Prof Mthuli Ncube
By George Swarei
Harare, Zimbabwe – The Southern African Development Community (SADC) is seeking to promote industrialization in the region by attracting private investment, according to Hon. Prof. Mthuli Ncube, Minister of Finance, Economic Development and Investment Promotion, Zimbabwe.
Speaking at the SADC Investment Conference, Ncube emphasized the need for the region to industrialize and diversify its economies to achieve sustainable economic growth and development.
“The SADC region is endowed with strategic natural resources, but we need to add value to these resources through industrialization and innovation,” Ncube said.
Ncube highlighted the challenges facing the region, including high public debt, limited fiscal space, and dependence on primary industries. However, he also noted the progress made in improving the business environment and attracting investment.
The SADC region has huge investment opportunities in sectors such as mining, tourism, energy, and infrastructure development, Ncube said. He also emphasized the importance of financing industrial development, operationalizing the Regional Development Fund, and leveraging capital markets.
Ncube called for unity of purpose among SADC member states to achieve sustained economic growth and development through industrialization.
The SADC Investment Conference is part of the 7th SADC Industrialisation Week, which aims to promote innovation and industrialization in the region.
