Regional prosperity drive gaining momentum

ON Saturday next week, President Mnangagwa will take over the chairmanship of the Southern African Development Community (SADC) and be charged with steering the agenda of the regional bloc as it seeks to modernise and industrialise.

The President will naturally be familiar with this task as he has been driving the same agenda in Zimbabwe for the past five years, and with a remarkable measure of success.

The successful hosting of the 7th Annual SADC Industrialisation Week (SIW) last week demonstrated the country’s determination to push this agenda in the region.

The collaboration between the Government of Zimbabwe and the private sector set a new minimum standard for hosting future SIW events.

SIW 2024 was jointly organised by the Government of Zimbabwe, the SADC Secretariat, the SADC Business Council and the Confederation of Zimbabwe Industries, and ran under the theme “Promoting Innovation to Unlock Opportunities for Sustainable Economic Growth and Development towards an Industrialised SADC”.

It attracted more than 3 500 participants from the region and beyond.

A precursor to the 44th SADC Heads of State and Government Summit, the SIW, as expected, presented new opportunities for intra-African trade and investment in the region.

But the industrialisation of SADC cannot be successful without regional integration, as well as a deliberate effort to leverage on domestic resources, skills and capacities.

President Mnangagwa acknowledged this fact when he officially opened the SIW on Wednesday.

“Given the scale of finances needed to ensure the success of our regional industrialisation agenda and what we control, this being the use of our domestic resources to propel our industrialisation and development agenda, the weighty obligation to build, develop and industrialise our economies lies with us, the people of this region, SADC, and the continent,” he said.

Zimbabwe is already playing a huge role in the industrialisation of the region.

Just a week before the SIW, the newly established Dinson Iron and Steel Company in Manhize announced that it could produce enough steel — a critical raw material in construction — to meet demand from the region.

Similarly, last week, the ministers of transport from Zimbabwe, Mozambique and Botswana were meeting in Harare to discuss trilateral collaboration in upgrading the existing railway line within the framework of the US$6,5 billion Techobanine Deep Water Port and Railway Line
Project.

The initiative has the potential to unlock opportunities that will transform trade infrastructure within Southern Africa and improve transport and logistics efficiencies.

Further, the ongoing work to rehabilitate the Beitbridge-Harare-Chirundu highway, a key route in the North-South Corridor, will naturally immensely benefit trade and the movement of people in the region.

Encouragingly, the outcome of SIW 2024 indicates that the drive towards regional integration will continue gaining momentum.

One of the key achievements was the signing of a regional agreement on industrial cooperation aimed at promoting trade and investment among SADC member states.

This agreement set the stage for increased collaboration in key sectors such as manufacturing, agriculture and technology, focusing on creating sustainable value chains and boosting regional competitiveness.

Furthermore, the SIW served as a platform for highlighting innovative technologies and solutions for industrial development, with exhibitors from across the region showcasing their products and services.

The exhibition provided valuable networking opportunities for businesses and investors, fostering partnerships and collaborations vital for industrial growth in Southern Africa.

Additionally, workshops and capacity-building sessions conducted during the event equipped participants with the knowledge and tools needed to overcome challenges and maximise opportunities in the industrial sector.

While the SIW was a huge success in many aspects, regional leaders have to address potential pitfalls and challenges to industrialisation.

The lack of adequate infrastructure and logistical support, which hampers the smooth flow of goods and services across borders, is one such challenge.

Brain drain and lack of enough skilled labour, among other workforce-related challenges in key sectors such as manufacturing and technology, also need to be addressed.

Investing in education and training programmes that equip the youth with relevant skills and knowledge is crucial for building a sustainable industrial workforce that can drive innovation and productivity.

Moreover, addressing issues such as regulatory barriers and limited access to financing is essential for creating an enabling environment for businesses to thrive and expand.

Through the Annual SADC Industrialisation Week Harare Declaration, the region has a clear vision of what needs to be done on industrialisation in the coming year.

Overall, the SIW 2024 successfully paved the way for such future developments in industrialisation and economic growth in the SADC region by identifying opportunities, addressing challenges and fostering partnerships.

Over the next year, we can only expect the drive towards industrialisation to gain momentum in the region.