Angolan President Takes SADC Chairmanship, Calling For Attainment Of Meaningful Development Through Human and Financial Capital Investment

Angolan President Joao Manuel Gonvalves Lourenco has taken over the Sothern Africa Development Community (SADC) Chairmanship from Felix Antoine Tshiseked, President of the Democratic Republic of Congo (DRC) during the 43rd Ordinary Summit of Heads of State and Government in Angola.

Malawi President Dr Lazarus Chakwera is in attendance of the summit which runs between August 17 and 18, 2023 under the theme “Human and Financial Capital: The Key Drivers for Sustainable Industrialisation in the SADC Region”.

In his acceptance speech on Thursday, President Lourenco said SADC has great potential to attain meaningful development through human and financial capital investment.

Lourenco observed that enhanced industrialisation and market integration programs are critical for the region’s wellbeing.

Outgoing SADC Chairperson, DRC President Felix Antoine Tshisekedi described the theme as key to the implementation of the SADC Industrialisation Strategy and Roadmap to help the region get away from dependence syndrome.

He said the region has potential to diversify its economies if it focuses on adding high value on its manufactured goods.

“As a united regional community of 16 member states, with a combined gross domestic product of around US$720 billion and a total population of over 360 million, 75 percent of whom are young people, we have a market with considerable potential for investment and economic development,” he said.

SADC Executive Secretary Elias Mpedi Magosi emphasised on the need for the region to fast track integration, industrialisation and opening easy access to markets within the region and beyond.