SA busi­ness to pump $500 mil­lion into SADC

Vuk'uzenzele - - Front Page -

PRES­I­DENT RAMAPHOSA has called for bet­ter trade re­la­tions with the pri­vate sec­tor in the re­gion.

The South African busi­ness com­mu­nity has pledged about $500 mil­lion to the South­ern African De­vel­op­ment Com­mu­nity (SADC) to en­sure that busi­ness ac­tiv­i­ties thrive in the re­gion.

This was ac­cord­ing to Pres­i­dent Ramaphosa when he was speak­ing at the 38th Or­di­nary Sum­mit of the Heads of State and Gov­ern­ment of the SADC re­gion in Wind­hoek, Namibia re­cently.

This in­cluded in­vest­ments in forestry, agri­cul­ture and agro-pro­cess­ing, fer­tiliser, min­ing and min­eral pro­cess­ing, as well as phar­ma­ceu­ti­cals.

“We need to en­sure that we cre­ate a con­ducive en­vi­ron­ment for busi­ness to thrive, and to deepen our en­gage­ment with the pri­vate sec­tor.

“Col­lab­o­ra­tion with the pri­vate sec­tor is im­por­tant not only in de­sign­ing SADC re­gional strate­gies and ini­tia­tives, but also in iden­ti­fy­ing im­ped­i­ments to greater re­gional eco­nomic in­te­gra­tion,” said Pres­i­dent Ramaphosa.

The Sum­mit marked the 26th an­niver­sary of the adop­tion of the SADC Treaty, which was signed on 17 Au­gust 1992, and laid the foun­da­tion for the for­ma­tion of the SADC.

Pres­i­dent Ramaphosa said he was en­cour­aged by strides taken to main­tain peace and sta­bil­ity in the SADC re­gion, in­clud­ing the hold­ing of reg­u­lar, free and fair elec­tions.

“The con­sol­i­da­tion of democ­racy and the el­e­va­tion of the rule of law across the re­gion is a sign of the im­proved ef­fec­tive­ness of our re­gional in­sti­tu­tions and mech­a­nisms”.

As the out­go­ing chair of the re­gional body, Pres­i­dent Ramaphosa de­liv­ered his re­port to the sum­mit out­lin­ing the work of the re­gional body for the du­ra­tion of South Africa’s ten­ure as chair from Au­gust 2017 to Au­gust 2018.

As chair, South Africa was guided by its ten­ure theme, ‘Part­ner­ing with the Pri­vate Sec­tor in De­vel­op­ing In­dus­try and Re­gional Value Chains’.

The Pres­i­dent also handed the Chair­ship of the SADC to Namib­ian Pres­i­dent, Hage Gein­gob since South Africa’s ten­ure had come to an end.

Pres­i­dent Gein­gob ex­pressed grat­i­tude to the re­gion’s heads of state for wel­com­ing him warmly and sup­port­ing his chair­ship.

Pres­i­dent Ramaphosa hands over the chair­per­son­ship of SADC to Namib­ian Pres­i­dent Hage Gein­gob.

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