Policy consistence hindering economic growth in Africa -Msiska

Secretary to the Cabinet Rowland Msiska has observed that Africa has lagged behind in improving its economy due to lack of policy consistence.

Speaking in Lusaka at a SADC regional meeting of member States and Sector Experts on Copper Beneficiation, Energy Storage, Batteries and Mining Goods and Services Value Chains, Dr. Msiska says this is because the region has concentrated on competing on what he termed as wrong things.

He has also bemoaned that most member states are not anywhere near the 7 percent real annual Gross Domestic Product growth.

Dr. Msiska says even though the region has witnessed a significant improvement in the growth of the manufacturing industry, valued added to the social-economic transformation remains largely stunted.

Dr. Msiska has also noted the significant growth in the demand for batteries, primarily derived from the electric vehicle revolution for which the raw materials are cobalt and Lithium.

He has since called on the participants to draft a roadmap and action plan towards supporting regional value chain projects and overall value chain development in the copper, energy and battery storage as well as mining goods and services value chains.

Speaking at the same meeting, Ministry of Commerce, Industry and Trade Permanent Secretary Kayula Siame says there is need for regional commitment to developing a well linked industrial base built on value addition to the readily available resources, while tapping into the international investor communities for the appropriate technologies and markets for finished goods.