World
SADC Holds Annual Summit, Reviews Existing Challenges, Future Pathways
By Kestér Kenn Klomegâh
Under the theme Promoting Innovation to unlock opportunities for sustained economic growth and development towards an industrialised SADC, the Southern African Development Community (SADC), comprising 16 southern African states, gathered on August 17 to review their collective outstanding development roadblocks and, as traditionally expected, thoroughly discuss another set of measures to be implemented in the next few years.
Southern Africa, as it pertains to the rest of Africa, has been confronted with numerous development challenges. The continent is facing major challenges, especially financing, security, soaring debt levels, and climate change. These decades-old development setbacks have been complicated primarily due to a gross lack of good governance, an ineffective approach, an illicit outflow of capital from the continent, instability and different kinds of ethnic conflicts, and largely their own failure to look for inside solutions to ensure significant success and economic progress.
Today, the sovereign debt in Africa is currently estimated at over $1 trillion, causing a severe fiscal crisis, with more than one (1) in three (3) countries in or at high risk of debt distress. This is also happening when long-term concessional finance, official development assistance, and foreign direct investments are declining.
In addition, climate change is eroding five (5) per cent of GDP on average annually. These impacts are quite evident in the SADC region. That is why we are working on an African position on the reform of the global financial architecture so that Africa’s needs are taken into account at next month’s Summit of the Future and at the Fourth Financing for Development Conference that will take place next year in Spain.
There are no clear solutions. Southern African states have no choice but to look inward for homegrown solutions, including domestic resource mobilisation and innovative financing for climate change, to sustain development.
And SADC can be a leader in this imperative. And SADC can be a leader in this imperative. The region is home to most of the world’s gold, copper, cobalt, lithium, chromium, graphite, and platinum and possesses significant livestock and agricultural endowments.
Four key areas offer SADC innovative and scalable solutions. One of them is the development of regional value chains, and this is possible throughout SADC.
Regional agglomeration remains a ticket to sustainable industrialisation because fragmented approaches will not generate the jobs that are needed, nor will they reduce poverty and inequality.
Indeed, following recent visits to Botswana, Namibia, and Ethiopia to study the beef and leather value chains, it has been concluded that all of SADC offers enormous potential to increase the export markets within these sectors.
That is why SADC partnered with the Arab Bank for Economic Development in Africa (BADEA), which has now approved grant financing for a feasibility study in the beef sector for Botswana that will be conducted by ECA, working closely with the SADC secretariat and partners.
Southern African states suffer from energy deficits. Therefore, an approach to energy solutions from a regional perspective is highly recommended. For example, SADC is using only one per cent of its solar and wind energy potential. This means that SADC can be a continental energy provider with the development of this value chain.
The second area of opportunity is food security. There is no reason why Africa should import food to the tune of $120 billion per year when SADC can be Africa’s breadbasket. This is also why we are embarking on the establishment of the Zambia-Zimbabwe Common Agro Industrial Park, again working with BADEA, who have also approved grant financing for a study to move forward with this initiative. This is not just critical for SADC, but for the whole continent.
Thirdly, there is mineral development. The continent’s critical minerals can deliver fair and inclusive prosperity. The fundamentals for this agenda are stronger than anywhere else in the world. But the window of opportunity is closing.
Appreciably using the study on the DRC-Zambia electric battery initiative as a proof of concept that can and should drive mineral beneficiation and working on a road map to translate this into a reality that will allow expansion to other minerals, such as diamond.
Finally, SADC must leverage technology. The work with Botswana on the Lobu Small Stock Farm shows the benefits of using smart agriculture technologies for climate change adaptation.
With the right investments, we can scale up innovations like this, not just in the agricultural sector but in health, education, finance, and transport, amongst others.
It is commendable that the United Nations Economic Commission for Africa (ECA) is now developing a platform that showcases innovations across Africa, which can be accessed by all countries. This was one of the requests made by member states at the last Conference of Finance Ministers in March this year, chaired by the Minister of Finance of Zimbabwe.
notwithstanding, significant investments and critical infrastructure development are needed to unlock these opportunities. Governments alone cannot do this. The private sector can play its part with the right incentives and de-risking mechanisms.
For instance, the United Nations Economic Commission for Africa (ECA) can work closely with the African Development Bank (AfDB) and regional partners to enhance de-risking mechanisms that promote successful public-private sector partnerships.
As the situation stands, it is necessary to emphasise that the impetus for rapid industrialisation is not simply a question of convenience. It is a matter of absolute necessity. Home-grown solutions can help them address today’s complex challenges. It is time to act collectively as a regional bloc to address existing development problems.
The Southern African Development Community (SADC), which has its headquarters in Gaborone, Botswana, is a sub-regional body of 16 Southern African countries. SADC was established on August 17, 1992, in Windhoek, Namibia, and collectively adopted the SADC Treaty. The main objectives of SADC are development, peace and security, and economic growth to alleviate poverty and enhance the standard and quality of life of the peoples of Southern Africa.
By Kestér Kenn Klomegâh
Africa stands at the cusp of a transformative digital revolution. With the expansion of mobile connectivity, internet penetration, digital platforms, and financial technology, the continent’s digital economy is poised to become a significant driver of sustainable development, intra-Africa trade, job creation, and economic inclusion.
The African Union’s Agenda 2063, particularly Aspiration 1 (a prosperous Africa based on inclusive growth and sustainable development), highlights the importance of leveraging technology and innovation. The implementation of the African Continental Free Trade Area (AfCFTA) has opened a new chapter in market integration, creating opportunities to unlock the full potential of the digital economy across all sectors.
Despite remarkable progress, challenges persist. These include limited digital infrastructure, disparities in digital literacy, fragmented regulatory frameworks, inadequate access to financing for tech-based enterprises, and gender gaps in digital participation. Moreover, Africa must assert its digital sovereignty, build local data ecosystems, and secure cyber-infrastructure to thrive in a rapidly changing global digital landscape.
Against this backdrop, the 16th African Union Private Sector Forum provides a timely platform to explore and shape actionable strategies for harnessing Africa’s digital economy to accelerate intra-Africa trade and sustainable development.
The 16th High-Level AU Private Sector forum is set to take place in Djibouti, from the 14 to 16 December 2025, under the theme “Harnessing Africa’s Digital Economy and Innovation for Accelerating Intra-Africa Trade and Sustainable Development”
The three-day Forum will feature high-level plenaries, expert panels, breakout sessions, and networking opportunities. Each day will spotlight a core pillar of Africa’s digital transformation journey.
Day 1: Digital Economy and Trade Integration in Africa
Focus: Leveraging digital platforms and technologies to enhance trade integration and competitiveness under AfCFTA.
Day 2: Innovation, Fintech, and the Future of African Economies
Focus: Driving economic inclusion through fintech, innovation ecosystems, and youth entrepreneurship.
Day 3: Building Policy, Regulatory Frameworks, and Partnerships for Digital Growth
Focus: Creating an enabling environment for digital innovation and infrastructure through effective policy, governance, and partnerships.
To foster strategic dialogue and action-oriented collaboration among key stakeholders in Africa’s digital ecosystem, with the goal of leveraging digital economy and innovation to boost intra-Africa trade, accelerate economic transformation, and support inclusive, sustainable development.
* Promote Digital Trade: Identify mechanisms and policy actions to enable seamless cross-border digital commerce and integration under AfCFTA.
* Foster Innovation and Fintech: Advance inclusive fintech ecosystems and support innovation-driven entrepreneurship, especially among youth and women.
* Policy and Regulatory Harmonization: Build consensus on regional and continental digital regulatory frameworks to foster trust, security, and interoperability.
* Encourage Investment and Public-Private Partnerships: Strengthen collaboration between governments, private sector, and development partners to invest in digital infrastructure, R&D, and skills development.
* Advance Digital Inclusion and Sustainability: Ensure that digital transformation contributes to environmental sustainability and the empowerment of marginalized communities.
The AU Private Sector Forum has held several forums, with key recommendations. These recommendations provide valuable insights into the challenges and opportunities facing the African private sector and offer guidance for policymakers on how to support its growth and development.
By Kestér Kenn Klomegâh
Lukoil, Russia’s energy giant, has seriously lost its grounds across Africa, due to United States sanctions. Sanctions have complicated the company’s potential continuity in operating its largest oil field projects, grappling its investment particularly in Republic of Ghana, Democratic Republic of Congo, and Federal Republic of Nigeria.
Reports indicated the sanctions are further dismantling most of Lukoil’s operations, causing significant staff layoffs in its offices worldwide. For instance, Lukoil’s significant upstream operations in the Middle East include a 75% stake in Iraq’s West Qurna 2 oilfield and a 60% stake in Iraq’s Block 10 development. In Egypt, the company holds stakes in various oilfields alongside local partners.
Lukoil has until December 13, 2025, to negotiate the sale of most of its international assets, including those in Asia, Africa and Latin America. It has already terminated several important agreements that were signed with international partners due to difficulties in circumventing the sanctions.
Reports said calculated efforts to diversify exploration business relations is turning extremely complex, and current at the cross-roads, Lukoil will have to ultimately give up existing contracts and agreements it had signed with external countries.
Lukoil’s website reports also pointed to reasons for abandoning oil and gas exploration and drilling project that it began in Sierra Leone. According to those reports, Lukoil could withdraw from almost all of the projects in West Africa.
In addition to geopolitical sanctions, technical and geographical hitches, Lukoil noted on its website, an additional obstacles that “the African leadership and government policies always pose serious problems to operations in the region.” Similarly, the Kremlin-controlled Rosneft abandoned its interest in the southern Africa oil pipeline construction, negatively impacted on Angola, Mozambique, South Africa and Zimbabwe.
United States sanctions has hit Lukoil, one of the Russia’s biggest oil companies, like many other Russian companies, that has had a long history shuttling forth and back with declaration of business intentions or mere interests in tapping into oil and gas resources in Africa.
By Kestér Kenn Klomegâh
In New Delhi, President Vladimir Putin, alongside Editor-in-Chief of Russia Today, Margarita Simonyan, took part in the launch ceremony of the RT India TV channel. The TV channel will operate from a new studio complex in New Delhi, marking a new dimension in the bilateral media sphere.
Editor-in-Chief of Russia Today, Margarita Simonyan, indicated that the collaboration, naturally, points to India’s hospitality, affirming that this endeavour was not only worthwhile but long overdue.
Vladimir Putin, officially, launching the TV studio, also emphasized that the Russia Today channel in India, RT India, grants millions of Indian citizens clearer, more direct access into insights about contemporary Russia – the realities, aspirations, and perspectives. He reiterated the existing traditional friendship, and the ties between the Indian and Russian peoples go much deeper into the past; which rests on a solid historical foundation. And at the core of relationship lies mutual interest.
Russia Today is a source of truthful and reliable information, focused on serving the interests of its viewers and listeners. Its main mission is merely to promote Russia, its culture, and its positions on domestic and international issues. Above all, Russia Today strives to convey truthful information about the country and about what is happening in the world. This is the absolute value of Russia Today.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn