should also contribute to the integration agenda of the region especially those involved in mergers and acquisitions,” Mr Ngwenya said.
He said Comesa hopes to reduce the mergers and acquisitions fees from $500,000 to $200,000 (Shs1.4bn to Shs590m).