Business Reporter
The Southern African Development Community (SADC) and the African Export-Import Bank (Afreximbank) have reaffirmed their commitment to deepening regional integration, accelerating industrialisation and expanding intra-African trade, following high-level talks held on the margins of the 2026 Annual Meetings of the International Monetary Fund and the World Bank Group.
The meeting, held on 12 October, brought together His Excellency Mr Elias M. Magosi, SADC Executive Secretary, and Ms Kanayo Awani, Executive Vice President for Intra-African Trade and Export Development at Afreximbank. Discussions centred on a proposed partnership to mobilise financial and technical resources, dismantle trade barriers and drive the region’s industrial and economic transformation.
Mr Magosi welcomed progress on a Memorandum of Understanding between the two institutions and praised Afreximbank for its collaboration. He said industrialisation lay at the heart of SADC’s development agenda, stressing the need to strengthen regional value chains, promote skills development and accelerate the beneficiation of critical minerals.
He underscored the importance of moving beyond raw material exports towards local processing and value addition, arguing that this would create employment and maximise the economic benefits of the region’s natural resources.
Ms Awani highlighted the opportunities that regional integration presents for industrial development and expanded intra-African trade. She set out Afreximbank’s role in providing trade finance, advisory services and other financial instruments to support businesses, facilitate exports and improve access to financial opportunities through digital solutions.
The talks explored cooperation in strategic industrial programmes, rail interconnectivity, automotive development and implementation of the African Continental Free Trade Area. The automotive sector was identified as a potential driver of industrialisation, with scope to strengthen manufacturing, deepen regional value chains and attract investment. Delegates also pointed to platforms such as the Automotive Forum and trade missions as means of connecting businesses with markets, investors and financing.
On trade facilitation, participants emphasised the need to remove non-tariff barriers, harmonise policies and procedures, and improve cross-border trade through initiatives such as One-Stop Border Posts. They also stressed the importance of strategic investment in transport and logistics corridors, energy infrastructure, digital connectivity and interconnected electricity grids to reduce trade costs and sharpen regional competitiveness.
Further areas of cooperation included promoting trade in agricultural inputs, particularly fertilisers, to bolster agricultural productivity and food security, as well as developing regional value chains in pharmaceuticals and critical minerals. The discussions also examined opportunities for Afreximbank to support the preparation and financing of bankable regional infrastructure and industrialisation projects, complementing existing SADC initiatives such as the Project Preparation and Development Facility.
Both institutions emphasised the importance of identifying practical flagship initiatives capable of delivering tangible results in infrastructure, industrialisation, trade facilitation and value addition, in line with the SADC Regional Indicative Strategic Development Plan 2020–2030 and SADC Vision 2050.
Established in 1993 and headquartered in Cairo, Egypt, Afreximbank is a Pan-African multilateral financial institution mandated to promote, finance and facilitate trade within Africa and between Africa and the rest of the world.
The meeting reaffirmed the shared commitment of SADC and Afreximbank to strengthening regional integration, expanding trade and mobilising investment to drive sustainable economic growth and industrial transformation across Southern Africa.
Mr Magosi was accompanied by Dr Mike Masiye, SADC Director for Policy, Planning and Resource Mobilisation; Mr Thokozani Mlotsa, Programme Officer for Resource Mobilisation; and Mr Hamilton Thomas, Programme Officer for Capital Market. Ms Awani was accompanied by Mr Haytham El Maayergi, Executive Vice President for Global Trade Bank at Afreximbank, and Mr Peter Adeshola Olowonomi, Director for Regional Operations for Southern Africa. Other officials from both institutions also attended.
