SADC, BASEA to hold investment forum for priority projects
The Southern African Development Community (SADC) and the Arab Bank for Economic Development in Africa (BADEA) will on Wednesday hold an investment forum in the capital aimed at showcasing regional priority projects and potential financing solutions.
The meeting comes barely two weeks after Afreximbank senior executive Vice President, Denys Denya, made startling revelations during the SADC that Industrialization Week Investment that some companies including those in Zimbabwe were presenting poorly prepared projects seeking funding from the bank.
In a statement, the SADC secretariat said the investment forum, slated for August 14 at the Harare International Conference Centre (HICC), will be held on the margins of the SADC Council of Ministers and the 44th SADC Summit of Heads of State and Government.
It said the forum will bring together representatives of governments, the private sector, and development financing institutions to deliberate on issues of common interest and establish solutions towards sustainable financing, regional integration, sustainable development and poverty reduction.
The forum will also commemorate the 50th anniversary of BADEA’s continued commitment towards the development of Africa, through sustainable financing solutions for regional integration and infrastructure development.
“In addition, the investment forum will provide a platform to reinforce the relations between SADC and BADEA, facilitate information exchange on available technical assistance for the development of projects to bankable stages, and enable SADC to showcase prioritised regional infrastructure projects to potential investors and financing organisations,” the SADC secretariat said.
It said it is in the process of mobilising resources for implementing and monitoring prioritized regional projects covering strategic areas in the Regional Indicative Strategic Development Plan (RISDP) 2020-2030, which is based on a firm foundation of Peace, Security and Democratic Governance.
The strategic plan is also premised on pillars such as Industrial Development and Market Integration, Infrastructure Development in Support of Regional Integration, Social and Human Capital Development, as well as crosscutting issues, including Gender, Youth, Environment, Climate Change, and Disaster Risk Management.
“The SADC Secretariat will present prioritised projects, while BADEA and partners from the private sector will outline the available financial services and products which could be exploited to support the development of the identified projects,” it said.
The Investment Forum will conclude with an exhibition and business consultation session, which is aimed at serving as a vehicle for networking, cooperation, and collaboration in the development of the regional infrastructure projects.
BADEA is a multilateral development financial institution owned by 18 Arab countries.
The Bank was founded in 1974 with the purpose of fostering, supporting and enhancing economic, financial and technical cooperation between Arab and African countries. – New Ziana
