Cyril Ramaphosa, President of South Africa, outlined that during South Africa’s tenure as Southern African Development Community (SADC) chair, US$500mn was secured of committed productive investments by South African companies in each of the priority value chains across the region
The investments cover forestry, agriculture and agro-processing, fertiliser, mining and mineral processing and pharmaceuticals.
“We, therefore, need to ensure that we create a conducive environment for business to thrive and to deepen our engagement with the private sector. Collaboration with the private sector is important not only in designing SADC regional strategies and initiatives but also in identifying impediments to greater regional economic integration,” Ramaphosa said.
He said this during the 38th Ordinary Summit of the heads of state and government of the SADC, which took place from 17-18 August 2018 in Windhoek, Namibia under the theme “Promoting Infrastructure and Youth Empowerment for Sustainable Development.”
The Summit marked the 26th anniversary of the adoption of the SADC Treaty, which was signed on 17 August 1992, and laid the foundation for the formation of SADC.
Ramaphosa further added that he was encouraged by strides taken to maintain peace and stability in the SADC region including the holding of regular, free and fair elections. He noted, “The consolidation of democracy and the elevation of the rule of law across the region is a sign of the improved effectiveness of our regional institutions and mechanisms.”
