Speaking during the official opening of the 19th session of the Intergovernmental Committee of Experts, Mashakada said Africa was lagging behind technologically and tended to rely on outdated machinery in its industries, a factor that he said hampered economic growth.
The ICE is being held under the theme, “Industrialisation for Economic Transformation and Sustainable Development in Southern Africa:
Addressing the Gaps”.
Mashakada also bemoaned the lack of vibrant export mechanisms and strategies.
“The narrow export base exposes our economies to the commodity price shocks in the face of faltering world economic growth.
“These challenges call for the diversification of our sources of growth and the optimisation of the benefits from commodities exploitation and transformation,” he said.
The United Nations Economic Commission for Southern Africa Director, Beatrice Kiraso, also speaking at the same occasion, said Africa’s economic development was being hampered by policy inconsistencies.
“We need national policies that are consistent with the regional policies,” she said.
Kiraso said Africa must address infrastructural challenges to facilitate trade and market integration. “ In recognition of the vulnerability of individual African countries because of their geographical and demographical size, integration is the way to go.”
The conference, which commenced today, winds up on Friday.
It is being attended by SADC member states, delegates from intergovernmental organisations, regional economic communities, the private sector and civil society.
Zimbabwe is hosting the meeting for the first time.
Post published in: Africa News