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
For the first time in its history, the World Public Summit will be held on the African continent. On 29–30 July 2026, Addis Ababa, the capital of Ethiopia, will host the World Public Summit. Africa — “A New World: Africa in Shaping a Shared Future.”
The Summit is organised by the World Peoples Assembly in cooperation with African partner organisations. It will bring together leaders of public diplomacy, representatives of international intergovernmental and non-governmental organisations, academics, experts, representatives of the education and cultural sectors, youth leaders, socially responsible businesses, media professionals, and civil society institutions from across Africa and other regions of the world.
The World Public Summit. Africa continues the work initiated during the First World Public Assembly “A New World of Conscious Unity,” held in Moscow in September 2025, and serves as one of the key milestones in preparation for the Second World Public Assembly “A New World: Values That Unite,” which will take place in Moscow on 18–19 September 2026.
Today, Africa is emerging as one of the principal centres of global development. Rapid demographic growth, expanding entrepreneurship, strengthening regional integration, rich cultural heritage, and the growing role of civil society institutions make the continent an increasingly important contributor to the future architecture of international cooperation.
The Summit will focus on issues of genuine sovereignty and sustainable development, public diplomacy, preservation of cultural and historical heritage, international cooperation in education and science, youth engagement, innovation-driven development, creative industries, and the formation of new partnerships among countries and peoples.
The main business programme of the Summit will take place on 30 July 2026 at the headquarters of the United Nations Economic Commission for Africa (UNECA) in Addis Ababa. Holding the Summit at UNECA highlights its pan-African dimension and creates opportunities for broad international dialogue on humanitarian cooperation and public diplomacy.
The programme will include plenary sessions, strategic dialogues, and expert panels dedicated to values-based development, education, culture, youth leadership, innovation, and international cooperation.
Participation has already been confirmed by Professor Saidou Madougou, Director of the Department of Education, Science, Technology and Innovation of the African Union; Rita Bissoonauth, Director of the UNESCO Liaison Office to the African Union and UNECA in Addis Ababa; Zuzana Schwidrowski, Director of the Macroeconomics, Finance and Governance Division of UNECA, as well as ministers, leaders of public organisations, and representatives of the business community from a number of African countries.
On the same day, the ADWA Victory Memorial Museum—Ethiopia’s national memorial complex dedicated to the Victory of Adwa and an important centre for preserving the historical memory of the Ethiopian people—will host the award ceremony of the regional stage of the V International Competition “Leader of Public Diplomacy”, followed by a large-scale cultural programme.
One of the key outcomes of the Summit will be the adoption of the African Communiqué, reflecting proposals and recommendations aimed at strengthening humanitarian, educational, cultural, and public cooperation between African countries and other regions of the world.
The outcomes, initiatives, and recommendations were developed during the World Public Summit. Africa will be presented at the Second World Public Assembly “A New World: Values That Unite”, to be held in Moscow on 18–19 September 2026.
According to Andrey Belyaninov, General Secretary of the World Peoples Assembly, “the Addis Ababa Summit is an important step toward building a new world founded on mutual respect, cultural diversity, dialogue and sustainable development.”
By Adedapo Adesanya
The United Kingdom will get its seventh Prime Minister in 10 years as Mr Keir Starmer announced his resignation on Monday.
The Minister said he is stepping down as leader of the governing Labour Party and will leave office within weeks, scarcely two years after being elected in a landslide.
Mr Starmer says he will remain caretaker prime minister until a new Labour leader is chosen by the party.
Mr Starmer made the announcement after facing growing pressure to hand over to a new leader who can try to revive the government’s flagging fortunes.
He led Labour to a landslide election victory in July 2024, but since then, his popularity and that of the party have plummeted.
His departure was triggered by the victory of Mr Andy Burnham in a special election last week. The popular ex-mayor of Greater Manchester planned to challenge the existing PM for the Labour leadership.
Mr Starmer made the announcement outside the prime minister’s 10 Downing St. residence with a brief statement on Monday.
“The question my party is asking now is whether I am best placed to lead us into the next general election,” Mr Starmer said. “I have heard the answer of my parliamentary party to that question, and I accept that answer with good grace.
Mr Starmer is the sixth prime minister in a decade to stand outside 10 Downing Street and announce a premature departure.
It comes the day before Britain marks the 10th anniversary of its vote to leave the European Union, a decision that still affects the country’s economy and politics.
Over the past decade, 10 Downing Street has had six occupants, including Mr David Cameron, who left office in 2016 after the Brexit referendum and was succeeded by Ms Theresa May. She was followed by Mr Boris Johnson, whose tenure covered Brexit and the COVID-19 pandemic. After Mr Johnson came Ms Liz Truss, whose 49-day premiership was the shortest in British history. Mr Rishi Sunak then took office before being succeeded by Mr Starmer, the outgoing occupant of Number 10.
By Aduragbemi Omiyale
A financing facility of up to $60 million has been secured by AXIAN Energy, the energy division of the AXIAN Group.
The funding package was provided by MCB, one of the leading financial institutions in the Indian Ocean region.
It comprises a $40 million revolving credit facility with a three-year tenor and extension option, and $20 million in unfunded instruments, providing AXIAN Energy with enhanced financial flexibility, enabling the company to rapidly mobilise resources and seize development opportunities across its target markets.
The energy firm is expected to use the capital to deliver large-scale energy infrastructure projects across Africa.
Over the past two years, AXIAN Energy has significantly accelerated its growth by expanding its renewable energy project pipeline, with solar projects currently under development in Senegal, Benin, Zambia, Côte d’Ivoire, Madagascar, and Burkina Faso.
Building on this momentum, AXIAN Energy now operates a portfolio comprising 350 MW of installed renewable energy capacity, supported by 77 MWh of energy storage capacity, positioning the AXIAN Group as a major contributor to Africa’s energy transition.
The chief executive of AXIAN Energy, Mr Benjamin Memmi, said, “This transaction marks a key milestone in AXIAN Energy’s growth trajectory. It provides us with the financial capacity to sustain the momentum we have built over the past two years, further strengthening our renewable energy portfolio and expanding our presence across new African markets.”
Also commenting, the Global Head of Structured Finance at MCB, Mr Mathieu Delteil, said, “We are proud to support AXIAN Energy in structuring this facility, reaffirming our commitment to enabling transformative projects across Africa.
“By leveraging our sector expertise and deep understanding of regional markets, we have delivered a tailored financing solution that aligns with AXIAN’s long-term renewable energy ambitions.
“This partnership highlights our role as a strategic financial partner, mobilising capital towards investments that drive sustainable growth and accelerate the energy transition across the continent.”
The financing agreement between the two organisations strengthens their long-standing relationship because it is driven by a shared commitment to supporting infrastructure development and economic growth across Africa.
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