SADC members states should inculcate core governance principles

02 Feb 2019 10:40am
WINDHEOK, 02 FEB (NAMPA)- It is imperative for Africans to manage regional economic communities’ corporations by inculcating core principles of corporate governance at all levels, President Hage Geingob has said.
Geingob was speaking during his visit to the SADC Secretariat Headquarters in Gaborone, in his capacity as Chairperson of the regional bloc.
He explained that once these principles are applied, SADC member states will successfully implement Regional Indicative Strategic Development Plan (RIS-DP), revised for the period 2015 to 2020, as well as the Strategic Indicative Plan of the Organ (SIPO) revised for the period 2016 to 2021.
He said sometimes member states take decisions and after failing to implement them, they move on to the next.
“Fairness, accountability, responsibility and transparency should constitute the DNA of our organisation. This is the only guarantor of future growth and the successful implementation of our developmental aspirations,” he stressed.
The SADC Leader further pointed out that it is time for the region to shift from its economically unfavourable position as an exporter of raw materials and start promoting value addition in order to become a competitive player in global markets and value chains.
SADC, he stated, has also prioritised industrialisation as a key driver for economic growth and poverty eradication due to its immense potential in job and wealth creation.
“It is my firm conviction that industrialisation offers untold benefits for the youth, and as such, SADC must continue to invest in industrialisation projects that would benefit our youths,” he said.
Geingob also noted that member states must further to recognise the potential that youth and technology offer in transforming the region.
“The only way to ensure that we excel in this new era of human development is through continuous capacity building, exchange of ideas, retraining and retooling,” he noted.
He said that in the absence of peace, security and stability, none of the aspirations will be achieved, therefore the region should continue to support member states experiencing political and security challenges in addition to the promoting the consolidation of democracy.
(NAMPA)
LD/EK/HP