President Ramaphosa to Attend 43rd Ordinary SADC Summit in Angola

President Cyril Ramaphosa is set to embark on a working visit to Luanda, Republic of Angola, on 16 and 17 August 2023. The visit is in connection with the 43rd Ordinary Summit of the Head of State and Government of the Southern African Development Community (SADC), a gathering aimed at addressing the sustainable industrialization of the region.

Themed “Human and Financial Capital: The Key Drivers for Sustainable Industrialisation of the SADC Region,” the summit aims to underscore the importance of human and financial resources in fostering the industrial development of the Southern African region.

Prior to the main summit, on 16 August 2023, the Organ Troika Summit of the SADC Organ on Politics, Defence, and Security Cooperation will convene. President Ramaphosa, in his capacity as the outgoing Chairperson of the SADC Organ, will attend this summit.

Discussions will center around the political and security landscape of the region, with a particular focus on nations such as the Kingdom of Lesotho, Kingdom of Eswatini, Mozambique (SADC Mission in Mozambique), and the Democratic Republic of Congo. Democracy consolidation in the SADC and the socio-economic prospects of the community will also be deliberated upon during this summit.

The SADC Summit will further include the announcement of the winner of the 2022 SADC Secondary School Essay Competition, recognition through the Media Awards, and a tribute to one of the SADC Founders, the late and first President of the Republic of Botswana, His Excellency, Sir Seretse Khama.

The preceding events leading up to the summit will involve the SADC Council of Ministers meeting on 13-14 August 2023, and a Ministerial Committee of the Organ on 16 August 2023.

President Ramaphosa will be joined by key ministers during his visit, including the Minister of International Relations and Cooperation, Dr Naledi Pandor, the Minister of Defence and Military Veterans, Ms Thandi Modise, and the Minister in the Presidency responsible for State Security, Ms Khumbudzo Ntshavheni.

The 43rd Ordinary SADC Summit holds the promise of advancing the agenda of sustainable industrialization in the Southern African region, underscoring the significance of cooperation and collaboration among member states.

Comments by Mr. Tinashe Mpasiri, Member of the Banking On Africa’s Future (BOAF) Network:

Mr. Tinashe Mpasiri, a former host of a financial literacy show on The 1873 FM radio and a member of the Banking On Africa’s Future (BOAF) Network, emphasizes the crucial significance of the upcoming SADC Summit’s theme.

He explains that the theme, “Human and Financial Capital: The Key Drivers for Sustainable Industrialisation of the SADC Region,” underscores a pivotal aspect of regional development.

“In the context of fostering industrial growth,” Mr. Mpasiri states, “it’s imperative to recognize that industrialization doesn’t merely rely on machinery and raw materials. While these are essential, the true engine of development lies in human and financial resources. Human resource development ensures a skilled workforce capable of driving innovation and implementing sophisticated solutions.”

Mr. Mpasiri continues, “Financial literacy, in this context, plays a critical role. Developing a population well-versed in financial matters enables individuals to not only manage their personal finances but also understand the complexities of investment, capital accumulation, and resource allocation. When we talk about bridging the capital gap for industrial development, it’s not just about attracting external investments. It’s about nurturing a local understanding of financial markets, fostering entrepreneurship, and encouraging the creation of innovative financial solutions.”

He highlights the interconnectedness of these factors: “To truly accelerate industrial development within the SADC bloc, a comprehensive approach is needed. Industry demands not just factories, but a supportive ecosystem where financial literacy, innovative financing mechanisms, and a skilled workforce come together. Only then can we expect sustainable, inclusive growth that benefits the entire region.”

Mr. Mpasiri concludes by expressing his optimism for the outcomes of the summit: “The SADC Summit’s focus on human and financial capital is a commendable step towards holistic development. As we discuss sustainable industrialization, let’s remember that a robust economy is built from the ground up, driven by knowledgeable individuals and innovative financial strategies. This summit serves as a platform to foster these essentials and pave the way for a brighter future for Southern Africa