Govt proposes COMESA Circular Economy Fund
CLOUDINE MATOLA
Government has proposed the establishment of a Common Market for Eastern and Southern Africa (COMESA) Circular Economy Fund to finance businesses investing in cleaner production, energy-efficient technologies, recycling infrastructure and waste-to-value projects, as the region steps up efforts to accelerate green industrialisation.
Speaking at the COMESA Green Industries Connect in Harare on Monday, Industry and Commerce Minister Nqobizitha Ndlovu said the proposed facility would help enterprises adopt green technologies, improve productivity and develop commercially viable projects that deliver environmental benefits.
“I propose that COMESA explore the establishment of a COMESA Circular Economy Fund to support viable enterprises investing in cleaner production, energy-efficient equipment, recycling infrastructure and the conversion of waste into productive inputs,” Ndlovu said.
He said the fund would require careful structuring, sustainable financing mechanisms and transparent eligibility criteria to ensure resources were channelled towards commercially sound projects with measurable industrial and environmental benefits.
Ndlovu said accelerating the transition to green industrialisation would require coordinated efforts by governments, businesses, financial institutions and development partners, given the substantial investment, technical expertise, innovation and market access needed to transform regional industries.
“We must equally strengthen public-private partnerships. The transition to green industrialisation requires substantial investment, technical expertise, innovation and access to markets. Governments cannot deliver this transformation alone, nor can businesses operate effectively without an enabling policy and infrastructure environment,” he said.
He called for deeper cooperation among COMESA member states, manufacturers, recyclers, financial institutions, development partners and research institutions to turn promising ideas into bankable industrial projects.
Ndlovu also urged member states to move beyond policy commitments and focus on implementation by incorporating regional priorities into national industrial development programmes, assigning clear institutional responsibilities and mobilising the resources needed to deliver tangible results.
“Our immediate responsibility is to convert these commitments into implementation. Member States must integrate regional priorities into national industrial development programmes, assign clear institutional responsibilities, mobilise resources and establish mechanisms for monitoring delivery,” he said.
He said the COMESA Secretariat and its specialised institutions had an important coordinating role, but national governments needed to ensure that agreed programmes translated into investment, modernised production facilities, viable enterprises and measurable employment gains.
Ndlovu said governments should establish predictable policies, appropriate regulatory frameworks, reliable infrastructure and a conducive investment climate to encourage private-sector participation in green industrialisation.
Businesses, meanwhile, should identify viable investment opportunities, expand productive capacity, adopt cleaner technologies and strengthen their participation in regional value chains.
Financial institutions, development partners, universities and research institutions would also be critical to mobilising capital, developing appropriate financing instruments and supporting innovation.
The proposed fund could provide a regional financing mechanism for enterprises seeking to reduce waste, improve resource efficiency and develop new products from recycled materials, while supporting industrial competitiveness and sustainable job creation.
However, its effectiveness would depend on the availability of sustainable funding, clear governance arrangements and transparent criteria for selecting projects capable of delivering measurable economic and environmental returns.
