Online Reporter
Wallace Ruzvidzo
Herald Reporter
SADC and the African Development Bank have reaffirmed their commitment to collaboration on financing development priorities, the regional bloc has said.
In a communiqué yesterday, SADC said this reaffirmation was made on Wednesday during the meeting between the SADC Executive Secretary Mr Elias Magosi and the AfDB Director-General for Southern Africa Dr Kennedy Mbekeani.
The AfDB’s Director-General communicated the bank’s main priorities in line with the direction set by AfDB president Dr Sidi Ould Tah.
Dr Mbekeani also reaffirmed a AfDB’s strong dedication to advancing regional integration and development across the SADC region.
In particular, the Bank reiterated its focus on expanding infrastructure investment, promoting industrialisation, strengthening the role of the private sector, and deploying innovative and tailored financing approaches.
Collectively, these efforts are intended to help fast-track regional cooperation and unlock faster, more inclusive growth throughout the SADC region.
“The AfDB Director-General conveyed the Bank’s key priorities under the leadership of its President, His Excellency Dr Sidi Ould Tah, and reiterated the Bank’s commitment to supporting regional integration, infrastructure development, industrialisation, private sector participation, and innovative financing solutions to accelerate regional integration and development in the SADC region,” said SADC.
On his part, Mr Magosi thanked the AfDB for its enduring partnership with SADC, highlighting the Bank’s continued support in promoting regional integration and financing for development.
The Executive Secretary also specifically acknowledged the AfDB’s contribution to the operationalisation of the Regional Development Fund (RDF), underscoring its importance in strengthening implementation and impact.
“The SADC Executive Secretary expressed appreciation to the AfDB for the longstanding partnership between SADC and AfDB in advancing regional integration and development financing, particularly in the process of the operationalisation of the Regional Development Fund”.
“The Executive Secretary reiterated the importance of the RDF as a vehicle for sustainable financing of regional programmes.
“The two parties underscored the need to modernise border management systems, strengthen maritime connectivity and accelerate industrialisation to spur economic growth and development,” said the SADC Secretariat.
The Executive Secretary was accompanied by the regional body’s Director of Policy Planning and Resource Mobilisation, Dr Mike Masiye, Senior Finance and Investment Officer, Dr Mário Lironel, Programme Officer-Financial Sector, Mr Rado Harilala Razafindrakoto and Resource Mobilisation Officer, Mr Nations Msowoya.
Meanwhile, the regional bloc’s Finance Sub-Committee met on the same day to consider SADC’s finances, budget adjustments, and align resource allocation to implement its priorities for accelerating regional integration and development agenda.
The Finance Sub-Committee is a technical advisory committee that meets to review financial implications of SADC plans and programmes and adequacy of resource allocation for the Finance Committee for approval by the SADC Council of Ministers.
The Committee for the 2026/27 Financial Year comprises Eswatini, Lesotho, Madagascar, Malawi, Mauritius, Mozambique and Namibia.
It reviewed the status of Member States contributions, 2025/26 Annual Performance Report, progress report on implementation of regional programmes and projects, financial implications arising from recommendations of other SADC committees and structures, including the Human Resources and Administration Committee and the Ministerial Committee of the Organ.
The committee made recommendations regarding sustainable financing, improved programme delivery, resource allocation and resource mobilisation to accelerate delivery of the SADC agenda.
These recommendations will be submitted to the Finance Committee, comprising Members of the SADC Standing Committee of Senior Officials and subsequently, submitted for approval by the SADC Council of Ministers in August.
