Plans underway to acquire new COMESA headquarters
30-03-2020 14:10:00 | by: Pie Kamau | hits: 1037 | Tags:

The Yellow Card Scheme (YCS) has committed US$ 3.6 million towards the acquisition of the proposed new headquarters of COMESA.This is part of the US$33 million that the PTA-Reinsurance Company (Zep-Re) is selling its new state-of-the-art Business Park building in Lusaka suburb.

Both the Yellow Card and ZEP-Re are specialized agencies of COMESA with the former being a regional Third-Party Motor Vehicle Insurance Scheme. It provides legal liability cover and compensation for medical expenses resulting from road traffic accidents caused by motorists visiting countries in the Scheme.

The deal was reached during the 48th Meeting of the Management Committee of the Yellow Card Scheme at the COMESA Secretariat through video conferencing. Participants agreed to recommend to the Council of Bureaux of the Yellow Card that the Project should acquire one floor of the Zep-Re Business Park building for US$ 3,666,667 which the COMESA Secretariat was already processing partial payment. Zep-Re building was opened in December 2019 by the Zambian President H.E Edgar Chagwa Lungu.