SANF 24 no 27 by SARDC Writers
Southern Africa is set to establish a regional fund to stimulate innovation, in a pivotal initiative designed to boost economic growth and accelerate the journey toward industrialisation.
The initiative was announced by the Executive Secretary of the Southern African Development Community (SADC), Elias Magosi, during the 7th SADC Public Lecture held in Harare in advance of the SADC summit, and aims to strengthen innovation and industrialisation through Science, Technology and Innovation (STI).
Magosi noted that SADC’s industrialisation agenda is moving at a slow pace and needs to be expedited by building a stronger research and development architecture supported by adequate funding.
“The SADC Secretariat is currently working on developing regional support programmes to bolster innovative ecosystems and startups, while also working on the development of a regional startup programme and the development of the Regional Innovation Fund as part of its priority projects,” Magosi said.
The purpose of the fund would be to strengthen innovation for sustainable development, especially through linkages between the public, private and academic sectors, which are key to driving the regional agenda for industrialisation.
He called for stronger integration of research capacity and innovative technologies into industrialisation projects across the 16 SADC member states, highlighting the vital role that universities must play as catalysts for meaningful industrial growth.
Magosi stressed that bridging the skills gap in STI is crucial for unlocking southern Africa’s economic and other potential.
He advocated for pro-innovation and pro-science policies aimed at overcoming regulatory and investment barriers to create an enabling environment, and he urged governments to prepare a robust ecosystem for innovation and technology, ensuring that new discoveries can reach the marketplace swiftly.
“Innovation can result in increased productivity, streamlining operations and enhancing existing processes,” he said.
SADC recognises the important role and contribution of STI to the economic and social development of the region. As a result, promotion of STI is one of the broad strategic objectives of the SADC regional integration and cooperation agenda.
A number of strategies have been identified by SADC to promote investment in STI.
These include implementation of the SADC Protocol on Science, Technology and Innovation which entered into force in 2022. Adopted by in 2008, the protocol aims to foster cooperation and promote the development, transfer and mastery of STI in member states.
A protocol “enters into force” following ratification by two-thirds of SADC Member States. This advances the regional law from being a stated intention to actual application.
Other strategies available to SADC member states as they harness the potential of STI in promoting industrialisation include establishment of collaborative regional research, development and innovation programmes in priority areas; setting up and strengthening regional centres of excellence as well as networks in priority areas of STI; and developing and strengthening regional STI capacities.
The SADC Public Lecture the President of Zimbabwe and incoming Chair of SADC, Emmerson Mnangagwa, was themed “Building Research Capacity and Innovation Ecosystems for a Sustainable Industrialised SADC Economy”, and underscored the immense potential of southern Africa to leverage its natural and human resources.
He called on the SADC region to “reimagine” its future by restructuring its education system and adopting research and innovation as cornerstones for regional development. sardc.net
