Online Reporter
THE Southern African Development Community (SADC) Meetings of the Ministers of Finance and Investment, along with the Peer Review Panel, are meeting in Victoria Falls for pivotal discussions aimed at accelerating regional financial integration and driving economic convergence across member states.
The high-level engagements will bring together the Committee of Ministers of Finance and Investment, alongside the Peer Review Panel—comprising finance ministers and central bank governors—to assess progress on key regional initiatives.
Top of the agenda is the long-awaited operationalisation of the SADC Regional Development Fund, a key facility expected to unlock funding for strategic infrastructure development across the region.
In addition to infrastructure financing, the ministers will examine the status of SADC legal instruments and protocols, cross-border third-party motor vehicle insurance schemes, and the region’s participation in the Committee of Insurance, Securities, and Non-Banking Financial Authorities (CISNA).
The Peer Review Panel is expected to assess macroeconomic performance across member states, with peer review reports for Angola, Zambia, and the Democratic Republic of Congo on the table.
The panel will also finalise the Macroeconomic Convergence Peer Review Mechanism and evaluate the outcomes of the 2024 Convergence Programme, SADC added.
Further discussions will address the ripple effects of global geopolitical shifts on SADC economies, as the region seeks to fortify economic resilience amid a rapidly evolving international landscape.
Our reporter Rutendo Nyeve and chief photographer, Eliah Saushoma.
Senior officials set stage for SADC Finance Ministers’ meeting
Senior treasury officials and central bank officials from the SADC region are on Wednesday afternoon expected to adopt the annotated agendas for the Committee of Ministers of Finance and Investment and the SADC Peer Review Panel.
This will mark the end of the senior treasury and central bank officials meeting ahead of the Committee of Ministers of Finance and Investment meeting set for Thursday.
The discussions are aimed at fostering regional economic integration and sustainable development.
On Thursday, Mr Elias Magosi, SADC Executive Secretary, will deliver his remarks, followed by an address by Zimbabwe’s Minister of Finance, Economic Development, and Investment Promotion, Professor Mthuli Ncube, to mark the official opening of the meetings.
A closed session will dominate the morning agenda, focusing on sensitive regional financial matters, with outcomes expected to shape collaborative fiscal policies.
The meeting of Ministers of Finance will culminate with the Peer Review Panel Meeting on Friday, a cornerstone of SADC’s governance framework.
Closed sessions in the morning will evaluate member states’ adherence to regional economic benchmarks, with findings contributing to the bloc’s accountability mechanisms.
The afternoon will see the adoption of records from both the Ministers’ Committee and Peer Review Panel, followed by closing remarks by Minister Ncube.
SADC accelerates operationalisation of Regional Development Fund
The Southern African Development Community (SADC) Committee of Ministers of Finance and Investment is intensifying efforts to operationalise the SADC Regional Development Fund (RDF).
This Fund has been identified as a crucial mechanism to bridge financing gaps and reduce reliance on external funding.
In light of shifting geopolitical developments and decreasing international financial flows, this internal financial instrument is poised to transform Zimbabwe’s economic landscape and enhance regional integration.
Speaking during the official opening of the Committee of Ministers of Finance and Investment in Victoria Falls on Thursday, Professor Mthuli Ncube, Zimbabwe’s Minister of Finance, Economic Development, and Investment Promotion, emphasised the advancements made towards activating the Fund.
He reaffirmed Zimbabwe’s commitment to fast-tracking the ratification of the 2016 Agreement on the Fund’s operationalisation and urged fellow member states to do the same.
“The decision to operationalise the SADC Regional Development Fund as a standalone Special Purpose Vehicle with a permanent capital structure was endorsed by the Council of Ministers in March 2025,” said Prof Ncube, highlighting the importance of collective dedication to regional economic integration.
AfDB commits to supporting SADC’s Regional Development Fund
THE SADC region has made significant progress regarding the resource mobilisation efforts for the Regional Development Fund (RDF).
Speaking at the Committee of Ministers of Finance and Investment meeting, SADC Executive Secretary, Mr Elias Magosi reported on the progress made since the mandate given to the Secretariat in December 2024 to engage the African Development Bank (AfDB).
He revealed that the AfDB has committed to supporting the Fund’s initial phase, having submitted a Project Proposal Note to access 5 million Units of Account (approximately $6.5 million) under the Bank’s Transition Support Facility.
A second request for $10 million is planned for July 2025.
Mr Magosi also acknowledged the outgoing AfDB President, Dr Akinwumi Adesina, for his unwavering support and expressed optimism about ongoing collaboration with his successor, Dr Sidi Ould Tah.
“We are deeply appreciative of Dr Adesina’s gracious acceptance and unwavering support for the request from SADC Ministers of Finance and Investment,” he said.
The RDF embodies SADC’s ambition to shape its own economic destiny, representing a lifeline for Zimbabwe to address fiscal constraints and unlock new growth opportunities.
