SADC Leadership Changes: The Challenges and Future Perspectives

Image

By Kester Kenn Klomegah

The Southern African Development Community (SADC) held the 41st Ordinary Summit of Heads of State and Government in Lilongwe, Malawi from 17 to 18 August 2021 with a limited number of participants. The modest symbolism associated with the gathering was to observe strictly the COVID-19 protocols.

The summit held under the theme Bolstering Productive Capacities in the Face of COVID-19 Pandemic for Inclusive, Sustainable, Economic and Industrial Transformation was preceded by a Council of Ministers meeting held in a hybrid format whereby a limited number of delegates attended physically, while others participated through virtual platforms.

The chosen theme seeks to review the past and explore further effective ways to accelerate the implementation of the SADC Regional Indicative Strategic Development Plan (RISDP) 2020-2030, in particular, the Industrialization and Market Integration pillar.

During the summit, Dr Lazarus McCarthy Chakwera, President of Malawi took over the chairpersonship of SADC from Filipe Jacinto Nyusi, President of Mozambique who assumed the topmost position of SADC on 17 August 2020 during the 40th SADC Summit.

Dr Chakwera, the new Chairman of SADC and the President of the hosting country, in his speech underscored a number of significant points.

He reassured the group to pursue two key documents for the region: the SADC Regional Indicative Strategic Development Plan (RISDP) 2020-2030 and the SADC Vision 2050, as well as the establishment of SADC Humanitarian and Emergency Operations Centre (SHOC).

As the incoming leader, he indicated to work on the inequalities and disparities in accessing COVID-19 vaccines that are seriously hindering efforts to save the lives of millions within the SADC and the task must be tackled head on.

The inequalities and disparities in the distribution and production of COVID-19 vaccines are symptomatic of an old geopolitical framework that is no longer working, no longer sustainable, and no longer acceptable. African countries are full members of the global community.

The time has come to work on the African Free Trade Area (AfCFTA), and to seek economic sustainability, especially at a regional level like SADC. It is necessary to utilize the productive capacities and turn the economies into engines for sustainable growth. It is necessary to revitalize the agricultural sector, enhancing value addition, facilitating

trade, and simplifying rules of origin. The African Continental Free Trade Area has availed SADC the opportunity to become the breadbasket and export basket of Africa.

“But we must seize the moment. We must fully implement the SADC Industrialization Strategy and Road-map, SADC Regional Agriculture Policy and SADC Regional Infrastructure Development Master Plan, among others,” he stressed in his speech.

In line with the new SADC theme, the Government of Malawi is currently implementing the Malawi 2063, a vision focused on three drivers towards middle-income status for the economy: Agricultural Productivity and Commercialization, Industrialization, and Urbanization.

In this regard, one of Malawi’s flagship projects is the Shire Valley Transformation Programme (SVTP) for the period 2018 to 2031 valued at $563 million. Its aim is to increase agricultural productivity and commercialization for targeted households in the Shire Valley and to improve the sustainable management and utilization of natural resources.

The true potential of this project lies in the opportunities for private sector participation from member states, for value addition chains towards industrialization. Such initiatives also benefit greatly from the Annual SADC Industrialization Week, which facilitates business linkages and promotes trade opportunities between member states.

“These are the tools for regional integration I promise to push for during my tenure as chair because the time has come to turn our talk on regional integration into our walk. That is why Malawi will ensure that the 5th SADC Industrialization Week is held here

sometime this coming November to make this year’s theme a reality,” Dr McCarthy Chakwera said, taking over the mantle of leadership of SADC.

Filipe Jacinto Nyusi, President of Mozambique, in handing over speech highlighted the following points: revitalizing trade across borders, enhancing industrial production within southern borders, and accelerating recovery of key sectors such as tourism.

The revival of the economies depends on the collective ability and step up the efforts toward economic stability, overcoming serious challenges together to eradicate poverty, food insecurity, and infrastructural underdevelopment, and build our region back better.

“We must therefore tackle the roadblocks standing in the way of our quest to reach this goal. One critical roadblock we must confront is the toxic nationalism that is causing some nations in the world to hoard millions of vaccine doses and deny other nations access to the same. Similarly, we must confront the toxic nationalism that is causing some regions in the world to deny other regions like SADC the rights to produce vaccines for their own populations,” he said.

According to him, “the key pillars of regional integration must be pursued and the goal of regional integration must be attained. We all agree that if we truly want inclusive and sustainable economic transformation across SADC, then regional integration is non-negotiable. We must enhance cross-border trade and investment in our region through the existing SADC mechanisms and where need be, introduce new ones.”

President Filipe Nyusi added: “We must fully embrace industrialization as the most effective means of achieving the main goals of SADC namely: increased economic productivity; stronger regional integration; and reduced poverty for people living in the region. We must facilitate the free movement of our peoples in a manner commensurate with our shared conviction that we are truly a community of shared values and shared interests.”

Among other key highlights at the gathering, the Executive Secretary of SADC, Dr Stergomena Lawrence Tax, bade farewell to the SADC Heads of State and Government after serving for 8 years and on other hand, welcomed a new SADC Executive Secretary. Coincidentally, Lawrence Tax was sworn in as the SADC Executive Secretary at the 33rd SADC Summit, which Malawi last hosted in Lilongwe in August 2013.

In this position, her key responsibilities have been engaging all the members as an economic bloc, overseeing, and implementing various programmes and projects in the Southern African region.

In her farewell speech, she highlighted the achievements of SADC over the years, in terms of peace and security, consolidation of democracy, macro-economic convergence, industrialization, intra-trade, regional connectivity, access to energy, financial integration and inclusion, and mobile penetration.

The region remains stable and peaceful, notwithstanding, isolated challenges. This is attributed to solid systems and measures in places, such as our regional early warning, preventive and mediation mechanisms, which facilitate timely detection and redress of threats and challenges, and effective deployments of the organization’s electoral observation missions.

The tail-end of my term of office encountered challenges associated with the COVID-19 pandemic, which remains a major concern and a challenge globally, and in almost all SADC member states. That, however, SADC has exhibited determination, solidarity and has undertaken several coordinated regional responses and put in place various harmonized measures to fight the pandemic and mitigate its socio-economic impacts.

Whereas the region has progressed in terms of its objectives, it is yet to achieve its ultimate goal of ensuring economic well-being, improvement of standards of living and quality of life for the people of Southern Africa.

As a national of the United Republic of Tanzania, Lawrence Tax also expressed her gratitude to the Government of the United Republic of Tanzania for the trust, and for nominating her for this position in 2013. She particularly expressed satisfaction with the progress made in empowering women, both economically, and in leadership positions in the region, and called for sustained and accelerated progress in women empowerment, and there are still grounds to be covered.

Notwithstanding some differences in political culture, national policies and approaches towards development issues, the history, shared principles and values, and common agenda has always enabled the region to find common grounds. In general, SADC had come a long way since the days of the liberation struggles, and the Region owed its cooperation, unity and development to the founders of this great organization whose sacrifices have enabled the level of transformation and successes it is enjoying today.

The summit featured the following meetings and events: SADC Public Lecture under the theme: Promoting Digitalization for Revival of SADC Industrialization Agenda in the COVID era; Meeting of Standing Committee of Senior Officials and Finance Committee Meetings; Meeting of SADC Council of Ministers and SADC Organ Troika Summit.

The summit took stock of progress made in promoting and deepening Regional Integration in line with SADC’s aspirations as espoused in the RISDP 2020-2030 and Vision 2050, which envisage a peaceful, inclusive, competitive, middle- to high-income industrialized Region where all citizens enjoy sustainable economic well-being, justice, and freedom.

Moussa Faki Mahamat, Chairperson of the African Union Commission; Dr Vera Songwe, Executive Secretary of the United Nations Economic Commission for Africa; Dr Akinwumi Adesina, President of the African Development Bank; Heads of Regional and International Organization; and Head of Mission and Members of Diplomatic Corp were present at the summit in Malawi.

SADC in Brief

SADC is an organization of 16 Member States established in 1980 as the Southern African Development Coordinating Conference (SADCC) and later in August 1992 transformed into the Southern African Development Community (SADC).

The mission of SADC is to promote sustainable and equitable economic growth and socio-economic development through efficient, productive systems, deeper cooperation and integration, good governance and durable peace and security; so that the region emerges as a competitive and effective player in international relations and the world economy. Member States are Angola, Botswana, Comoros, Democratic Republic of Congo, Eswatini, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, United Republic of Tanzania, Zambia and Zimbabwe.

Share
Related Stories
Image
06-November-2023

Russia Assures Equatorial Guinea Strong Trade, Economic Ties

By Kestér Kenn Klomegâh Russian President, Mr Vladimir Putin, has held talks with the Equatorial Guinean President, Mr Teodoro Obiang Nguema Mbasogo, who was in Moscow on an official working visit. The visit could be characterized as historic and interpreted as one major step to broadly review the political situation in the Central African region, and specifically assess the prospects for deepening bilateral cooperation between Russia and Equatorial Guinea. As the current rotating Chairman of the Economic Community of Central African States (ECCAS), the regional economic bloc uniting Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea,

Image
05-October-2023

AfDB, ECOWAS Bank Sign Dual Currency Credit to Tackle Food Insecurity

By Adedapo Adesanya The African Development Bank Group (AfDB) and the ECOWAS Bank for Investment and Development (EBID) have signed an agreement for a dual currency line of credit comprising $50 million and €50 million to support local agricultural businesses in West Africa. The credit lines are expected to strengthen food security, economic growth, and employment generation. The President and Chairman of the Board of Directors of EBID, Mr George Agyekum Donkor and Mr Solomon Quaynor, AfDB Vice President for Private Sector, Infrastructure, and industrialisation, formalised the agreement during a signing ceremony at the bank’s headquarters in Abidjan, Côte d’Ivoire.

More Stories
Image
02-March-2017

Leading Botswana Law Firm Joins ALN Alliance

By Dipo Olowookere One of Botswana’s largest law firms, Desai Law Group (DLG), has joined the ALN, Africa’s foremost legal alliance, as its member firm in Botswana. DLG was established by prominent Botswana corporate lawyer, Mr Rizwan Desai, who wanted to create a firm that would be defined by its modern approach and characterised by placing clients’ needs first whilst building long-term relationships. DLG represents a wide range of clients, including blue chip companies, banks and other local and international players. Mr Desai is supported by three partners, each highly respected in their fields of expertise. DLG recently joined forces

Image
24-April-2019

Dangote Flour Shares Gain 9.81% After News of Proposed Sale

By Dipo Olowookere Shares of Dangote Flour Mills Plc appreciated on Tuesday by 9.81 percent following information that Olam International Limited was proposing to acquire 100 percent equity stake in the company for the sum of N130 billion. At the last trading session on Thursday, April 18, 2019, shares of the flour milling firm was exchanged at N10.70k per unit, at the close of business on Tuesday, April 23, 2019, they went up to N11.75k per share. Before yesterday’s announcement, there had been huge trading activities around Dangote Flour, making some investors suspicious of something. Business Post observed that on

Image
28-November-2020

AfDB Approves $120m for Hydropower Plant

By Adedapo Adesanya The African Development Bank (AfDB) has approved a $120 million loan to fund the construction of a 50 megawatts hydropower plant in western Tanzania, the bank has said. The Malagarasi hydropower project will provide reliable renewable energy to households, schools, clinics and small and medium-sized enterprises in Kigoma region, the AfDB said in a statement. The project’s overall cost is estimated at $144.14 million while the bulk of the $120 million will be sourced from the bank group’s sovereign window, with an additional $20 million contributed by the Africa Growing Together Fund. The government of Tanzania will

Image
04-November-2021

ICPC Lobbies ECOWAS to Combat Crimes in West Africa

By Adedapo Adesanya The Independent Corrupt Practices and other related offences Commission (ICPC) has called on the leaders of the Economic Community of Western African States (ECOWAS) to fashion and pursue a robust Anti-Money Laundering (AML)/Combating Financing of Terrorism policy in the fight against corruption and other violent crimes pervading the region. The Chairman of the commission, Mr Bolaji Owasanoye, made the call while lamenting that illicit financial flow, as well as illegal trade in pangolins, elephant tusks and other wildlife, is estimated to have cost the region billions of dollars. The ICPC boss, while delivering his keynote address at

Image
22-March-2022

Oil Surges as EU Mulls Ban on Russian Crude

By Adedapo Adesanya Oil prices rallied more than 7 per cent on Monday amid consultations by the European Union (EU) about potentially joining the United States in banning imports of Russian crude. Brent crude jumped 7.83 per cent or $8.45 to sell at $116.4 per barrel while the US West Texas Intermediate (WTI) moved up by 7.27 per cent or $7.61 to trade at $112.30 per barrel. The EU may impose an oil embargo on Russia over its invasion of Ukraine. Governments of the bloc will gather this week with US President Joe Biden for a series of summits designed

Image
19-November-2021

PHEDC Lauds Akwa-Ibom Youth for Foiling Vandalism

By Adedapo Adesanya The Port Harcourt Electricity Distribution Company (PHEDC) has lauded the youths of Idung Udofa Community in Eket Local Government Area of Akwa Ibom State for their vigilance in apprehending two electricity vandals who vandalized armoured cables from the company’s substation in Eket. According to a statement signed by the PHED Head of Corporate Communications, Mr John Anonyai, the two suspects whose plot was foiled by the youths, according to the Disco, are currently being held at the Eket Divisional Police Station awaiting prosecution. It was disclosed that a third suspect managed to escape, adding that the police

Image
11-August-2018

NSE Index Drops to 10-Month Low as Market Capitalisation Falls to N12tr

By Dipo Olowookere The Nigerian stock market suffered its biggest loss in over two months on Friday, closing 2.17 lower when activities were brought to an end. The last time the market posted a decline of more than 2 percent was on June 1, 2018, when a 3.38 percent loss was recorded on that trading day. Business Post reports that at the close of transactions yesterday, the Nigerian Stock Exchange (NSE)’s All-Share Index (ASI) depreciated by 786.19 points to finish at 35,446.47 points, its lowest level since October 2017. Also, the market capitalisation, which shows the total value of stocks

Image
09-November-2023

NASD OTC Stock Market Witnesses 0.13% Depreciation

By Adedapo Adesanya  The NASD Over-the-Counter (OTC) Securities Exchange slumped by 0.13 per cent on Wednesday, November 8, affected by a weakening in the health of two admitted securities. FrieslandCampina Wamco Nigeria Plc further depleted by 40 Kobo in the midweek session to close at N74.00 per share versus the previous day’s N74.40 per share, and UBN Property Plc went down by 12 Kobo to sell at N1.36 per unit compared with Tuesday’s closing price of N1.48 per unit. The losses posted by the duo pulled down the market capitalisation of the bourse by N1.46 billion to N1.121 trillion from

Ad
Ad
Recent Stories
Image
02-December-2023

Strong Inflationary Pressures Keep Nigeria’s Private Sector PMI Down

By Modupe Gbadeyanka Strong inflationary pressures in November further negatively impacted companies in Nigeria, with new orders and output both falling as customers were either reluctant or unable to pay higher charges. Purchase prices rose at the fastest pace in almost two years amid exchange rate weakness and higher costs for fuel and materials. According to the latest Purchasing Managers’ Index (PMI) from Stanbic IBTC, business conditions remained under pressure, scoring 48.0 points last month compared with the 49.1 points it garnered in October 2023. Readings above 50.0 signal an improvement in business conditions, while readings below 50.0 show deterioration.

Image
02-December-2023

Coker-Odusote: 100 Days at the Helm of NIMC

By Walter Duru, Ph.D It was Albert Einstein who once said that “setting an example is not the main means of influencing another, it is the only means.” That sentiment expressed by Einstein is the primary essence behind the theory of transformational leadership, which requires passion, charisma, and the ability to motivate others. Transformational leaders are usually very authentic, emotionally intelligent, great listeners, results-focused, visionary, and self-aware. In just 100 days at the helm of the National Identity Management Commission (NIMC), Engr. Abisoye Coker-Odusote has ushered in a new era of transformational leadership, leaving an indelible mark on the organization. Her eventual confirmation

Image
02-December-2023

Partnerships for Progress: Collaboration Between Banks and Fintechs is the Future of Banking in Africa

By Ike.S Anison Historically, the formal banking sector’s penetration in Africa has been relatively low. And, while there has been significant improvement in this area in recent years, there is still a significant portion of the population on the continent who are unbanked or lack access to financial services. According to the World Bank, approximately 350 million adults in sub-Saharan Africa are still unbanked, accounting for 17% of the 2 billion global unbanked population. This has largely been due to a struggle to tap into the continent’s low-income segment, the widest proportion of the population. Consumers within this market feel

Image
02-December-2023

Naira Plunges 11.4% to N927/$1 at Official Market as FX Demand Rises

By Adedapo Adesanya The Naira started the first trading session in the last month of 2023 on a negative note after it depreciated against the Dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM), which is the official FX window, by 11.4 per cent or N94.87 on Friday, December 1, closing at N927.19/$1, in contrast to Thursday’s exchange rate of N832.32/$1. The December rush for forex contributed to the weakening of the domestic currency in the spot market yesterday, as the supply of foreign currency could not meet what customers needed. Data showed that the value of FX transactions recorded

Image
02-December-2023

Newrest, FrieslandCampina, Acorn Drive 0.14% Gain at Unlisted Stock Market

By Adedapo Adesanya The trio of Newrest Asl Plc, FrieslandCampina Wamco Nigeria Plc, and Acorn Petroleum Plc made the NASD Over-the-Counter (OTC) Securities Exchange appreciate by 0.14 per cent on Friday, December 1. The three gainers pressed down the 8 Kobo loss reported by UBN Property Plc, which closed the trading session at N1.52 per unit compared with the preceding day’s value of N1.60 per unit. During the trading day, Newrest Plc gained N1.46 to close at N16.10 per share compared with Thursday’s closing price of N14.64 per share, FrieslandCampina Wamco Plc moved up by 60 Kobo to end the

Image
02-December-2023

Oil Falls on Worries About Voluntary Supply Cuts

By Adedapo Adesanya Oil slumped by more than 2 per cent on Friday as traders showed scepticism about the depth of supply cuts by the Organisation of the Petroleum Exporting Countries and its allies (OPEC+) as well as concerns about sluggish global manufacturing activity. Brent crude went down by $1.98 or 2.45 per cent to close at $78.88 a barrel as the US West Texas Intermediate (WTI) crude dropped $1.89 or 2.49 per cent to sell for $74.07 a barrel. For the week, Brent posted a decline of about 2.1 per cent, while WTI lost more than 1.9 per cent.

Image
02-December-2023

Sanwo-Olu Assures Businesses More Incentives, Commissions New Godrej Factory

By Modupe Gbadeyanka Business owners in Lagos have been assured of more incentives by the state governor, Mr Babajide Sanwo-Olu, who added that this is part of his administration’s commitment to reforms aimed at improving the ease of doing business and enhancing investment opportunities. Speaking at the commissioning of the newly-built wet hair production factory of Godrej Nigeria Limited, the Governor said his government would continue to pursue actions that would eliminate red tapes and regulatory impediments hindering the growth of businesses in the state, thereby demonstrating his willingness for continued collaboration with the private sector to improve the livelihood

Image
02-December-2023

Nigerian Exchange Begins December With 0.08% Growth

By Dipo Olowookere The Nigerian Exchange (NGX) Limited commenced the first trading session in December 2023 on a bullish note, with a marginal growth of 0.08 per cent. Sustained buying pressure kept Nigerian stocks in the positive territory, extending the dominance of the bulls on Customs Street, though the turnover waned. Business Post observed that investors cherry-picked equities in the banking and the energy sectors during the session, leaving them rising by 1.14 per cent and 0.05 per cent, respectively. However, the insurance counter lost 1.10 per cent, the consumer goods index depreciated by 0.08 per cent, and the industrial

Image
01-December-2023

CBN Orders Banks to Place PND on Accounts Without BVN, NIN

By Adedapo Adesanya All bank accounts without Bank Verification Number (BVN) and National Identification Number (NIN) will from April 2024 have “Post No Debit (PND)” placed on them. This is the latest directive of the Central Bank of Nigeria (CBN) to financial institutions operating in the country. In a circular issued by the apex bank and sent to all deposit money banks (DMBs) on Friday evening, the CBN said all the BVN or NIN attached to and/or associated with AL accounts/wallets must be electronically revalidated by January 31, 2024. In the circular seen by Business Post, the central bank said

Image
01-December-2023

LCCI Demands Transparency in CBN Recapitalisation Plan

By Adedapo Adesanya The Lagos Chamber of Commerce and Industry (LCCI) has urged the Central Bank of Nigeria (CBN) to strengthen its banking supervision to prevent some crucial Nigerian banks from failing due to its planned recapitalisation. Last Friday, the Governor of CBN, Mr Olayemi Cardoso, said the CBN would be directing banks to increase their capital base to serve a $1 trillion economy to be achieved by 2030. In a statement signed by Mrs Chinyere Almona, the director general of LCCI, the chamber said, “On recapitalisation of banks, we commend the plan of the apex bank to review the