The Budget and Finance Division’s role is to provide Member States, Management, Secretariat and other stakeholders with financial services and advice they need and ensure that all the resources both budgetary and extra budgetary are properly accounted for in an efficient, secure and appropriately controlled financial environment.
- To develop, review and implement finance policies and procedures which meet COMESA’s operational needs and which are in line with its values, in order to support the achievement of its operational and strategic goals and objectives.
- To deliver or manage the delivery of a range of agreed financial services to internal customers to enable managers to manage budgets effectively, deploy COMESA’s resources for the intended purposes and enable staff to fulfill their client and customer financial needs/requirements.
- To safeguard COMESA’s financial resources and assets ensuring they are accounted for in accordance with GAAP and IFRS and are utilized in an efficient and effective way that enables the Chief Accounting Officer to discharge his mandate to COMESA’s stakeholders.
COMESA’s sources of funding are mainly the Member States and Cooperating Partners. The latter’s contributions are quite significant and account for twice the resources collected from the Member States. It is envisaged that COMESA will in future raise significant independent funding pursuant to a provision of the COMESA Treaty, Section 168 (1) which provides that, There is hereby instituted a Common Market Levy for the purpose of generating resources for financing Common Market activities;
It is being proposed that the Budget and Finance division consist of 3 sections namely; Budgetary Resources, Extra-Budgetary Resources, and Internal Control.
|Mr. Clement Kanyama, Director|
|Budget & Finance Division|