2024 Sadc Industrialisation Week — A platform for regional growth, collaboration

The 2024 SADC Industrialisation Week, held from July 29 to August 2, 2024, in Harare, Zimbabwe, marked a pivotal moment in the region’s journey toward industrialisation. This event, now in its 7th edition, was a significant gathering of minds, hosted by the Republic of Zimbabwe through the Ministry of Industry and Commerce in collaboration with the SADC Secretariat and the SADC Business Council. The event took place at the Harare International Conference Centre (HICC) under the theme, “Promoting Innovation to Unlock Opportunities for Sustainable Economic Growth and Development Towards an Industrialised SADC”.

Amidst this prominent event, the Zimbabwe National Chamber of Commerce (ZNCC) organised a strategic breakfast meeting at the Hyatt Regency Hotel in Harare. The meeting, held on the sidelines of the SADC Industrialisation Week, brought together a diverse array of stakeholders, including representatives from chambers of commerce and industry across the SADC region, private sector players, policymakers, regional and global financiers, customs and revenue authorities, academic institutions and the media.

The gathering provided a unique platform for insightful discussions on industrialisation, innovation and sustainable economic growth within the SADC region, laying the groundwork for a more integrated and resilient economic future.

As the day began, Tamuka Macheka, the director of ceremonies, welcomed the esteemed delegates, underscoring the importance of the platform provided by the breakfast meeting.

He emphasised that the event’s theme; “Promoting Innovation to Unlock Opportunities for Sustainable Economic Growth and Development Towards an Industrialised SADC,” was in perfect alignment with the ZNCC’s 2024 theme, “Unlocking New Frontiers for Sustainable Industrialisation and Climate Smart Business Growth.” This synergy underscored the collective commitment to fostering a resilient and industrialised SADC region capable of meeting the challenges of the modern global economy. Macheka introduced the dignitaries present, including the Guest of Honour, Nqobizitha Ndhlovu, Minister of Industry and Commerce; Ambassador Frederick M. M. Shava, the Minister of Foreign Affairs and International Trade; the Dean of SADC Ambassadors to Zimbabwe and Angolan Ambassador to Zimbabwe, H. E. Agostinho Tavares; and the Presidents and CEOs of regional chambers of commerce and industry, among others.

ZNCC CEO, Commissioner Christopher T. Mugaga, in his address, highlighted the significance of the business breakfast meeting as a crucial platform for advancing the regional economic agenda.

He expressed his honour in leading this forum and pointed to the key areas of focus: readiness for the African Continental Free Trade Area (AfCFTA), the pressing need to improve logistics infrastructure and the critical importance of adopting sustainable energy solutions.

Mugaga stressed the importance of effective regional integration, particularly in energy generation and cross-border trade efficiency. His remarks underscored the private sector’s commitment to driving industrialisation and fostering economic growth throughout the SADC region.

Following Commissioner Mugaga’s remarks, Tapiwa D. Karoro, president of the ZNCC, delivered a compelling welcome address, echoing the sentiments of his colleagues.

He emphasised the theme of the SADC Industrialisation Week as a call to action for the region to embrace innovation and sustainable practices as drivers of economic progress. Karoro acknowledged the strategic importance of the meeting, which provided a platform for regional chambers of commerce and industry to address key issues, share best practices and forge collaborative opportunities. He also highlighted the need for infrastructure development and regional cooperation, particularly in improving intra-SADC trade and projects like the Botswana-Zimbabwe-Mozambique Railway.

The event saw a series of solidarity messages, beginning with Imanga Kuyama, president of the Western Province of the Zambia Chamber of Commerce and Industry. Kuyama delivered a heartfelt message, expressing the shared identity and unity of people across the SADC region.

She emphasised the importance of the event’s theme, recognising it as a pivotal solution to the challenges faced by the region, particularly climate change. Kuyama argued that by cultivating entrepreneurship, the region could empower innovation and transformation, paving the way for sustainable economic growth and development.

Teddy Soobramanien, CEO of the COMESA Business Council (CBC), also delivered a message of solidarity, emphasising the critical role of industrialisation and the internationalisation of regional enterprises.

Soobramanien highlighted the importance of innovation as the cornerstone of industrialisation and stressed the necessity of a skilled workforce to drive these innovations.

He also underscored the importance of investing in the circular economy as a strategic approach to tackling climate change. By strengthening value chains through regional collaboration, Soobramanien noted that the COMESA region could enhance its competitiveness and resilience.

A key highlight of the meeting was the address by Minister Shava, who emphasised the pivotal role of innovation and industrialisation in fostering sustainable economic growth within the SADC region.

Dr Shava highlighted the objectives of the SADC Industrialisation Week, which included disseminating information on the SADC Industrialisation Strategy and Roadmap, commemorating Africa Industrialisation Day, and engaging with development partners to promote the strategy at both national and regional levels.

Minister Ndlovu, further emphasised the crucial role of innovation in driving sustainable economic growth and industrial development within the SADC region. Minister Ndlovu commended the ZNCC for organising the event and extended a warm welcome to the esteemed guests from across the SADC region.

He underscored the transformative power of innovation, citing it as the lifeblood of industrialisation and a key driver of competitiveness and opportunity.

Ndlovu called for increased investment in research and development, support for emerging tech industries and the nurturing of a culture of creativity and entrepreneurship. He also stressed the importance of creating an enabling environment that attracts investment, promotes commerce and simplifies regulatory frameworks.

The plenary session that followed saw diverse and insightful contributions from various participants. Discussions touched on critical areas for fostering regional industrialisation and economic growth within the SADC.

The Consumer Protection Commission stressed the urgent need to tackle counterfeit goods through collaboration with the ZNCC, aiming to protect consumers and enhance trust in the market.

Property developers enquired about ongoing developments and potential partnerships with SADC to drive sustainable urbanisation, aligning infrastructure projects with regional industrial goals. The Reserve Bank of Zimbabwe underscored efforts to create a stable banking environment, promoting the local currency’s use and encouraging support for upcoming monetary policies.

The panel discussion on the private sector’s role in promoting industrialisation and internationalisation of regional enterprises, moderated by Ms Mona-Lisa Dube, further enriched the discussions. The panel featured prominent business leaders and experts, including Adv Mthokozisi Xulu, President of the South Africa Chamber of Commerce and Industry; Mr Danny Meyer, ZNCC Past President and SME Competitiveness Consultant; Dr Obert J. Z. Sibanda, ZNCC Past President; Dr Joseph Kanyekanye, CZI Past President; Eng Vicente Soares, President of the Angola Chamber of Commerce and Industry; and Mr. Tinashe Muyambo, CEO of Masawara Financial Services.

Danny Meyer began the discussion by advocating for the expansion of the industrial base within individual countries while simultaneously producing for regional and continental markets.

He emphasised the importance of import substitution as a means of fostering self-reliance and boosting local economies. Meyer’s philosophy centred on identifying and capitalising on local resources to build a robust industrial sector capable of competing on a larger scale.

Adv Mthokozisi Xulu highlighted the importance of regional integration and collaboration, emphasising that SADC countries should work together to create a unified market that can compete globally.

He stressed the need for policies that promote ease of doing business across borders and the removal of barriers that hinder trade and investment within the region. Xulu also called for a concerted effort to address infrastructure deficits, particularly in transport and energy, to facilitate smoother intra-regional trade and enhance industrial growth.

Dr Obert J. Z. Sibanda focused on the importance of innovation in driving industrialisation, arguing that the region must invest in research and development to create products and services that can compete globally. He also highlighted the need for a skilled workforce, capable of driving the innovations required to transform the SADC region into a hub of industrial activity. Dr Sibanda called for partnerships between academia, industry, and government to create centers of excellence that would foster innovation and drive economic growth.

Dr Joseph Kanyekanye discussed the role of financial institutions in supporting industrialisation, emphasising the need for tailored financial products that cater to the unique needs of the manufacturing and industrial sectors. He argued that banks and other financial institutions should develop long-term financing solutions that enable businesses to invest in capital-intensive industries and expand their operations.

Dr Kanyekanye reflected on the decline of Zimbabwe’s industrial sector since the early decades of independence, when the country had a more inclusive business model that supported SMEs. He argued that the general decline of industry needs to be arrested, and that there should be a focus on revitalising the formal sector while addressing the challenges of informality, which often results from businesses trying to escape regulatory burdens.

Eng Vicente Soares emphasised the importance of clear and effective policy implementation within the region. He referred to the SADC Industrialisation Strategy and Roadmap as a solid framework but lamented the slow progress in its execution. Soares also highlighted the need for improved regional connectivity, particularly in the railway sector, to facilitate the movement of goods across borders. He shared insights from Angola’s efforts to formalise its economy through a programme supported by the International Labour Organisation (ILO), aimed at broadening the revenue base and ensuring compliance with the law.

The 2024 SADC Industrialisation Week business breakfast meeting provided valuable insights into the challenges and opportunities facing the region as it seeks to industrialise and integrate economically. Several key action points emerged from the discussions:

Support for SMEs: There is a critical need to develop incubators, innovation hubs, and access to finance for SMEs to enable them to contribute effectively to the region’s industrialisation efforts. Governments and large corporations should collaborate to provide incentives and support for SMEs to engage in both domestic and international trade.

Policy Implementation: SADC member states must prioritise the implementation of the SADC Industrialisation Strategy and Roadmap. This requires a clear commitment from governments to create an enabling environment that supports industrial growth, including improving infrastructure, reducing regulatory burdens, and enhancing regional connectivity.

Private Sector Capacitation: Governments need to increase budgetary allocations to ministries overseeing industry and commerce to better support the private sector. Access to finance, infrastructure development, and streamlined regulatory processes are essential to capacitate businesses and enable them to compete on a regional and global scale.

Public-Private Partnerships: The development of public-private partnerships is crucial for driving industrialisation in the region. Such collaborations can provide the necessary resources, expertise, and innovation to overcome challenges and capitalise on opportunities for growth.

Regional Connectivity: Investments in regional infrastructure, particularly in the energy and transport sectors, are essential to support the movement of goods and services across borders. Enhanced connectivity will reduce production costs, facilitate trade, and boost the competitiveness of regional enterprises.

National Currency Stability: The stability of national currencies is vital for economic independence and growth. SADC member states should work together to support each other’s currencies and consider regional strategies that promote monetary stability.

The 2024 SADC Industrialisation Week Business Breakfast Meeting was a resounding success, providing a platform for meaningful dialogue and collaboration among regional stakeholders. The event reinforced the importance of innovation, policy implementation, and private sector involvement in driving industrial growth and regional integration.

This article was prepared by the ZNCC for Business Weekly