SADC strengthens partnerships with AfDB and Afreximbank to drive regional industrialization

The Southern African Development Community (SADC) is strengthening strategic partnerships with major financial institutions to drive regional industrialization, infrastructure development, and trade.

Following a mission in Gaborone, Botswana, the SADC Secretariat and the African Development Bank (AfDB) moved to align development priorities under the Revised SADC Regional Indicative Strategic Development Plan (RISDP) 2020-2030. SADC Executive Secretary Elias Magosi emphasized the need to transform natural resources into economic growth through manufacturing, innovation, and competitive regional value chains. The collaboration aims to utilize concessional financing, guarantees, and blended finance to support energy, agriculture, and climate resilience, while also operationalizing the SADC Regional Development Fund.

Additionally, SADC and the African Export-Import Bank (Afreximbank) met in Bangkok to advance cooperation regarding the African Continental Free Trade Area (AfCFTA). Discussions focused on mobilizing financial and technical resources for rail interconnectivity, automotive development, and the processing of critical minerals. The partnership seeks to shift regional economies from raw material exports toward local value addition, particularly in the pharmaceutical and mineral sectors.