The biannual meeting of the Southern African Development Community (SADC) Development Finance Institutions (DFI) Subcommittee was held on 9th June 2023 at the Swakopmund Hotel and Entertainment Centre in Swakopmund, Namibia to review progress on the implementation of Annex 9 of the SADC Protocol on Finance and Investment.
The meeting was held in recognition of the role played by Development Finance Institutions in financing development in the SADC region and advancing productive capacity; in line with the objectives of SADC outlined in the Regional Indicative Strategic Development Plan (RISDP) 2020 – 2030.
The meeting was preceded by the Chief Executive Officers Forum on 8th June under the theme “Balancing DFI developmental mandate with sustainability”. The meeting was hosted by the Development Finance Institutions in Namibia, namely: Agribank of Namibia, Development Bank of Namibia, Environmental Investment Fund of Namibia and the National Housing Enterprise, under the auspices of the SADC Development Finance Resource Centre (SADC-DFRC).
The SADC Development Finance Institutions (DFI) Network meetings provided a platform to assess and understand the evolution of DFIs and the role they play in delivering on the SADC Common Agenda as well as fulfilling the sustainable development goals (SDGs), while remaining sustainable and self-reliant as State Owned Enterprises. Discussions during the Forum highlighted the importance of sound practices on corporate governance, regulation and supervision, risk management and monitoring and evaluation of DFIs to ensure sustainability and success.
In her opening remarks, Honourable Mrs. Hinda-Mbuende Deputy Minister of Finance and Public Enterprises of the Republic of Namibia pointed out the economic downturn and challenges, recent global COVID-19 Pandemic and international geo-politics that have negatively impacted the SADC integrated development agenda which created and continues to create challenges for respective Member States, in terms of providing critical support to DFIs.
Hon. Hinda-Mbuende appealed for a greater consideration and action required by DFIs in terms of innovative, agile and strategic alignment amongst others with the likes of other development partners, financial technology (Fintech) and green climate finance mechanisms, to strengthen the balancing act while executing the development mandate.
Welcoming the delegates, Ms. Subsonic Kauari, Chief Regional Officer representing the Governor of the Erongo Region, Honourable Neville Andre, underscored the economic significance of the Erongo Region not only to Namibia but to the entire Southern African region and beyond due to the predominance of the key following sectors: mining, tourism, manufacturing, transport, and logistics.
One of the highlights of the SADC DFI Subcommittee Meeting was the welcoming of the NBM Development Bank Limited in Malawi as a new member of the DFI Network.
This year SADC DFRC celebrates its twentieth anniversary since it was established in 2000 in recognition of its achievements and contributions to the SADC regional development goals of sustainable economic development, employment generation and poverty alleviation. The DFRC and the Namibian Development Finance Institutions members of the SADC DFI Network kicked off the celebration of the SADC DFRC twentieth anniversary on the evening of 8th June 2023 with the launch which was presided over by Hon. Mrs. Maureen Hinda-Mbuende
The SADC Development Finance Institutions Network was established by the SADC Council of Ministers in 2002 and draws its mandate from Annex 9 of the SADC Protocol on Finance and Investment. The SADC DFI Network membership currently comprises 41 Development Finance Institutions from 15 SADC Member States.
The SADC Development Finance Resource Centre is a subsidiarity institution of SADC established under the SADC Protocol on Finance and Investment. It is collectively owned by the SADC Development Finance Institutions Network.
