SADC heads meet

GOVERNMENT

|
Image: By BiztechAfrica
SADC heads meet

SADC Heads of State met in Maputo this weekend to review regional integration and investment, among other matters.

During the meeting, the Summit elected Armando Emilio Guebuza, the President of the Republic of Mozambique and  President Joyce Banda of  the Republic of Malawi as Chairperson and Deputy Chairperson of SADC, respectively. The Summit also elected Jakaya Mrisho Kikwete, President of the United Republic of Tanzania and H.E. President Hifikepunye Pohamba of the Republic Namibia as Chairperson and Deputy Chairperson of the SADC Organ on Politics, Defence and Security Cooperation, respectively.

President Guebuza indicated that  his chairpersonship would, amongst others, focus on the Development Corridors as Vehicles for SADC Regional Integration that need to be harnessed due to the role they play in consolidating social dimensions of development and the regional integration process.

The Heads of State focused on peace initiatives in the SADC region, as well as the need to deepen regional integration, improving the economic situation and the alleviation of poverty.

Speaking at the Summit, Donald Kaberuka, President of the African Development Bank (AfDB), said there were liquidity challenges at the global level, arising from the  Eurozone crisis, and challenged member states to mobilise resources for investment  in  projects for Africa and particularly for the SADC Region.

The Summit noted that the economic performance of the  region was characterized by a slow economic growth as shown by a decline in real GDP from 5.5% in 2010 to 4.7%, in 2011 and a stagnant level of average inflation at 8.3%.  This trend was largely influenced by developments in the global markets especially in the Eurozone.

The Summit also reviewed progress in  the implementation of the regional economic integration agenda; and received a report on the framework of the SADC Customs Union from the Ministerial Task Force on Regional Economic Integration outlining key elements for the Customs Union, in particular the parameters, benchmarks and a model Customs Union for SADC including the sequencing of activities. The Heads of State noted progress made towards the establishment of the Tripartite Free Trade Area, especially preparatory work to facilitate negotiations under the chairpersonship of the SADC Region.

The Summit also noted progress made towards the operationalization of the SADC Regional Development Fund, a financial mechanism intended to mobilise resources from member states, private sector and development partners to finance programmes and projects for regional development and deeper integration. The Summit noted areas of agreement reached in the various aspects of the Fund, including the windows of the Fund with the infrastructure and industrial development windows as top priorities and a subscribed capital of USD1.2 billion to be raised as seed capital.  



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE GOVERNMENT NEWS

Safaricom dominance under discussion in Parliament

A bill aimed at levelling Kenya’s telecommunications sector by declaring leading operator, Safaricom, as dominant in the industry, is now in Kenya’s parliament. Read More

KRA marks 2 millionth iTax registration

The Kenya Revenue Authority (KRA), has sealed a major milestone in its organisational transformation journey, with the registration of its 2millionth iTax client. Read More

CBN extends BVN enrolment

The Central Bank of Nigeria has extended the timeline for the enrolment for the national Bank Verification Number (BVN).   Read More

NITA gets a new boss

Ghana’s President John Dramani Mahama has appointed a 35 year old computer scientist, George Atta-Boateng, as Acting Director General of the National Information and Technology Agency. Read More

Nigeria BVN deadline looms

Bank customers in Nigeria are reported to be rushing to register for their biometric banking ID as the deadline for the BVNs looms. Read More

Young entrepreneurs in Rwanda told to be more creative

The latest YouthKonnekt Hangout hosted by Rwanda’s Ministry of Youth and ICT (MYICT) in partnership with UNDP, ADMA, Tigo, and HeHe Labs, has urged young entrepreneurs to be innovative. Read More

Jumia gets visit from Côte d’Ivoire Minister

Côte d’Ivoire’s Minister of Post and Information and Communication Technology, Bruno Kone, has paid a visit to the offices of e-commerce firm Jumia. Read More

African heads of state to participate in TGAIS

Five heads of state have already confirmed their participation in the 2015 Global African Investment Summit.  Read More

Francis Wangusi reappointed CAK DG

The Board of the Communications Authority of Kenya has announced the appointment of Francis Wangusi as the Director General for a term of four years, effective 22 August 2015. Read More

NIN mandatory from September 1, says NIMC

The National Identity Management Commission (NIMC) has put 1st September, 2015 as the date from which all transactions involving the identification of individuals must be done with the National Identification Number (NIN). Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika

FEATURED STORY

IHS plans to inject fresh $500m to grow capacityIHS plans to inject fresh $500m to grow capacity

Mohammed Darwish, managing director of IHS Towers, says the firm will soon inject another $500million into the business after raising some $2.5billion to finance expansion drives. Darwish spoke with biztecafrica.com in Lagos.

IN DEPTH

As curtain falls on MDGs, what next?As curtain falls on MDGs, what next?

Dr. Bjorn Lomborg, president of the Copenhagen Consensus Centre, speaks to Biztechafrica about setting smart targets.