Wednesday, September 18, 2019
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Southern African bloc to reduce dependence on foreign funds

Dar es Salaam: The Southern African Development Community (SADC) wants to reduce its reliance on funding from foreign countries, the new head of the organization said on Sunday at the close of a two-day summit in Dar es Salaam, Tanzania.
“We need to improve our economy so as to improve our dependence,” Tanzanian President John Magufuli said.
Of the SADC’s budget of 74 million dollars for 2019-20, 31 million dollars will be provided by external donors.
Magufuli said the industrialization of the region would be his main priority during his term of office. He said it was unacceptable that a region so rich in resources should be considered poor. (DPA)

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