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SADC Business Council Spearheads Southern African Industrialisation Forum to Drive Regional Development

The Southern African Development Community (SADC) Business Council (SADC BC) recently convened the First Southern African Industrialisation Forum from February 26th to 27th, 2024, in Johannesburg, Republic of South Africa.

As the regional apex body for the SADC private sector, the SADC BC serves as a pivotal partner in advancing the SADC development and integration agenda.

The forum, attended by top government and business leaders, provided a platform for robust discussions on industrial priorities and investment opportunities within the Southern African region.

In her opening remarks, SADC Deputy Executive Secretary for Regional Integration, Ms. Angele Makombo N’Tumba, commended the SADC Business Council for organizing the event, emphasizing its alignment with the SADC regional industrialization and development agenda outlined in the SADC Vision 2050 and the Regional Indicative Strategic Development Plan (RISDP) 2020-2030.

Mr. Ousmane Fall, Director of Non-Sovereign Operations and Private Sector at the African Development Bank, reiterated the bank’s commitment to supporting regional industrialization efforts and aiding member states in recovering from recent economic shocks.

He highlighted the bank’s significant investments in industrial development, totaling USD 10.3 billion under the Industrialize Africa High 5 priority from 2016-2020.

Additionally, he outlined the bank’s regional integration strategy for Southern Africa, focusing on infrastructure connectivity, market integration, and industrialization.

Throughout the two-day event, attendees engaged in discussions on critical topics such as human capital development, trade and investment facilitation, infrastructure development, and key sectors including automotive, pharmaceuticals, tourism, renewable energy, and transport and logistics.

The forum provided a valuable opportunity for stakeholders to strategize and collaborate on advancing industrialization initiatives and unlocking the region’s economic potential.

Additional Source: SADC Secretariat

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