Outgoing Southern African Development Community (SADC) Chairman Cyril Ramaphosa has revealed that USD 500 million of committed productive investments by South African companies in each of the value chains across the region was secured during his tenure as Chairperson of the regional body.
Mr. Ramaphosa who is the President of South Africa explained that the investments cover forestry, agriculture and agro-processing, fertilizer, mining and mineral processing and pharmaceuticals.
President Ramaphosa said this reflects South Africa’s commitment to moving from trade-based to an investment led development strategy for the region.
He was speaking at the Safari Conference Centre in Windhoek yesterday during the official opening of the 38th Ordinary Southern African Development Community(SADC) Summit of Heads of State and Government whose theme is “Promoting Infrastructure Development and Youth Empowerment for Sustainable Development.’’
President Ramaphosa called upon the region to not only collaborate with the private sector in designing regional strategies and initiatives but also identify impediments to greater regional economic integration.
He called for regional cooperation in the development of infrastructure which he said will lower transaction costs, and further enhance regional markets.
Mr. Ramaphosa also called on member countries to continue to be guided by adherence to democratic values and practices.
And President Edgar Lungu was among ten SADC Heads of State and government who attended the official opening of the historical summit.
The African Union(AU) Chairperson, Paul Kagame who is also Republic of Rwanda President also addressed the delegates.
Others in attendance were former Presidents of Mozambique Joaquim Chisano and Namibia’s Sam Nujoma and Hifikepunye Pohamba.
And in accepting the Chairmanship of the SADC for the next one year, Namibian President Hage Geingob said Namibia will ensure the region moves together in one direction.
Dr. Geingob who said Namibia is the birth place for the SADC said the vision of every member should be driven by the conviction that the people in the region should be given the best.
He further said time is now to harness opportunities in value chains.
The Namibian President assumed the leadership of the regional organisation from his South African counterpart Cyril Ramaphosa during the Summit.
And Zambia will assume Chairmanship of the troika for the SADC Organ on Politics, Defense and Security from Angola during the summit.
President Mokgweetsi Masisi of Botswana, Joao Lourenco of Angola, Cyril Ramaphosa of South Africa and Emmerson Mnangagwa of Zimbabwe gave their maiden speeches.
LIST OF MAJOR LOANS (2011 – 2017)
1. Kenneth Kaunda International Airport: $360 million (2014)
2. Poverty reduction projects: $13.5 Billion (2012)
3. Poverty reduction programmes: $6.7 billion (2011)
4. 750MW Kafue Gorge Lower Power Plant: $1.7 billion (2015)
5. 360MW Kariba North Bank Power Plant Expansion: $430 million (2014)
6. Lusaka L400 roads: $300 million (2013)
7. Copperbelt International Airport (Ndola): $400 million (2017)
8. Lusaka de-congestion: $286 million (2017)
9. Communication towers: $280 million (2017)
10. Copperbelt C400 roads: $418 million (2015)
11. Chipata-Serenje railway line: $2.3 billion (2017)
12. Mongu-Kalabo Road: $287 million (2011)
13. 2,000 Military Houses: $157 million (2017)
14. Mansa-Luwingu road: $242 million (2012)
15. Water and…
…..sanitation programme: $135 million (2016)
16. Mbala-Nakonde Road: $180 million (2011)
17. Lusaka sanitation project: $130 million (2015)
18. Kafubu water and sanitation project: $104 million (2014)
19. National Heroes Stadium: $94 million (2011)
20. Levy Mwanawasa Hospital Expansion: $90 million (2015)
21. Kafulafuta Dam water project: $449 million (2017)
22. Housing project for security wings: $275 million (2015)
23. International Development Assistance programme: $600 million (2017)
24. Rural roads project (World Bank): $200 million (2017)
25. Environmental Remediation and Agribusiness Development: $106 million (2016)
26. Miscellaneous small loans: $300 million (estimate)
27. Debt position of previous government up to 2011: $3.5 billion
TOTAL EXTERNAL DEBT: $33.5…
ANNUAL EXTERNAL DEBT SERVICING
2011: $229.6 million
2012: $230.1 million
2013: $325.9 million
2014: $396.0 million
2015: $507.3 million
2016: $660.0 million (estimate)
2017: $800.0 million (estimate)
$750million EUROBOND debt is due for payment