In a landmark gathering at the Regional Consultative Workshop on the Development of the COMESA and Trade and Development Bank Public Private Partnerships Guidelines in Kigali, Rwanda, experts and stakeholders convened to discuss the future of infrastructure investment in the COMESA region. On Monday, April 15, 2024, amidst the discussions, key insights emerged, emphasizing the critical role of collaboration and innovation in overcoming challenges and unlocking new opportunities for sustainable development.

Hajatiana Endor Cadet, The Director of Public Market Regulation Authority at the Ministry of Economy and Finance of Madagascar, highlighted the pressing challenges faced by member countries regarding infrastructure financing:

"There is a significant challenge to address regarding infrastructure markets within the member countries of COMESA. The challenge is to have this new law on public-private partnerships for the construction of infrastructure and to benefit from financing from development banks."

Dr. Bernard Dzawanda, the Director of Infrastructure and Logistics Division at COMESA, underscored the importance of private sector involvement in infrastructure development:

"We strongly believe that there is scope and room for the private sector to come in. They bring innovation, efficiency, and management expertise that can complement the efforts of the public sector."

However, Dr. Dzawanda also acknowledged the barriers to private sector participation, including concerns related to risk and security:

"Private sector investors are sensitive to issues related to risk and returns. Security concerns can impose risks on investments, making it crucial to create a safe and stable environment conducive to private sector involvement."

Addressing the challenges of resource inadequacy, Dr. Dzawanda emphasized the need for capacity building and creating an enabling environment for infrastructure investment:

"The main challenge is the inadequacy of resources. We need to develop the capacity and skills of member states to implement projects and make them attractive to the private sector."

In discussing the importance of developing guidelines, Dr. Dzawanda emphasized the role of harmonization and collaboration in driving infrastructure development:

"The guidelines provide a starting point for regional harmonization while allowing for adaptation to unique national circumstances. By developing guidelines, we can lower the cost of processes and facilitate collaboration among member states."

The workshop goes on with a renewed commitment to fostering collaboration, leveraging innovation, and harnessing the transformative power of public-private partnerships to address the infrastructure financing gap in the COMESA region. As the region continues to embrace new technologies and approaches, stakeholders are optimistic about the potential for sustainable and inclusive infrastructure development that will drive economic growth and improve the lives of millions across the continent.