SADC bloc urged to process critical minerals before exporting them in raw form

DURBAN: THE Southern African Development Community (SADC) member states have been urged to accelerate industrialisation by processing critical minerals within the region instead of exporting them in raw form, a move seen as key to boosting value addition, jobs and economic growth.

The call was made by TIB Development Bank Chief Executive Officer, Deogratius Kwiyukwa, on the sidelines of the 9th SADC Industrialisation Week currently underway in Durban, South Africa.

Speaking at the meeting, Mr Kwiyukwa said discussions at the regional forum have centred on how member states can invest in industries that add value to products produced within the SADC region, particularly critical minerals, before they are exported to international markets.

“The major issue discussed was how to ensure that critical minerals are processed and value is added in the countries where they are found within the SADC region before they are sold abroad,” he said.

He noted that the meeting has opened new opportunities for collaboration among member states, including the development of joint strategies to accelerate the implementation of SADC’s industrialisation agenda and broader economic development goals.

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Mr Kwiyukwa further urged member states to align their national development policies and programmes with SADC’s industrialisation vision and strategic priorities to fast-track regional projects that deliver shared economic benefits.

He said TIB Development Bank is participating in the forum to forge partnerships with other regional financial institutions and mobilise pooled capital for financing large-scale development projects across the SADC bloc.

“As TIB, we are here to strengthen collaboration with other financial institutions so that we can combine resources to finance major development projects being implemented by SADC member states,” he said.

The annual SADC Industrialisation Week brings together policymakers, development finance institutions, private sector leaders and investors to explore strategies for advancing regional industrialisation, expanding intra-African trade and strengthening value chains across Southern Africa.