FINANCE MINISTERS FROM SOUTHER AFRICA MEETING IN JOHANNESBURG

JOHANNESBURG, Finance Ministers from member nations in the Southern African Development Community (SADC) met here Wednesday to discuss areas of co-operation and improving regional financial co-ordination.

The ministers, accompanied by the central bank governors from the region, discussed the strategy for financial inclusion and access to finance for small and medium-sized enterprises (SMEs); promoting inter-linkages with the global agendas of the BRICS grouping and the Group of 20 (G20); deepening regional integration within the finance and investment sector; the regional resource mobilization framework; and

exchange controls.

The meeting of the SADC Committee of Ministers of Finance and Investment was chaired by South African Finance Minister Nhlanhla Nene, the current Chair of the Committee and co-Chairperson of the SADC Macro-economic Peer Review Panel. South Africa is the current chair of SADC from August 2017 until August 2018.

The SADC Executive Secretary, Dr Stergomena Lawrence Tax, informed the Ministers that, through engagement with partners, the African Development Bank (AfDB) had agreed to support the operationalisation of the SADC Regional Development Fund and called on the Ministers to seize this opportunity to move the region forward with speed by signing and ratifying the agreement to operationalize the fund.

The SADC member states are Angola, Botswana, Democratic Republic of Congo, Eswatini, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, United Republic of Tanzania, Zambia and Zimbabwe.

Source: NAM NEWS NETWORK

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