ZIMBABWE HOSTS SADC INDUSTRIALISATION WEEK AMID ECONOMIC TROUBLES

The Southern African Development Community (Sadc) Industrialisation Week will take place in Harare, Zimbabwe, from July 28 to August 2, 2024. This is a big event where leaders, businesses, and experts will talk about how to grow industries in the region. The event will bring together Sadc member states, private companies, banks, researchers, policymakers, and many others. They will share ideas and discuss ways to improve industries and grow economies in Southern Africa.

The theme for this year is about using innovation to create economic opportunities and achieve sustainable development. There will be meetings, seminars, workshops, exhibitions, and even site visits to factories in Zimbabwe. Key topics include mining, farming, making medicine, improving roads and energy, and helping young people and women in business. Another key issue will be how countries in Sadc can trade better under the African Continental Free Trade Area (AfCFTA).

Despite hosting this important event, Zimbabwe itself has been struggling with industry. Many companies have shut down, and the country’s economy has been in trouble for many years. Zimbabwe was once one of the most industrialised countries in Africa, second only to South Africa. But today, it is one of the poorest nations in the region. Many companies have left due to bad policies, corruption, and a tough business environment.

Since 2000, many big companies have shut down or moved out of Zimbabwe. Some of the well-known ones include Anglo American, Lonmin, BP, Shell, Rio Tinto, Deloitte, PwC, and Barclays. Even big airlines like British Airways and Lufthansa stopped operating in the country. The land reform program, indigenisation laws, and government policies have made it hard for businesses to survive. As a result, thousands of companies have closed, and millions of people have lost their jobs.

The country’s main industries—farming, mining, and manufacturing—have collapsed. This has forced many Zimbabweans to leave the country to look for work elsewhere. Others have turned to the informal sector, selling second-hand clothes and small goods in the streets. It is estimated that 90% of Zimbabweans do not have formal jobs.

One city that has been affected the most is Bulawayo, which was once the country’s industrial hub. Today, its factories have shut down, and many of the old industrial buildings have been turned into churches or storage spaces. The Belmont industrial area, which was full of manufacturing companies, is now mostly empty. This is a sign of how much the country has lost due to deindustrialisation.

Industrialisation is very important for economic growth. The United Nations Economic Commission for Africa says no country has successfully reduced poverty without industrialisation. But in Southern Africa, manufacturing is not contributing much to the economy. In 2018, manufacturing made up only 11.8% of the region’s GDP, and in some countries, it was even lower. Many countries still depend on raw materials instead of making finished goods.

There are still opportunities for industrial growth in Southern Africa. One of the main ways is by adding value to raw materials before selling them. For example, instead of exporting raw minerals, countries can process them into finished products. The same can be done in farming, where crops can be turned into processed food and other products. Another way to grow industries is by improving regional trade and making it easier for businesses to move goods across borders.

To make industrialisation work, countries need to invest in modern industries and create better policies. They need to improve roads, electricity, and water supply so that businesses can operate efficiently. There is also a need for better education and training in technology and business skills. Governments must also create policies that encourage exports and make it easier for businesses to grow.

As Zimbabwe hosts this important event, the country must look at its own situation and find ways to rebuild its industries. Hosting the Sadc Industrialisation Week gives Zimbabwe a chance to learn from other countries and take steps towards fixing its economy. The future of Zimbabwe’s industries depends on good policies, smart investments, and strong leadership. Industrialisation is the key to creating jobs and lifting people out of poverty, not only in Zimbabwe but in the whole Sadc region.