Moving Forward on Africas Regional Integration Agenda: Learning from Best Practices and EffortsEmmanuel Joshua Chinyama* and Daniel Tanoe
Investment Policy Section, United Nations Economic Commission for Africa, South Africa
- *Corresponding Author:
- Emmanuel Joshua Chinyama
Investment Policy Section
United Nations Economic Commission for Africa
E-mail: [email protected]
Received date: November 16, 2015; Accepted date: November 30, 2015; Published date: December 04, 2015
Citation: Chinyama EJ, Tanoe D (2015) Moving Forward on Africa’s Regional Integration Agenda: Learning from Best Practices and Efforts. Int J Econ Manag Sci 5:314. doi:10.4172/2162-6359.1000314
Copyright: © 2015 Chinyama EJ, et al. This is an open-access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited.
Implementatation of regional integration continues to face numerius challenges including inadeqaute financial resources. The major sources of finance has been the pleadges coming from member States’ contributions which in most cases have been inedeqaute and not forthcoming, making it very dificult for these institutions to effectively implement regional integration activities and programmes. Efforts are being made at both continental and regional levels to address the challenge of inaduqate financial resources and others. Several alternative sources of financing regional integration activities and programmes have been explored. However, thier implementation remain a challenge to many African member States. In addition to the alternative sources of finance, The African Union has take a board decision on the rationalisation of the RECs, aimed at putting the limmited resources from member States to its effective use. Despite these challenges, progress has been made in a number of areas inducing free movement of people, peace and security, macroeconomic convergence, and trade facilitation, particularly regional payment system which will assist in promoting trade by facilitating payment of goods and services in all regions without difficulties and also at a decreased rate.