Mugabe urges Sadc to fund regional industrialisation

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Sadc chairperson and Zimbabwean President Robert Mugabe has called for the region to work out effective financial mechanisms to fund the regional industrialisation strategy.

BY TARISAI MANDIZHA

Sadc heads of State and government are expected to endorse a long-term industrialisation strategy that could help reverse the collapse of the productive sector and plug an influx of cheap imported goods.

Officially opening the Sadc Extraordinary summit in Harare yesterday, Mugabe said since the 2014 Sadc summit in Victoria Falls, a taskforce on regional economy had been working on a regional industrialisation strategy and roadmap.

He said the council of ministers had considered and adopted the recommendations.

“Last but most important, is the need for the region to work out effective financial mechanisms to fund the regional industrialisation strategy,” Mugabe said.

“We cannot expect those who benefit from our status as exporters of raw materials to fund our efforts to wean ourselves from this unequal relationship, a relationship in which they have the prerogative of dictating the terms of trade? Just as we were our own liberators from the colonial bondage and oppression, we have to find the resources to free ourselves from economic bondage.”

He was confident of the success of the Industrialisation strategy which he said if implemented effectively, had the potential of unlocking opportunities beyond borders, leading to sustained economic growth and development.

“It is my hope that once we have considered and adopted these recommendations, we will move on to the most important task — that of implementing our decisions,” Mugabe said.

Implementing the regional industrialisation strategy, Mugabe said, was imperative to develop the sectors that enhance the effectiveness of this strategy.

Some of the areas will include to ensure that Sadc has a regional infrastructure development master plan and also research and development which was pivotal to innovative approaches needed to create new products.

Mugabe called for collective action on the Sadc region to put in place effective strategies to boost the productive capacity of industries in Africa.

He said the region was endowed with abundant and diverse natural resources. But despite the rich and diverse endowments, about 70% of the people continue to live below the poverty datum line.

“Our region is endowed with abundant and diverse natural resources. Just to illustrate this point, our mineral sector alone contributes to world production about 6% of coal, 7% of nickel, 8% of copper,13% of uranium, 15% of manganese, 18% of cobalt, 21% of zinc, 26% of gold, 41% of chromite, 55% of diamonds and 72% of the platinum group of metals,” Mugabe said.

“But alas, despite the rich and diverse endowments of our region, about 70% of our people continue to live below the poverty datum line.

“By exporting our natural resources in their raw form, we are not only earning marginal benefits from them, but are, in essence, compromising our efforts to create jobs, or diversify our products, or even develop our industries, and are ultimately, exposing our economies to the vagaries of the fluctuations of the global resource markets.”

He said the situation was equally discouraging in other sectors such as agriculture as Sadc countries have remained as sources of unprocessed agricultural produce thus earning a mere 10% of the actual value of products.

4 COMMENTS

  1. Its ridiculous for Zim to preach any economics to SADC yet we are the greatest failures & laughing stock of the region. How on earth can we expect money be raised for industrialisation when we barely managed to raise money for the SADC summit itself

    • lack of funding for our industry doesnt mean we are not technically sound. we myt be financially unstable but our expertise works. our thinking is above the bar thats why we run the region. you find zimbos occupying critical decision making positions across the world meaning our thinking processes, our thinking lines are certified. RG is 100% correct on this one though on a political front his sell by date has since passed on. but his strategies really works. any serious opposition should show us how they can better implement whta zanu pf proposses because all we need is recorded somewhere in Zanu pf files but implementation is the missing link.

  2. Mugabe destroyed the industry in Zimbabwe and now he wants it back. What is wrong with this man – he is not even shy to say that. He told people in the diaspora that their jobs out there were a horrible despicable thing and turned around and asked for help from the same people he had condemned. His thinking mentality is like that of a child. His administration can not even produce anything in farming with such good land and how does he do it with people like Made in the helm. The same farmers he chased away are the ones selling maize to this country from Zambia this time. He is a political college this man.Young politicians are enjoying free political lessons from this foolish leader. He thinks Zimbabwe is his prperty like a farm and I’m he even thinks that he is immortal. Shame.

  3. Kamudhara aka kanotinyadzisa pese pakanoshama muromo and ndomakurire akakita kakapihwa pito kanoridza ridza pese pese. Mugabe just ask your minister and zanupf chefs to just return a tithe (tenth) of their loot to the country and suddenly there will be smoke from the chimneys in the industrial sites. Matiroko anotanga kufamba.

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