MARGARET CHISANGA
Lusaka
THE United Nations Economic Commission for Africa (ECA) has called on the Southern African Development Community (SADC) member states to accelerate the transformation of the region’s vast mineral and agricultural wealth into industrial production and regional value chains.
Addressing Heads of State and Government at the 46th Ordinary SADC Summit today, ECA Executive Secretary Claver Gatete delivered an assessment of Africa’s position in the global economy.
He highlighted the extraordinary endowment of Southern Africa, rich deposits of platinum, lithium, diamonds, manganese, cobalt and copper, alongside fertile land, manufacturing capacity, financial markets and transport corridors linking the Indian and Atlantic Oceans.
Mr Gatete further outlined six priorities for the region to advance industrialisation:
- Mobilize financing and partnerships at scale. Governments must lead but cannot finance this transformation alone. Development finance institutions, sovereign wealth funds, pension funds and the private sector must prepare bankable regional projects in energy, transport, industrial parks and agro-industrial development.
- Accelerate mineral beneficiation and regional critical mineral value chains. The objective must be integrated regional industries spanning extraction, refining, precursor materials, component manufacturing and finished products.
- Transform agriculture into an engine of industrialisation. Investment in seed systems, mechanization, irrigation, storage, food processing, cold chains and export infrastructure can reduce food import dependence, create jobs and strengthen climate resilience.
- Make fertilizer and agricultural input security a strategic regional priority. Southern Africa has natural gas resources, phosphate reserves and markets to develop regional fertilizer value chains that lower costs for farmers while creating industrial capabilities.
- Strengthen regional value chains through the African Continental Free Trade Area, which provides the framework to combine mineral, energy and manufacturing advantages by reducing trade barriers and facilitating cross-border investment.
- Accelerate investment in energy and enabling infrastructure. Industrialisation cannot flourish without reliable, affordable and sustainable energy, efficient transport networks and modern digital connectivity.
