Cabinet has expressed confidence in South Africa's readiness to successfully host the 46th Ordinary Summit of Heads of State and Government of the Southern African Development Community (SADC), scheduled to take place in August.
Briefing media on the outcomes of Cabinet meeting held on Wednesday, Minister in the Presidency Khumbudzo Ntshavheni said preparations for the regional summit are on track.
The SADC Summit will be held at the Inkosi Albert Luthuli International Convention Centre from 16 to 17 August 2026.
“As part of the SADC Summit build-up activities, South Africa is hosting the 2026 SADC Industrialisation Week from 27 to 31 July 2026... The event brings together policymakers, business leaders, investors, academics, researchers and development finance institutions from across the region and beyond to advance industrial development,” Ntshavheni said on Thursday.
The SADC Industrialisation Week supports the implementation of the SADC Industrialisation Strategy and Roadmap (2015–2063), which is anchored on three pillars, including industrialisation, competitiveness and regional integration.
This year's programme places emphasis on developing regional value chains in agro-processing, pharmaceuticals, consumer goods and critical minerals beneficiation, while also promoting investment in energy, transport, logistics, water and information and communication technology (ICT) infrastructure.
Reducing transaction costs within SADC
Cabinet also congratulated the South African Reserve Bank on the expansion of the SADC Real-Time Gross Settlement (SADC-RTGS) system with the inclusion of the Angolan Kwanza as the second settlement currency after the South African Rand.
Operated by the South African Reserve Bank on behalf of participating SADC central banks, the SADC-RTGS system aims to reduce transaction costs for cross border trade within the region by facilitating the utilisation of local currencies.
“The inclusion of the Angolan Kwanza as a settlement currency in the SADC-RTGS system marks a significant milestone in advancing regional economic growth through the reduction of transaction costs,” Ntshavheni said.
This development was announced on Monday by the South African Reserve Bank (SARB) Governor Lesetja Kganyago and Governor of the Banco Nacional de Angola, Manuel Tiago Dias.
“The Kwanza’s inclusion supports regional payments modernisation efforts and aligns with the Group of Twenty’s (G20) cross-border payment goals of reducing costs, increasing speed and improving efficiency in cross-border transactions,” SARB said in a statement.
The Angolan Kwanza is the second settlement currency to be introduced in the SADC-RTGS system, which has settled transactions exclusively in South African Rand since its inception in 2013.
The system has processed R250.7 billion worth of transactions per month since its introduction.
It is operated by the SARB, as appointed by the SADC Committee of Central Bank Governors. There are currently 15 countries participating in the SADC-RTGS system. - SAnews.gov.za
