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Wallace Ruzvidzo, Herald Reporter

ZIMBABWE will host a historic SADC-Arab Bank for Economic Development in Africa (BADEA) Investment Forum aimed at promoting cooperation between the two bodies, on the margins of the SADC Council of Ministers meeting and the 44th Heads of State and Government Summit next month.

The forum seeks to promote communication and visibility of the established cooperation between SADC and BADEA; serve as a platform for commemorating BADEA’s 50th anniversary since its establishment in November 1973 and showcase financial products of the Bank to SADC Member States.

It also aims to exhibit SADC regional priority infrastructure projects to mobilise resources to support the implementation of the RISDP 2020-2030;  present key milestones achieved in the context of implementing the SADC regional integration agenda, and notable contributions towards Agenda 2063; and define clear and specific actions that align with the priorities.

In a concept note, the SADC Secretariat said the forum was a follow-through on a Memorandum of Understanding (MoU) signed between the two bodies to cooperate in industry, transportation, infrastructure, construction, energy, water, health, trade, agriculture and investment, among other areas.

The basis for convening the Investment Forum is supported by Article 3.4 of the MoU, which commits both parties to jointly facilitate the holding of forums, seminars and exhibitions involving Parties’ stakeholders, including the private sector, for purposes of capacity building and sharing of technical expertise to address encountered challenges; sharing of investment opportunities; disseminating market information and opportunities; information gathering on new technologies and innovations useful for upgrading of the relevant sectors; and exchange of lessons and best practices, reads the concept note.

“Overall, SADC and BADEA clearly have shared overall goals and objectives.”

The SADC Secretariat spelt out the modalities for the holding of the forum.

“The high-level forum will be a one-day event that will be held on the morning of August 14, 2024 during the Council/Summit Sessions in Harare,  Zimbabwe. The afternoon will be for exhibitions only.

“The date is aligned with the programme of the August 2024 Council of Ministers Meeting during the morning used for the preparation of documents for the Council of Ministers. In this way, the participation of Ministers is prioritised and taken into consideration. This will facilitate high level participation from Member States at Ministerial Level as well as BADEA.

“The Investment Forum will take the form of a conference, in which the first part will consist of formal speeches, policy presentations and conference resolutions by SADC, BADEA and the SADC Business Council. The second part will be an exhibition, where delegates will tour exhibition booths/information stalls to access more practical information on regional priority projects, BADEA products and financing solutions and initiatives on private sector development,” said SADC.

Meanwhile, in a statement yesterday, Foreign Affairs and International Trade spokesperson, Mr Michael Chiwoneso Mukura, said a SADC Technical Assessment team was in the country for its third and final mission.

“During the visit, the Assessment Mission will engage with the Technical Committees responsible for the Summit preparations and finalise logistical and other relevant issues.

“The Mission will, also, seek an update on the country’s state of preparedness to host the SADC Industrialisation Week that will be convened from July 28 to August 2, 2024, at the Harare International Conference Centre (HICC),” he said.

Mr Mukura said Government would continue to work hand in glove with the SADC Secretariat to ensure all preparations are completed on time.

“His Excellency, President Dr Emmerson Dambudzo Mnangagwa will assume the Chairmanship of the SADC, taking over from the President of the Republic of Angola, His Excellency Joäo Lourenqo,” said the Foreign Affairs spokesperson.