Chronicle Editor
Richard Muponde, Zimpapers Politics Hub
THE upcoming Sadc Summit and Industrialisation Week presents significant opportunities for the Zimbabwean industry to enhance its index rating and showcase what the country has on offer.
The seventh annual Sadc Industrialisation Week will run from 28 July to 2 August under the theme: “Promoting innovation to unlock opportunities for sustainable economic growth and development towards an Industrialised Sadc.”
Zimbabwe has played a crucial part in Sadc’s industrialisation.
The Sadc Industrialisation Strategy and Roadmap was adopted in April 2015, when the country chaired the regional bloc.
This was a historic milestone that rallied the region to prioritise value addition and beneficiation of primary products.
In April 2015, the then-Sadc Executive Secretary, Dr Stergomena Tax (now Tanzania’s Defence and National Service Minister), underscored the fundamental role that Zimbabwe played in championing the region’s industrialisation drive.
“When Zimbabwe took over, we started with the theme ‘Value Addition and Beneficiation’ and from this theme, Heads of State agreed that Sadc should prepare an industrialisation strategy. And under the able leadership of Zimbabwe — not only the leadership, but the commitment as well — we achieved our mandate. That is really a big achievement,” she said.
Dr Tax said as the then-Sadc chair, Zimbabwe had committed its entire machinery to come up with the transformative Industrialisation Strategy and Roadmap (2015-2063).
According to a recent KPMG survey, Zimbabwe is rated 10 out of 50 African countries to look for in terms of investment opportunities.
By leveraging events like the Sadc Summit, Zimbabwe can take steps to improve its economic standing and attract investment.
The summit and Industrialisation Week provide a platform for the country to demonstrate its commitment to regional co-operation and economic development.
By actively participating in discussions and initiatives aimed at enhancing industrialisation, Zimbabwe can showcase its potential for growth and development within the region.
This pro-active engagement can contribute to a positive perception of Zimbabwe’s economic prospects, potentially leading to an improvement in its index rating.
One low-hanging fruit for Zimbabwean industry during the summit could be to focus on highlighting its existing industrial capabilities and potential for growth.
This can be done by emphasising specific sectors where Zimbabwe has a comparative advantage, such as agriculture, mining and tourism.
Through this, the country can attract attention and investment from regional and international partners. Additionally, prioritising discussions around infrastructure development and trade facilitation can present immediate opportunities for enhancing the country’s industrial landscape.
Zimbabwean economist, Dr Prosper Chitambara said the Sadc Summit is a very important platform and occasion where there will be a hive of activity.
He said it presents several business opportunities such as the public private sector engagement and collaborations, which are critical as the country expedites the implementation of the Sadc industrialisation strategy and roadmap.
“The summit will highlight the role of the private sector, the role of public sector and bring these two together, especially given some of the constraints, both technically and even in terms of financing that is there in the region, in terms of our ambitions to industrialise as the Sadc region.
“It is obviously providing an opportunity for greater intra Sadc trade and even investments.
“And I think one area that is also important is to leverage the development of this sub-regional or cross border value chains within the industrial sector. I think it is an area we have not fully harnessed. I think there is a lot of potential for industrialisation through harnessing of these cross border value chains.”
The Sadc Summit provides an excellent opportunity for Zimbabwe to market its offerings to a diverse audience.
By highlighting its natural resources, skilled labour force, and investment-friendly policies, Zimbabwe can position itself as an attractive destination for business and investment.
Moreover, the country can use this platform to promote its unique cultural heritage and tourism potential, further enhancing its appeal to potential investors and partners.
The summit and Sadc Industrialisation Week offer the Zimbabwean industry a valuable opportunity to strengthen its position within the region, attract investment and improve its index rating.
By actively participating in these events and strategically showcasing its strengths, Zimbabwe can pave the way for sustainable economic growth and development.
The Sadc Industrialisation week is an annual platform for Sadc member States, the private sector, international partners, policymakers, researchers, small and medium enterprises, financial institutions and civil society to share experiences on driving industrialisation and economic transformation in the region
Bongani Ndlovu
Online Reporter