South Africa's Lamola warns geopolitical tensions threaten SADC economies
South Africa's Foreign Minister Ronald Lamola called on regional leaders to strengthen industrialisation, agriculture and energy systems to shield the region from rising geopolitical tensions and economic shocks, speaking at the opening of the Southern African Development Community (SADC) Council of Ministers meeting in Pretoria on Thursday.<br /><br />"The international system is marked by heightened geopolitical tensions, economic volatility, climate-induced shocks and disruption to global supply chains," he stated.<br /><br />He warned that heightened geopolitical tensions, climate shocks and disruptions to global supply chains were compounding economic pressures across the region.<br /><br />"The current geopolitical climate, including the United States's war on Iran and Iran's retaliation within the GCC countries, is already sending shockwaves through our society's threatening supply chains and energy shocks," he remarked.<br /><br />Beyond rising global oil prices, the foreign minister also cautioned that higher fertiliser costs could push up food prices and worsen food insecurity in many Southern African countries.<br /><br />"As a community, we will not emerge unscathed from this. Our public finances are likely to come under even greater strain, and it's our people who will bear the cost," he stressed.<br /><br />Lamola noted that there is also "a growing concern that the Gulf states may reassess overseas investments in infrastructure, critical minerals, energy and technology as their priorities shift towards internal defence and security considerations."<br /><br />The minister also said that the gathering would allow ministers to review progress on the Regional Indicative Strategic Development Plan (RISDP) and assess how the bloc can protect its economies.<br /><br />"This raises major questions for the council. What does it mean to pursue the vision of a resilient SADC in the face of these realities? What strategies can we use to insulate ourselves and protect our economies, and the more than 380 million people of our region from these shocks?" he asked.<br /><br />It comes amid regional escalation after the US and Israel launched a joint military operation against Iran on February 28. Tehran responded with missile and drone strikes on Israel and US facilities across the region, with explosions in several Gulf countries.<br /><br />The conflict drove up global energy prices and closed the Strait of Hormuz, which handles 20 percent of global oil traffic.<br /><br />Mandatory credit: South African Department of International Relations (Dirco)<br /><br />Follow us on:<br />WhatsApp cutt.ly/WhatsAppCFM<br />https://twitter.com/capitalfmkenya/<br />https://www.facebook.com/capitalfmkenya<br />https://www.instagram.com/capitalfmkenya<br /><br />Subscribe to Capital FM News for More: https://goo.gl/um4AGk<br /><br />98.4 Capital FM<br />93.0 Western Kenya<br />98.5 Nakuru and Nyeri<br />104.5 Malindi<br />102.7 Garissa<br />103.9 Meru<br />106.5 Kitui<br />104.9 Voi<br /><br />#CapitalFmKenya