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 Adedapo Adesanya
Nigeria will bear a 15 per cent tariff as President Donald Trump looks to enforce tariffs on countries trading with the United States.
President Trump has set a baseline tariff of 10 per cent on all imports to the United States, as well as additional duties on certain products or countries.
The American President says tariffs will encourage US consumers to buy more American-made goods, increase the amount of tax raised and boost investment.
So, Nigerian companies that bring goods into the US have to pay the tax to the government.
However, they may pass some or all of the extra cost on to customers.
Countries and Tariffs
Here is a list of targeted tariffs he has implemented or threatened to put in place.
Afghanistan – 15 per cent
Algeria – 30 per cent
Angola – 15 per cent
Bangladesh – 20 per cent
Bolivia – 15 per cent
Bosnia and Herzegovina – 30 per cent
Botswana – 15 per cent
Brazil – 50 per cent, with lower levels for sectors such as aircraft, energy and orange juice
Brunei – 25 per cent
Cambodia – 19 per cent
Cameroon – 15 per cent
Canada – 10 per cent on energy products, 35 per cent for other products not covered by the US-Canada-Mexico Agreement
Chad – 15 per cent
China – 30 per cent, with additional tariffs on some products. This agreement, which was due to expire on August 12, has been extended for another 90 days through an executive order, according to a White House official.
Costa Rica – 15 per cent
Cote d’Ivoire – 15 per cent
Democratic Republic of the Congo – 15 per cent
Ecuador – 15 per cent
Equatorial Guinea – 15 per cent
European Union – 15 per cent on most goods
Falkland Islands – 10 per cent
Fiji – 15 per cent
Ghana – 15 per cent
Guyana – 15 per cent
Iceland – 15 per cent
India – 25 per cent, additional 25 per cent threatened to take effect August 28
Indonesia – 19 per cent
Iraq – 35 per cent
Israel – 15 per cent
Japan – 15 per cent
Jordan – 15 per cent
Kazakhstan – 25 per cent
Laos – 40 per cent
Lesotho – 15 per cent
Libya – 30 per cent
Liechtenstein – 15 per cent
Madagascar – 15 per cent
Malawi – 15 per cent
Malaysia – 19 per cent
Mauritius – 15 per cent
Mexico – 25 per cent for products not covered by USMCA
Moldova – 25 per cent
Mozambique – 15 per cent
Myanmar – 40 per cent
Namibia – 15 per cent
Nauru – 15 per cent
New Zealand – 15 per cent
Nicaragua – 18 per cent
Nigeria – 15 per cent
North Macedonia – 15 per cent
Norway – 15 per cent
Pakistan – 19 per cent
Papua New Guinea – 15 per cent
Philippines – 19 per cent
Serbia – 35 per cent
South Africa – 30 per cent
South Korea – 15 per cent
Sri Lanka – 20 per cent
Switzerland – 39 per cent
Syria – 41 per cent
Taiwan – 20 per cent
Thailand – 19 per cent
Trinidad and Tobago – 15 per cent
Tunisia – 25 per cent
Turkey – 15 per cent
Uganda – 15 per cent
United Kingdom – 10 per cent, with some auto and metal imports exempt from higher global rates.
By Adedapo Adesanya
The Director-General (DG) of Nigeria’s Securities and Exchange Commission (SEC), Mr Emomotimi Agama, says Africa and the Middle East must tap into opportunities in digital assets, which will be worth $10 trillion by 2030.
The SEC DG said this in his acceptance speech after he was elected the Vice Chairman of the Africa/Middle East Regional Committee (AMERC) of the International Organisation of Securities Commissions (IOSCO).
According to a statement, with young and tech-savvy populations, Africa and the Middle East must lead and not follow in digital assets.
He said his mandate as the Vice Chairman was to transform the capital markets into engines of inclusive growth, innovation, and shared prosperity for Africa and the Middle East.
”We must aggressively expand listings by working with African Financial Markets Initiative (AFMI) and SSA exchanges to harmonise standards, reduce listing costs, and create cross-border linkages.
”To boost liquidity, we will pioneer regional market-making schemes and advocate for pension fund reforms to channel domestic savings into productive investments.
“Critically, we will partner with AFMI and development institutions to de-risk infrastructure investments and attract global capital.
”However, infrastructure alone is not enough. With 70 per cent of Africa’s population under 30, we must empower youth through: Retail investor programmes to democratise market participation, Fintech sandboxes to nurture youth-led innovation and Listings of high-growth startups to create wealth and jobs,” he said.
Mr Agama said there was still a lot of work to be done despite the progress made by IOSCO, calling on members to continue to render the mutual support and cooperation of past years for the benefit of investors, markets and indeed the world economy.
He noted that the committee would continue to deepen discussions and debates to launch a “Listings Growth Initiative” for Small and Medium Enterprises.
Mr Agama will serve on the Board of IOSCO, the highest decision making organ of the global securities regulatory organisation, till 2026.
IOSCO was established in 1983 as the standard setter for the securities industry worldwide and currently has over one hundred ordinary members. It is recognised as the leading international policy forum for securities regulators. The organisation’s membership regulates more than 95 per cent of the world’s securities markets in over 100 jurisdictions.
By Aduragbemi Omiyale
A leading figure in the global cryptocurrency landscape, Tether, has revealed that its exposure to the United States treasuries stood at $127 billion in the second quarter of 2025 compared with about $119 held in the first quarter of this year, becoming one of the largest US debt holders.
This milestone comes at a time when US policymakers, through the GENIUS Act, have taken decisive steps to solidify the Dollar’s global leadership in digital form.
Tether’s reserves composition exemplifies how private innovation can align with public monetary goals, serving as a conduit for secure, on-chain access to US Dollar liquidity at scale.
Business Post gathered that the treasuries held by Tether comprise $105.5 billion in direct holdings and $21.3 billion owned indirectly.
In its financial figures, Tether also revealed that it issued over $13.4 billion USDT between April and June 2025, bringing the circulating supply to more than $157 billion, reflecting the growing adoption of the stablecoin and deepening the trust in Tether as the most stable, transparent, and resilient digital dollar instrument in the world.
The firm said it closed June 2025 with a net profit of about $4.9 billion, bringing the total for the first six months of the year to $5.7 billion.
Building on the strength of its equity buffer and continued profitability, Tether has reinvested a substantial portion of its recent earnings into long-term strategic initiatives.
“Q2 2025 affirms what markets have been telling us all year: trust in Tether is accelerating. With over $127 billion in US Treasury exposure, robust bitcoin and gold reserves, and over $20 billion in new USD₮ issued, we’re not just keeping pace with global demand, we’re shaping it,” the chief executive of Tether, Mr Paolo Ardoino, stated.
“As regulators formalize frameworks for digital dollars, Tether stands as a live, proven model of what stablecoin innovation can achieve: transparency, resilience, and massive global reach.
“USDT is helping billions access the stability of the US Dollar, and that mission has never been more urgent or more relevant,” Mr Ardoino added
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