Online Reporter
Nqobile Bhebhe, Zimpapers Business Hub
Finance ministers from the Southern African Development Community (SADC) are scheduled to gather in Victoria Falls next week 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.
“The primary objective of these meetings is to consider progress updates on ongoing initiatives that support the development and integration of financial markets across the region,” the SADC Secretariat said in a statement.
The ministers will also deliberate on sustainable project preparation and development frameworks, while strengthening Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) measures—vital to maintaining the credibility and resilience of SADC’s financial systems.
“The Ministers of Finance and Investment will decide on crucial issues to advance financial markets integration and investments across the region,” the Secretariat added.
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.
Ahead of the ministerial meetings, SADC Senior Treasury Officials will convene on 9 June, followed by joint consultations with central bank representatives on 10 June.
The outcomes of these discussions are expected to chart a course for deeper regional cooperation and stronger, more integrated financial markets—key pillars for sustained economic growth and macroeconomic stability in Southern Africa.
Sidumisile Mabena