Ashly DhaniBusiness Writer
African countries should leverage on the youth potential in the region for innovation, industrialisation, peace and socio – economic growth, the 44th Ordinary of Southern African Development Community (SADC) Summit of Heads State and Government heard.
The summit, held in Harare over the last weekend was held under the theme “Promoting Innovation to unlock opportunities for sustained economic growth and development towards an industrialised SADC.”
In his acceptance speech as the incoming SADC chairman, President Mnangagwa emphasised the need for southern African countries to harness innovation potential to maximise value from their natural resources to accelerate development.
“We must ensure that youth and entrepreneurs including women embrace technology and innovation revolution for development,” said President Mnangagwa.
He stressed the importance of developing innovative strategies across sectors to stay ahead of the fourth industrial revolution and build sustainable prosperity.
“Unity and solidarity among Southern African countries is crucial for achieving these goals,” he said adding that countries should implement initiatives under innovation hub programmes to transform livelihoods and economies.
Emphasising the importance of the region’s collective action, President Mnangagwa said there was need for adaptive measures to address the impacts of climate change.
Addressing the summit, Claver Gatete, the executive secretary of the Economic Commission for Africa (ECA), said that SADC could lead Africa in home grown solutions in domestic resource mobilisation and innovative financing to fight climate impacts and sustain development.
This comes against Africa’s financial and climate challenges, including the sovereign debt in Africa which stands over US$1 trillion, causing severe fiscal stress, with more than one in three countries in or at high risk of debt distress.
Touching on the immense opportunities in the region, he said that SADC was home to most of the world’s gold, copper, cobalt, lithium, chromium, graphite, platinum and possesses significant livestock and agricultural endowments and if it scaled up regional value chains in energy, agriculture and critical minerals, the region could reap the benefits of sustainable industrialisation, achieve food security, increase jobs and skills to reduce poverty and inequalities.
“There is no reason why Africa should import food to the tune of US$120 billion per year when SADC can be Africa’s breadbasket,” he said.
The region, he said “offers enormous potential to increase the export markets within the beef and leather value chains and in the realm of renewable resources, SADC can be a continental energy provider with the development of this value chain as it is using only one per cent of its solar and wind energy potential.”
He underscored the centrality of rapid industrialisation as “not simply a question of convenience – it is a matter of absolute necessity.” This includes leveraging technology and innovation for sustainable industrialization, underpinned by regional cooperation and partnerships to unlock economic growth opportunities in SADC.
“We have no choice but to look inward for homegrown solutions including domestic resource mobilization and innovative financing for climate to sustain our development.”
“Each SADC country can be a cluster leader of innovation and breakthroughs and ECA stands ready to partner with you on this journey,” said the Executive Secretary.
For his part, João Lourenço, President of Angola, and outgoing SADC chairman highlighted progress made by the region in various sectors including in energy, transport and water resources and internet coverage.
The SADC region he said, now has 86 percent mobile network coverage and 54 percent internet access, which means that half of the region’s population has access to information and communication.
“I urge member states to continue investing in energy infrastructure to increase production, transmission and diversification of energy sources and adopt sustainable practices to promote economic development,” he said.
Additionally, Louenco noted the efforts by member states to simplify and facilitate regional movement of people and goods with the introduction of visa exemption by some countries and abolishment of visas by others and creation on one stop border posts in order to simplify and facilitate the movement of people.
He also mentioned the ongoing efforts to maintain peace and security in the region.
As the new President in the region Nangolo Mbumba, Namibia President stressed that peace, security and governance must be prioritised to achieve the innovation and economic growth goals that are crucial for the region.
He acknowledged that the region faces a number of challenges especially in the area of peace and security but stressed the need for countries to continue to work together to build a prosperous future for all the SADC citizens.
Elias Magosi, SADC executive secretary, highlighted the low level of intra-regional trade within the region, primarily due to non-tariff barriers and emphasized the need to rededicate the collective efforts to reduce these barriers and promote cooperation.
He emphasised the potential of the region’s youth population, highlighting the need to benefit from the demographic dividend through opportunities for economic growth and development found in new technologies and innovation.
Bongani Ndlovu