Kampala – Governors of central banks from the Common Market for Eastern and Southern Africa (COMESA) discussed a stronger drive for monetary and financial integration during their 29th Committee Meeting on Friday, 21 November 2025. The gathering focused on shaping the economic future of the 21-member bloc and improving regional trade.
Over the past 30 years, COMESA has advanced initiatives to simplify cross-border processes, enhance the ease of doing business, and stimulate intra-regional trade and investment. Intra-COMESA trade reached $14 billion in 2024, representing roughly 6% of the region’s total trade, showing potential for significant growth through deeper integration.
Dr Dev Haman, COMESA Assistant Secretary General for Administration and Finance, stressed the need to tackle trade barriers and improve regional cooperation. He cited ongoing reforms such as customs automation, digitalization of procedures, and closer coordination among border agencies as key measures to boost trade efficiency.
Dr Michael Atingi-Ego, Governor of the Bank of Uganda and COMESA Chairperson, said a resilient regional bloc depends on strong macroeconomic policies, active trade, and empowered financial institutions. He added that central banks play a pivotal role in building a more connected and self-reliant COMESA.
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