The Sunday Mail
Sunday Mail Reporter
The ongoing Sadc Extraordinary Summit on industrialisation which started in Harare yesterday is vital for job creation and poverty alleviation, industrialists and economists have said.
The regional bloc’s chair for commerce and industry, Mr Oswell Binha told The Sunday Mail that the regional bloc has recognised the importance of industrialisation and value addition for the development of member states.
Mr Binha hailed Harare for setting the agenda on industrialisation and economic development.
“Previous summits probably for the better part of the grouping’s history has been more of political discussions. I think as Harare we have started on a good note through the introduction of economic development and industrialisation on our agenda during our summits,” he said.
Mr Bimha said Africa has been exporting raw materials while importing finished goods and the talk of industrialisation was the missing link.
He said the private sector has already made a commitment to support the region in value addition and industrialization.
Buy Zimbabwe chief executive, Mr Munyaradzi Hwengwere, said regional integration was important for the development of the region.
“The change of mantra on what we can focus on as a region is very crucial. If we industrialise thousands of jobs will be created and we will improve the lives of our people,” he said.
Industrialisation, RISDP checklist
Southern Africa’s industrialisation and the final revision of the Regional Indicative Strategic Development Plan (RISDP) are broad strategies geared towards improving the lives of the region’s citizens.
The twin strategies have the following targets:
Identifying regional integration and industrialisation as a driver of economic and technological transformation for economic prosperity and poverty alleviation.
2015-2020 — Regional economic growth per capita of 6 percent.
2021-2050 —Regional growth per capita of 8 percent and diversification of production and improvement of sector competitiveness.
2051- 2060 – Regional growth per capita of 5 percent. Further transformation based on high level of innovation.
Formation of a Free Trade Area to support inter-regional trade.
Establishment of a Customs Union with common external tariffs for the Free Trade Area.
Attain Monetary Union through macro-economic convergence.
Achieve a common market by agreeing on production regulation policies.
