A renewed push for deeper monetary and financial integration dominated discussions as COMESA’s Central Bank Governors met for their 29th Committee Meeting in Kampala on Friday 21 November 2025. They mapped out the region’s economic future and underscored COMESA’s core objective which is to accelerate economic growth and improve livelihoods through robust regional integration and trade facilitation.

Over the past three decades, COMESA has pressed ahead with initiatives to streamline cross-border procedures, boost ease of doing business, and accelerate intra-regional trade and investment. Intra-COMESA trade reached $14 billion in 2024, a notable milestone, but still only accounts for about 6% of the region’s total trade, signaling substantial room for growth and deeper integration.

Speaking during the opening ceremony, Dr Dev Haman Assistant Secretary General for Administration and Finance stressed the need of addressing trade barriers and strengthening regional cooperation as essential to unlocking this potential.

He highlighted ongoing moves to improve cross-border efficiency through customs automation, digitalization of procedures, and closer coordination among border agencies.

Dr. Michael Atingi-Ego, Governor Bank of Uganda and Chairperson of COMESA said a resilient COMESA hinges on robust macroeconomic policy, vibrant regional trade and empowered financial institutions. With decisive action, central banks can anchor a more connected, prosperous and self-reliant COMESA.

The meeting closed on high note as the Governors pledged to continue working towards strengthening the financial systems that will enhance monetary cooperation in the 21 member trade and economic bloc.