May 15, 2023

SADC Committee of Central Bank Governors (CCBG) meets to review progress in the implementation of its Strategic Focus Areas.

The 56th meeting of the Committee of Central Bank Governors (CCBG) of the Southern African Development Community (SADC) was held in Luanda, Angola on 12th May 2023   to review progress in the implementation of the Committee’s Strategic Focus Areas of fostering financial integrity, enhancing financial inclusion, maintaining financial stability, promoting financial market integration and macroeconomic convergence (MEC). 

The Strategic Focus Areas of the SADC Committee of Central Bank Governors supports the objectives of the SADC Protocol on Finance and Investment within the mandates of central banks in SADC Member States. 

The meeting which was chaired by Mr Lesetja Kganyago, Governor of the South African Reserve Bank (SARB) in his capacity as the Chairperson of the SADC CCBG, was officially opened by His Excellency Mr. Manuel Nunes Júnior, Minister of State and Economic Coordination of the Republic of Angola.

In his opening remarks, H.E Mr. Júnior underscored the importance of the collaboration between Central Banks in the SADC region to further support effective implementation of the SADC Protocol on Finance and Investment which aims at achieving sustainable economic development and growth and eradication of poverty. He also reiterated Angola’s commitment to the implementation of the SADC regional integration agenda.

The SADC Executive Secretary His Excellency Mr Elias M. Magosi, who participated for the first time in the meeting of the SADC Committee of Central Bank Governors (CCBG),  emphasized that the Secretariat remains committed to support the work of the Committee, recognising the crucial importance of the Committee in advancing the regional integration agenda for the benefit of SADC citizens and to ensure that the SADC vision of poverty alleviation is achieved.

The CCBG was established by the SADC Committee of Ministers for Finance and Investment (COMFI) in July 1995 and approved by the SADC Council of Ministers in August 1995. Chapter 10 of the Finance and Investment Protocol (FIP) stipulates that the CCBG shall consist of central bank governors of each SADC Member State.