PRESIDENT Mnangagwa has left for Niamey, Niger, where he is set to join other Heads of State and Government today at the Session of the African Union (AU) Summit on Industrialisation and Economic Diversification.
The summit runs under the theme, “Industrialising Africa:
Renewed commitment towards an inclusive and sustainable industrialisation and
economic diversification”, and is expected to unlock the evolution of a vibrant
Pan-African enterprise and capital base.
It is part of the Africa Industrialisation Week (AIW –
20-25 November 2022), annual commemorative activities aimed at highlighting
Africa’s renewed determination and commitment to industrialisation.
Transforming the region’s economy through industrialisation
is one of the central pillars towards attaining the continent’s growth and
development goals as articulated in the African Agenda 2063 and the global 2030
agenda on Sustainable Development Goals (SDGs).
President Mnangagwa is among regional leaders invited by
Niger President, Mohamed Bazoum to participate at the high-level indaba.
He is expected to share Zimbabwe’s industrialisation
experience at the regional stage, whose audience includes AU Commission executives
and representatives of its key organs, ministers responsible for industry and
trade, mining, development partner agencies, manufacturing and commerce
leaders, civic society and investment financiers, among other relevant
stakeholders.
Industry and Commerce Minister, Dr Sekai Nzenza, who
arrived in Niamey earlier in the week and was part of the Extraordinary Session
of the Executive Council of the AU on Wednesday, said Zimbabwe’s participation
in the summit was strategic as it is pursuing a comprehensive industrialisation
drive anchored on revitalising value chains.
Through President Mnangagwa’s leadership, she said,
Zimbabwe was driving a private sector-led growth while positioning the country
to tap into vast trade opportunities under the African Continental Free Trade
Area (AfCFTA).
“There are lessons to be learnt from the Zimbabwe National
Industrial Development Policy, which provides the foundation for the structural
transformation of industry and commerce.
“Under President Mnangagwa, Zimbabwe is experiencing a
growth trajectory in production, productivity and industrial capacity
utilisation through targeted sector specific strategies,” said Dr Nzenza.
As one of the pioneer AfCFTA Agreement signatories,
Zimbabwe has anchored its industrialisation policy in readiness to tap into
wider business opportunities in a regionally integrated economic sphere and
what remains is scaling up private sector awareness and buy-in, said Dr Nzenza.
Given the collective responsibility between governments,
development finance institutions, regional and international bodies in economic
development, Dr Nzenza said the summit should help unlock value chain financing
as a critical enabler for robust regional transformation.
“Africa’s story of industrialisation lies in value
addition. We cannot aspire for resilient and sustainable industries for as long
as we continue to export raw commodities,” she said.
Zimbabwe has also called upon the AU Secretariat to
consider undertaking value chain mapping for Africa in order for regional
countries to tap into each other’s strengths as they industrialise and trade.
As part of efforts to buttress regional industrialisation
collaboration efforts, Zimbabwe and Zambia have since embarked on a joint
project to establish a Common Agro-Industrial Park, based on comparative
advantages in the agricultural sector as a starting point for strengthening
cooperation.
The project will be the first of its kind in Southern
Africa and hopes are high that the model will be replicated with more African
countries as the region explores opportunities under the AfCFTA.
In view of the key and strategic interdependences between
industrialisation and the AfCFTA success, the AU has said this week’s summit
seeks to rally desired political momentum, resources, partnerships and
alliances towards a unique Africa-industrialisation drive.
The summit outcomes are expected to unleash an inclusive
and sustainable industrialisation pathway that carries along with the
participation of all economic agents, including SMEs, youth, and women in the
generation of national wealth and creation of jobs, as well as expansion of
entrepreneurship opportunities. Herald
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