A digital copy of the Business News 24 (25 June edition). Zimbabwe's premier business news free sheet published by the Zimpapers Newspapers Group (1980) Limited and available every week day from 1530hrs to give a summary of the day's business news.

1. News Update as @ 1530 hours, Wednesday 25 June 2014
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By Rumbidzayi Zinyuke
Zimbabwe is set to receive 5,8 mil-
lion euro from the European Union
through the Common Market for East
and Southern Africa as part of efforts
to enhance the country’s regional eco-
nomicintegration,anofficialsaidtoday.
Speaking at the second consultative
workshop for the cotton-to-clothing
strategy, UN economic corporation
attache Ana Pena said the funds will be
availed under the Comesa-led Regional
IntegrationSupportProgramme(RISP)
and the Regional Integration Support
Mechanism (RISM).
“Regional intergration is the only way
for Zimbabwe to develop and we are
working with the Ministry of Industry to
make sure that the country’s capacity
in regional integration is enhanced.
“Under RISP-Comesa Zimbabwe will
benefit 4,8million euro as part of a pro-
gramme to support regional economic
integration. An additional 1 million euro
will come from the RISM-Comesa for
the implementation of the Interim Eco-
nomic Partnership Agreement that was
signed in 2012,” she said.
She said the Ministry of Industry and
Commerce was working with Comesa
on the implementation of the RISM
programme which money would be
made available to Zimbabwe as soon
as negotiations are complete.
Speaking at the same event, African
Cotton and Textile Industries Feder-
ation executive director Rajeev Arora
said active participation in regional
integration would increase inflows of
foreign direct investment for the coun-
try grow the cotton to clothing sector.
He said Zimbabwe should, however,
not focus on producing cotton only but
should increase value addition to grow
the value chain.
“Africaproducesabout5percentofthe
world’s cotton, with over 65 percent of
that coming from West Africa of which
over 80 percent is exported in raw
form. Limited value addition presents a
big opportunity for textile investment.
There is great opportunity in the Zim-
babwean cotton and textile industry
only if policies are aligned to the needs
of the interested investors,” he said.
He said the country is the biggest cot-
ton producer in Southern Africa but is
exporting the bulk of its cotton raw.
Arora added that Zimbabwe should
also take advantage of the duty free
quota free access into United States
for garment exports under AGOA, into
EU for textile products through the EPA
and regional markets through Comesa,
the East African Community (EAC),
Economic Community of West Afri-
can States (Ecowas), and the South-
ern African Development Community
(Sadc).
Zimbabwe to get 5,8 million euro for regional integration
Mr Arora

2. By Lynn Murahwa
Foreign investors have failed to react
to Zimbabwe's foreign investment
attraction policies as the country's for-
eign direct investment figures last year
stagnated at $400 million, the United
Nations Conference on Trade and
Investment (UNCTAD) World Invest-
ment Report 2014 shows.
The country's investment figures
show that FDI figures only doubled
in between 2010 and 2011 when the
Zimbabwe Investment Authority's One
Stop Shop was introduced in 2010, but
the figures have leveled since then.
The $400 million figure is not the low-
est in the region, but pales in signifi-
cance when juxtaposed against that of
neighbouring countries.
The UNCTAD report shows that South
Africa received the highest FDI in Sadc
at $8,1 billion out of the $13,1 billion
that flowed into Sadc, followed by
Mozambique with $5,9 billion.
Zimbabwe'snorthernneighboursZam-
biareceived$1,8billioninFDIlastyear.
Speaking at the launch of the World
Investment Report 2014 yesterday,
United Nations Development Fund
(UNDP) economic advisor Amarakoon
Bandara said the country required
Government commitment in sustaina-
ble investment goals.
“Investing in sustainable investment
goals requires a strategy framework
and full commitment from the Gov-
ernment” he said. ZIA chairman Nigel
Chanakira said once Government has
cleared issues surrounding the indig-
enisation policy and Special Economic
Zone, Zimbabwe will be able to reach
$2 billion per annum from next year.
“Next year, once Government has clar-
ified the Special Economic Zones and
the policy on indigenisation, from our
projects we should move in the range
of the $2 billion mark,” said Chanakira.
Chanakira also said inflows as meas-
ured by UNCTAD should reach $1 bil-
lion starting from this year onwards if
the Essar deal becomes operational.
According to ZIA, 162 investment pro-
jects valued at $400 million have been
approved this year so far.
Meanwhile, the UNCTAD report also
shows that Zimbabwe's FDI outflows
stood at $27 million, reflecting limited
economic activity in the country.
Last week, Invictus Investment Man-
agement chief executive Ritesh Anand
noted that Zimbabwe is contributing
less than one percent of foreign direct
investment towards Africa due to low
investment levels.
“Zimbabwe attracts less than one per-
cent of FDI towards Africa, but it is well
positioned to attract FDI because of its
highly educated population, good infra-
structure and vast natural resources,”
he said. At a broader level, the report
showed that Africa’s FDI inflows
increased by 4 percent during the
period, sustained by growing intra-Af-
rican flows which are in line with the
efforts by leaders for deeper regional
integration. •
2 NEWS
Zimbabwe's FDI inflows stagnate at $400m
Mr Chanakira

3. 3 ENERGY
BH24 Reporter
Government has re-awarded the
Hwange Power Station expansion pro-
ject tender to second favourites Sino
Hydro.
The move raises question over the ten-
der processes after China Machinery
and Engineering Company (CMEC) -
which had initially been awarded the
tender - failed to secure funding for the
project, which is expected to add 600
mega-watts (MW) onto the national
grid .
CMEC tendered a bid price of $1,38 bil-
lion, while Sino Hydro had tendered a
bid price of $1,1 billion.
But despite having been awarded the
tender in April last year, CMEC has
made no headway in accessing funding
for the project.
Energy and Power Development
Minister Dzikamai Mavhaire today
announced that the CMEC contract was
cancelled last month as the project has
stalled.
"The tender for the project was
awarded to China Machinery and Engi-
neering Company (CMEC) of China at
an EPC cost of $1,3 billion.
"CMEC, however, failed to conclude
the contract within the stipulated time
frame that they had agreed upon with
Zimbabwe Power Company (ZPC) and
the Government of Zimbabwe, hence,
the tender was cancelled in May 2014,"
said the minister.
"The Government, through the Minis-
try of Energy and Power Development
has, therefore, directed that the tender
be awarded to Sino Hydro.
Sino Hydro were the second highest
bidders for the project."
The decision by the Government not
to re-tender could indicate a need to
expedite the commencement of the
project, and negotiating a contract with
one of the initial bidders is within nor-
mal practice.
But the question will remain why the
tender was given to a company with
limited financial capacity in the first
place.
Sino Hydro now has two power pro-
jects on its hands, after it won the bid
to expand Kariba Hydro Power Station
in November 2012 in a deal worth
about $360 million.
Implementation of the Kariba South
Power Station extension project has
since commenced.
Zimbabwe is currently facing crippling
power shortages with the national
power demand at peak periods esti-
mated to be in excess of 2 200MW
against available generation of about
1 000MW with the shortfall being
imported from regional power utili-
ties. Installed capacity amounts to 1
960MW. •
Sino Hydro to handle two projects after getting Hwange contract
Minister Mavhaire

4. BH24

5. AdM-DI156506-
BH24

6. 6 NEWS
ICSAZ adds new ECG awards category for banks
BH24 Reporter
The Institute of Chartered Secretar-
ies and Administrators in Zimbabwe
(ICSAZ) has added a special award
category for financial institutions in this
year’s Excellence in Corporate Govern-
ance Awards.
Although the banking sector has
dogged by controversies with several
banksclosingdownoverthelastcouple
of years, a number banks have skated
such problems and an assessment of
the banks' 2013 financials show some
stellar performances.
ICSAZ said for financial institutions
threeawardswillbegivenout,namely:
the Best Bank Risk Management Prac-
tices Award, a Best Bank Internal Con-
trol Environment Award and an Over-
all Best Governed Banking Institution
Award.
To qualify, financial institutions should
have published full annual reports for
the 2013 financial year and should
be still trading under Reserve Bank of
Zimbabwe issued licences on the adju-
dication date.
Announcing the award categories for
this year, ICSAZ chief executive Farai
Musamba said the ECG awards are a
means of promoting good corporate
governance by recognising organisa-
tions that exemplify excellence in cor-
porate governance.
“The awards aim to promote good
corporate governance by recognising
leadership efforts of corporate boards
in practising good corporate govern-
ance in their functioning and the imple-
mentation of ethical and innovative
practices which promote good corpo-
rate governance.
“They are also intended to encourage
corporates to focus on excellence in
their corporate governance practices,”
he said.
Meanwhile, an individual corporate
governance award, the Governance
Professional of the Year Award, will also
be presented for the first time at the
awardsceremony,whichwillbeheldon
October 9.
This is in addition to the corporate gov-
ernance awards for companies listed
on the Zimbabwe Stock Exchange.
All Zimbabwe Stock Exchange-listed
companies that have published full
annual reports for the 2013 financial
year and are still trading on the bourse
on the adjudication date are eligible for
the ZSE-listed companies awards. •

7. BH24

8. ByLynnMurahwa
The corporate world and public sector
must play a role in achieving the Mil-
lennium Development Goals (MDGs)
through the construction and develop-
ment of relevant infrastructure in the
education system Government author-
ities have said.
Speaking at a beneficiary handover of
a newly constructed early childhood
development (ECD) building in Avon-
dalethismorning,MinistryofEducation
actingdeputydirectorofsecondaryand
non-formal colleges Valerio Mukova
said the ministry is entreating the cor-
porate world to aid in the construction
of school infrastructure to fulfill MDGs.
“We are encouraging the corporate
worldandprivatesectortocomeinand
assist the construction of good schools
and infrastructure to draw us closer to
achieving the Millennium Development
Goals,” he said.
He added that because the current
economic atmosphere is not in their
favour the ministry recognises that
reaching out to the private sector as
well as leading by example is the best
way to bring the private sector invest-
ment on projects.
“The best way that we can bring in
and engage private investors in such
projects is to reach out to the private
sector as well as to lead by example.
The economy is not on our side so we
need everyone to contribute whatever
little they have, we will build one brick
at a time” he said.
Ministry of Local Government, Public
Works and National Housing architect
Max Muzondori said currently there are
more than 70 projects to develop the
educational infrastructure in Harare.
“We have many projects that we are
embarking on, right now there are
more than 70 projects in the pipeline in
Hararetofurtherdevelopinfrastructure
in the education sector. •
8 NEWS
Private sector necessary in achieving MDGs

9. BH24

10. The equities market retreated 0.38
percent as eight counters traded in the
red, bringing the industrial index down
to close at 189.59 points.
SeedCo lost a cent to trade at 70 cents
whilePadengaeased0.90centstoclose
at8cents.FirstMutualwentdown0.80
cents to close at 5.70 cents and Cottco
shed 0.15 cents to 0.8 cents. Tea pro-
ducer Ariston and Meikles slipped 0.10
cents to close at 0.70 cents and 21.90
cents respectively.
Eight counters also traded positievly.
The losses were partially offset by
gains in Cafca which added 3 cents to
30 cents while Colcom and NMB both
traded a cent higher at 22 cents and
4.50 cents respectively. TA Holdings
was up 0.74 cents to close at 7 cents.
The mining index was flat at 61.32
points as Bindura, Falgold, Hwange
and Riozim maintained previous trad-
ing levels. — BH24 Reporter •
10 ZSE REVIEW
Equities dip, buck positive trend

11. In 2008 Zimbabwe recorded for-
eign direct investment (FDI) inflows
of $52 million, which increased to
$105 million in 2009.
FDI inflows into the country further
increased to $166 million in 2010,
and in 2011 they were up to $387
million.
Last year FDI inflows to Zimbabwe
improved marginally to $400 mil-
lion.
And the latest United Nations Con-
ference on Trade and Development
(UNCTAD)'s World Investment
Report 2014 shows that last year
Zimbabwe's investment figures
were flat at $400 million.
If Zimbabwe is to significantly
improve its FDI inflows then the
secret to success lies somewhere
within these statistics.
What did we do right as a country
in terms of policies in 2010 that
saw those FDI inflow figures dou-
bling that period? In 2010 the Gov-
ernment made concerted effort to
improve the investment climate,
firstly by re-structuring of the Zim-
babwe Investment Authority (ZIA)
and introducing a One Stop Shop.
The Government also promulgated
an Investment Promotion and Pro-
tection Bill
It also sought to conclude a number
of negotiated Bilateral Investment
Promotion and Protection Agree-
ments among other initiatives. It is
these initiatives that sent positive
signals to the foreign investor com-
munity, which resulted in positive
sentiment on their part.
The effect of this was an increase
in FDI inflows. Investor confidence
is such a key factor in attracting
investment, hence one may notice
that countries with worse prob-
lems than Zimbabwe still appear
as attractive prospects to foreign
investors. There is definite need for
Zimbabwean authorities to put in
place polices that are geared toward
investment promotion and liberali-
sation. Last year global FDI inflows
rose by 9 percent, the UNCTAD
report has shown. The main rea-
son for this rise, UNCTAD says, is a
noted rise in polices that pull FDI.
"In 2013, according to UNCTAD's
count, 59 countries and economies
adopted 87 policy measures affect-
ing foreign investment. Of these
measures, 61 related to liberaliza-
tion, promotion and facilitation of
investment, while 23 introduced
new restrictions or regulations
on investment," reads part of the
report. Clearly there is a correlation
between positive investment attrac-
tion policies and the level of FDI that
a country can/will attract.
UNCTAD offers a number of sugges-
tions on how countries can develop
effective FDI attraction polices:
"Governments should (also) follow
a number of good practices: (i) The
rationale for investment incentives
should derive explicitly from the
country's development strategy,
and their effectiveness should be
fully assessed before adoption. (ii)
Incentives for specific industries
should aim to ensure self-sustained
viability so as to avoid subsidizing
non-viable industries at the expense
of the economy as a whole. (iv) All
incentives should be granted on the
basis of pre-determined, objective,
clear and transparent criteria..." are
among some of the suggestions.
Zimbabwe should take heed. •
11 BH24 COMMENT
Strong correlation exists between good polices and FDI inflows

12. BH24

13. Thousands of South African mine
workers returned to the Marikana
operations of platinum producer
Lonmin (LMI.L) on Wednesday after
wage deals were signed on Tuesday
to end a five-month strike, the long-
est and most damaging in the coun-
try's history.
The workers, some wrapped in blan-
kets to ward off the chill of the winter
morning, lined up outside the gates
of Marikana's process division. They
are to undergo medical and other
checks before they descend the
shafts to reboot production. Workers
also returned to mines operated by
Anglo American Platinum (AMSJ.J),
which were affected as well by the
strike by the Association of Minework-
ers and Construction Union (AMCU),
a shop steward with the union told
Reuters. They were also expected to
come back to mines run by Impala
Platinum (IMPJ.J). "We are back to
work, it's good," said one miner as he
walked up a gravel road to take his
place in the growing line.
It will take months to get back to full
production as the process of bring-
ing the mines back to life, which will
include extensive safety checks, will
take some time after the prolonged
stoppage, which cost the companies
over 24 billion rand ($2.25 billion) in
lost revenue.
As it embarked on the strike in Jan-
uary under the populist battle cry of
a "living wage", AMCU had initially
demanded that basic wages of min-
ers be more than doubled immedi-
ately to 12,500 rand a month.
In the end, its members settled for
increases that amounted to up to
around 20 percent annually.($1 =
10.5564 South African Rand) ― Reu-
ters •
13 REGIONAL News
South Africa miners return to work as five-month platinum strike ends
enjoy the CAIO ride!

14. 14 DIARY OF EVENTS
The black arrow indicate level of load shedding across the country.
POWER GENERATION STATS
Gen Station
25 June 2014
Energy
(Megawatts)
Hwange 575 MW
Kariba 750 MW
Harare 45 MW
Munyati 31 MW
Bulawayo -- MW
Imports 170 MW
Total 1571 MW
26 June - Pioneer 44th Annual
General Meeting of Sharehold-
ers, Venue: Pioneer Corporation
Africa Limited Boardroom, Corner
Hood/Hermes Roads, Southerton,
Harare, Time: 10:00 hrs
26 June - Masimba Holdings
Limited Thirty-Ninth Annual
General Meeting of Mem-
bers for the period ended 31
December 2013, Place: 44 Til-
bury Road, Willowvale, Harare,
Zimbabwe, Time: 12:00
30 June - TA Holdings 79th
Annual General Meeting of the
ordinary members Venue: Miti
Room, Sango Conference Centre,
Cresta Lodge, Harare, Time: 1400
hours
30 June - ZIMRE 16th Annual
General Meeting of members,
Venue: NICOZDIAMOND Audito-
rium, 7th Floor Insurance Centre,
30 Samora Machel Avenue, Time:
1230 hours
THE BH24 DIARY

15. BH24

16. 16 zse
ZSE
Movers CHANGE Today Price USc SHAKERS Change TODAY Price USc
NMBZ 28.57% 4.50 Cottco -15.78% 0.80
Willdale 25.00% 0.10 Ariston -12.50% 0.70
TA 11.82% 7.00 First Mutual -12.30% 5.70
Cafca 11.11% 30.00 Padenga -10.11% 8.00
Colcom 4.76% 22.00 ZPI -5.55% 0.85
Dawn 4.21% 0.99 NicozDiamond -3.84% 1.25
Dairibord 3.00% 10.30 SeedCo -1.40% 70.00
Turnall 0.33% 3.02 Meikles -0.45% 21.90
Indices
Index Previous Today Move Change
Industrial 190.31 189.59 -0.72 points -0.38%
Mining 61.32 61.32 +0.00 points +0.00%
Stocks Exchange
Previous

17. 17 AFRICA StockS
Botswana 8,664.65 -11.96 -0.14% 12July
Cote dIvoire 246.37 +2.18 +0.89% 07Mar
Egypt 7,949.60 -75.68 -0.94% 06Mar
Ghana 2,356.80 +2.31 +0.10% 20June
Kenya 4,825.52 +28.10 +0.59% 20June
Malawi 12,662.47 +0.00 +0.00% 07Mar
Mauritius 2,074.51 -3.51 -0.17% 07Mar
Morocco 9,544.10 +21.01 +0.22% 07Mar
Nigeria 41,129.29 +60.36 +0.15% 20June
Rwanda 131.27 +0.00 +0.00% 24Oct
Tanzania 2,018.97 +25.40 +1.27% 07Mar
Tunisia 4,624.39 -39.32 -0.84% 07Mar
Uganda 1,503.90 +0.81 +0.05% 10Sep
Zambia 4,242.74 +14.95 +0.35% 10April
Zimbabwe 187.40 +2.54 +1.37% 20June
African stock round up Commodity Prices
Name Price
Crude Oil 1,300.91 -0.21%
Spot Gold USD/oz 1,292.63 -0.26%
Spot Silver USD/oz 19.38 -0.46%
Spot Platinum USD/oz 1,421.25 -0.33%
Spot Palladium USD/oz 798.50 -0.64%
LME Copper USD/t 6,770 -0.18%
LME Aluminium USD/t 1,780 -1.17%
LME Nickel USD/t 18,230 -1.73%
LME Lead USD/t 2,095 -1.41%
Quote of the day —"Our business
in life is not to get ahead
of others, but to get
ahead of ourselves."
― Zig Ziglar
Globalshareholder.com

18. BH24

19. Apple Inc. suppliers in China will begin
mass production of its largest iPhones
ever next month, according to people
familiar with the plans, as the smart-
phone maker faces increased compe-
tition.
Apple is ramping up on two bigger
devices, said the people, who asked
not to be identified because the plans
are private.
One model will have a 4.7-inch display,
compared to the 4-inch screen of the
current iPhone 5s, that may be availa-
ble to ship to retailers around Septem-
ber, said two of the people. A 5.5-inch
version is also being prepared for man-
ufacturing and may be available at the
same time, the people said.
Apple is getting ready for its annual
unveiling of new iPhones after rivals
including Samsung Electronics Co.
and HTC Corp. released smartphones
with displays that are as large as 5.7
inches. Consumers have been gravitat-
ing toward larger-screen devices -- in
China, 40 percent of mobile gadgets
based on Google Inc.’s Android operat-
ing system that were sold in 2014 had
display sizes of more than 5 inches,
according to an estimate from For-
rester Research.
Chief Executive Officer Tim Cook is
under pressure to reignite Apple’s sales
growth and the iPhone, which gener-
ates more than half of the company’s
annual revenue, remains his chief
weapon. Last year, the smartphone
produced $91 billion in revenue alone,
more than the total sales of Oracle
Corp., Yahoo! Inc., Facebook Inc. and
Twitter Inc. combined. Natalie Kerris,
a spokeswoman for Cupertino, Califor-
nia-based Apple, declined to comment.
Rounder, Thinner Apple shares fell less
than 1 percent to close at $90.28 in
New York, leaving them up 13 percent
this year.
The new iPhones will also be rounder
and thinner than previous models, said
one of the people. Production of the
5.5-inch model is more complicated
than the smaller version, resulting in
lower production efficiency that must
be overcome before manufacturing
volume can be increased, said the per-
son.
AppleisdevelopingnewiPhonedesigns
including bigger screens with curved
glass and enhanced sensors that can
detect different levels of pressure,
Bloomberg News reported in Novem-
ber.
Called 2.5-dimension glass, the mate-
rial lets manufacturers taper the edges
of the screen where the bezel meets
the frame of a smartphone.
Earlier this month, Apple also intro-
duced new features for the software
powering the iPhone and iPad in a bid
to add more functions and utility to the
devices.
The company’s new iOS 8 mobile soft-
ware has capabilities that enable peo-
ple to use the gadgets to monitor their
health and remotely control locks and
lights for their home. ― Bloomberg
•
19 INTERNATIONAL NEWS
Apple’s big iPhones said to start production next month

20. By Kizito Sikuka and Phyllis John-
son
The vision of southern Africa as an
emerging economy with infrastructure
that works coast-to-coast will be closer
to reality after the regional summit to
be hosted by Zimbabwe in August.
The momentum is building towards the
34th summit of the Southern African
Development Community (Sadc) when
the leaders of 15 member states will
meet in Victoria Falls with Zimbabwe’s
President Robert Mugabe chairing.
The summit is preceded by a meeting
of the Council of Ministers and pre-
paratory meetings of officials. A series
of key sectoral meetings are already
underway.
Tourism ministers from the region met
recently in Livingstone, Zambia during
the airlines Routes conference held at
Victoria Falls, and the infrastructure
ministers met on 20 June in Harare,
Zimbabwe.
While these meetings may seem rou-
tine, without resonance to a wider
community, the summit in Victoria Falls
promises to be a milestone for Sadc
and a life-changing event for southern
Africa.
The meeting of infrastructure minis-
ters held in Harare and chaired by the
Minister of Transport and Infrastructure
Development, Obert Mpofu, was a
game-changer for the region.
The meeting was opened by the Vice
President of Zimbabwe, Joice Mujuru,
who told the ministers that adequate
infrastructure is the “bedrock of eco-
nomic development in any economy”.
What’s in it for us who are not in these
meetingsandwhyshouldwebeexcited
about infrastructure development?
The short answer is that infrastructure
touches every aspect of our daily lives,
including transport, energy, informa-
tion technology, water, meteorology
and tourism.
These sectors impact on our daily lives
and how we go about our work and
play, in families, in communities and in
businesses.
The opportunities being unpacked
in this sector across a region that
stretches from Namibia to Mozam-
bique, and from South Africa all the
way to the United Republic of Tanzania
are almost as endless as the imagina-
20 Analysis
Sadc Summit 2014: Building a region coast-to-coast - strategy for economic transformation

21. 21 Analysis
tion.Imaginewhatyoucoulddoifthere
was a train from Windhoek to Beira, or
from Durban to Dar es Salaam, both
throughHarare,ofifyoucouldflydirect
to Maputo. Or if the roads were good
on those routes, or if the electricity and
water worked all the time in all of those
places?
When the infrastructure works, it lays
the basis for other opportunities, such
as a uni-visa to ease the movement of
visitors across borders, and one-stop
border posts to ease the passage of
goods -- or a Grand Free Trade Area of
26 countries stretching along the whole
of the eastern side of Africa from Egypt
to South Africa.
Already most Sadc member states
have removed visa requirements for
their own citizens to move more easily
across borders, and more even devel-
opment would keep more people and
skills at home, while generating a per-
spective that anywhere in the region is
“home”.
What the ministers were doing in
Harare, and what the Heads of State
and Government will be doing in
August, is to set clear plans towards
implementation of regional policy with
regard to infrastructure and related
priorities. The Infrastructure ministers
meeting approved the Sadc Declara-
tion on Regional Infrastructure Devel-
opment to present to the Sadc Council
of Ministers and then summit. This fol-
lows the Regional Infrastructure Master
Plan approved previously.
The declaration urges Sadc countries
to implement regional agreements
and protocols to facilitate development
of infrastructure, as well as create the
necessary conditions to attract invest-
ment and promote industrialisation
through strong regional infrastructure
projects, while encouraging the partici-
pation of the private sector in construc-
tion of dams, roads and other facilities.
Other key issues include the need to
collaborate with international cooperat-
ing partners, multilateral financial insti-
tutions such as the African Develop-
ment Bank, and the private sector and
other stakeholders to secure funding
fortheSadcinfrastructureprogramme.
Particular attention will also be put
on the transport needs of landlocked
Sadc countries such as Zimbabwe who
because of “their geo-political circum-
stances have special needs for trans-
port and transit services and bear high
costs for capacity and access to exter-
nal markets.”
The new Sadc Executive Secretary, Dr
Stergomena Lawrence Tax from Tan-
zania, is pleased with progress during
her first year in office, but always with
her eye on the many targets still to be
reached. At least seven priority areas
have been identified for implementa-
tion this year as southern Africa inten-
sifies efforts to deepen integration for
socio-economic development.
The priority areas were adopted by the
Sadc Council of Ministers, which met in
March in Lilongwe, Malawi. The minis-
ters agreed to intensify efforts towards
finalising the review of the Regional
Indicative Strategic Development Plan
(RISDP) and consolidation of the Sadc
Free Trade Area launched in 2008.
Other key priorities are conclusion
of negotiations to establish a single
market covering 26 countries in east-
ern and southern Africa; fast-tracking
implementation of the Regional Infra-
structure Development Master Plan;
strengthening measures to improve
food security; and implementation of
the HIV and Aids cross-border initia-
tives. The seventh priority is on peace
building and consolidation of demo-
cratic practices in the region. The Sadc
Council of Ministers that oversees the
functioning and development of Sadc is
made up of ministers of Foreign Affairs,
Economic Planning or Finance from the
15 Member States. Zimbabwe will also
chair Council for the coming year.
The theme of the 2014 Summit on
17-18 August is “Sadc Strategy for
Economic Transformation: Leverag-
ing the Region’s Diverse Resources
for Sustainable Economic and Social
Development”.
Zimbabwe is well prepared for the
event and for chairing Sadc for the
next year. The Ministry of Foreign
Affairs started preparations last year,
and the President’s office has estab-
lished a National Steering Committee
chaired by the Deputy Chief Secretary
to the President and Cabinet, Dr. Ray
Ndhlukula.
The regional economic communi-
ties such as Sadc are building blocks
towards an African economic commu-
nity, and by early next year when Zim-
babwe also becomes the chair of the
African Union. - sardc.net •