Wallace Ruzvidzo
Herald Reporter
SADC wants accelerated development of value chains of critical regional minerals to drive industrialisation, create jobs and retain more value within the region as the global energy transition presents new opportunities for economic growth.
In a communiqué yesterday, SADC said governments, investors and industry leaders should accelerate the development of these value chains for regional critical minerals, with increased investment required in beneficiation, mineral processing, battery value chains and downstream industries.
The communiqué followed remarks by SADC Executive Secretary Mr Elias Magosi during the SADC Business Council Webinar Series 3 held yesterday, where he said Southern Africa had a unique opportunity to move beyond the export of raw minerals and build competitive regional industries.
The regional bloc said the mining sector contributed more than 10 percent of SADC’s gross domestic product, 25 percent of exports and around 20 percent of Government revenues, underscoring its importance to the regional economy.
Mr Magosi said no SADC state could develop competitive mineral value chains alone, with stronger collaboration needed among governments, industry, financiers and development partners.
“The time to build competitive regional mineral value chains and expand mineral wealth for our region is now.”
The SADC Executive Secretary highlighted ongoing regional efforts, including the identification of 20 investment projects in energy storage, copper and mining-input value chains aimed at promoting value addition and industrial growth.
He urged stronger collaboration between governments, industry, financiers and development partners to address infrastructure, energy, skills and financing challenges that continue to constrain industrial development.
The webinar brought together policymakers, mining industry leaders, investors and development partners to explore practical strategies for transforming SADC’s mineral wealth into sustainable industrial growth and shared prosperity,” said the regional bloc.
Meanwhile, the International Conference on Disaster Risk Reduction and Resilience in Africa officially opened yesterday in Maputo, Mozambique.
SADC Deputy Executive Secretary for Corporate Affairs Dr Judith Kateera is leading the regional body’s delegation which includes officials from the SADC Humanitarian and Emergency Operations Centre.
The theme of the conference is: “Scaling proactive governance and strategic investment for disaster risk reduction and a resilient Africa”.
