The SADC region is losing millions of dollars per year from unprocessed exports with calls for the member states to urgently consider implementation of value addition policies.
The SADC Industrialisation Week being held in Johannesburg, South Africa, has seen captains of industry and commerce bemoaning the continued reliance on primary commodity exports.
While the region boasts of vast resources, failure to process them into finished goods has resulted in massive revenue losses for the trading bloc.
Statistics compiled by SADC show the region is being prejudiced of millions of dollars with experts calling for an urgent implementation of the SADC Industrialisation Strategy.
The SADC Industrialisation Strategy and Roadmap was approved in 2015 at focusing on effective policies that boost industrial capacities and socio-economic development.
The SADC extra-ordinary summit of the Heads of State and Government approved the Industrialisation Strategy and Roadmap during its meeting in Harare on April 29, 2015.
The Strategy is premised on the conviction that regional integration will promote industrialisation.
It recognizes that industrial policy and implementation will be largely undertaken at the national level and that its success depends on forging a compact for industry consisting of the government, the private sector, civil society, labour and the development partners.