Antananarivo – The Southern African Development Community (SADC) requires US$625 billion to implement key projects outlined in its Regional Indicative Strategic Development Plan (RISDP). This was announced by SADC Executive Secretary Elias Magosi during the SADC Council of Ministers meeting in Antananarivo, Madagascar.
Magosi revealed that member states are expected to contribute US$89 million, while the remaining funding gap must come from development partners. He called on the region to show clear progress and the impact of joint efforts to unlock these financial resources.
Magosi also urged SADC countries to move away from reliance on exporting raw and unprocessed commodities. He pointed out that decades of exporting low-value goods have hindered sustainable growth, job creation, and full utilisation of natural resources across the region.
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