East Africa: Comesa Bloc Eyes $30 Billion From Leather Sector
Regional Bloc Aims to Tap into Lucrative Industry
The Common Market for Eastern and Southern Africa (Comesa) bloc is eyeing a lucrative $30 billion market in the leather sector, according to a report by Business Day Africa.
Largest Leather Producer in the Region
East Africa is the largest leather producer in the region, accounting for over 50% of the total production. The region’s leather industry is worth over $2 billion, with Tanzania being the largest producer, followed by Kenya and Uganda.
Investments Needed to Meet Demand
To tap into the lucrative $30 billion market, the Comesa bloc is urging investors to pump in funds to upgrade and expand leather production facilities in the region. The bloc has identified several areas that require investment, including the development of raw materials, leather manufacturing, and leather products.
Comesa’s Strategy
Comesa’s strategy is to promote the leather sector through the development of infrastructure, human capital, and the establishment of quality standards. The bloc has also established a leather sector committee to oversee the development of the industry and ensure that the region’s leather products meet international standards.
Conclusion
The Comesa bloc’s aim to tap into the lucrative leather sector presents a significant opportunity for investors and manufacturers. With the right investment and support, the region’s leather industry has the potential to grow and become a major player in the global market.
FAQs
Q: What is the value of the leather sector in East Africa?
A: The leather sector in East Africa is worth over $2 billion.
Q: Which country is the largest producer of leather in East Africa?
A: Tanzania is the largest producer of leather in East Africa.
Q: What is the value of the leather market that Comesa bloc is eyeing?
A: The Comesa bloc is eyeing a lucrative $30 billion market in the leather sector.
Q: What is Comesa’s strategy to promote the leather sector?
A: Comesa’s strategy is to promote the leather sector through the development of infrastructure, human capital, and the establishment of quality standards.
