Southern Africa: Africa Aims At Catching Up With Asian Tigers

18 August 2014

Victoria Falls — The Sadc region, made up of 15 member states including Angola, Botswana, Democratic Republic of the Congo, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, Zambia and Zimbabwe, is home to an array of mineral resources with roughly the world's vanadium, platinum and diamonds originating from the region, along with an estimated 36 percent of gold and 20 percent of cobalt.

Despite being endowed with vast natural resources, the region remains severely underdeveloped and heavily relies on exportation of raw materials to prop up its economies, observers say. According to the AUC chairperson, to achieve a prosperous, integrated, people-centred Africa, the governments need to transform their economies, and use the continent's diversed resources through value addition and beneficiation.

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