SADC pushes for speedy rollout of Regional Development Fund

Delegates have called on member states to fast-track the operationalisation of the Southern African Development Community (SADC) Regional Development Fund. The call came at the conclusion of the SADC Committee of Ministers of Finance and Investment meeting in Harare, Zimbabwe on Friday. The meeting brought together finance ministers, central bank governors, and senior treasury officials from across the region to discuss financial integration, macroeconomic convergence, and strategies to boost investment and sustainable economic growth. Zimbabwean Finance Minister Mthuli Ncube stressed that operationalising the fund would reduce the region’s reliance on external funding. “The fund remains one of the most important instruments for mobilising resources for regional infrastructure, industrial productivity, climate smart development, and cross-border trade. It is, therefore, appropriate that we continue to give this matter the attention and urgency and political guidance it deserves,” says Ncube. SADC Executive Secretary Elias Magosi urged member states to fast-track the ratification process. “I once again encourage member states to accelerate ratification processes, as continued delays risk slowing the operationalisation of the fund and consequently its ability to mobilise resources for regional infrastructure, the very industrialisation that we daily need and socioeconomic development,” says Magosi. RELATED VIDEO: SADC Kruger Retreat | Foreign Ministers focus on global geopolitics, security and regional stability