Zim Now Writer
Finance ministers and central bank governors from the Southern African Development Community have gathered in Victoria Falls for critical discussions aimed at strengthening regional financial integration and enhancing economic convergence across member states.
The high-level meetings include the SADC Committee of Ministers of Finance and Investment and the Peer Review Panel, which will evaluate progress on various regional economic and financial initiatives.
A central focus of the agenda is the long-anticipated launch of the SADC Regional Development Fund. Once operational, the fund is expected to mobilise resources for strategic infrastructure projects across the region, a move seen as pivotal for sustainable development.
Beyond infrastructure financing, the ministers will also review the status of legal instruments and protocols, explore cross-border third-party motor vehicle insurance schemes, and assess the region’s participation in the Committee of Insurance, Securities, and Non-Banking Financial Authorities.
The Peer Review Panel will deliberate on macroeconomic developments in member states, with country reports for Angola, Zambia, and the Democratic Republic of Congo under review. The panel is also set to finalise the Macroeconomic Convergence Peer Review Mechanism and evaluate the outcomes of the 2024 Convergence Programme.
Amid growing global economic uncertainty, the meetings will also consider the impact of shifting geopolitical dynamics on SADC economies and explore strategies to bolster regional resilience.
Senior treasury and central bank officials are expected to adopt annotated agendas in preparation for Thursday’s ministerial meeting.
Thursday’s session will begin with an address by SADC Executive Secretary Mr Elias Magosi, followed by official opening remarks from Zimbabwe’s Minister of Finance, Economic Development, and Investment Promotion, Professor Mthuli Ncube.
A closed session will dominate the day’s proceedings, addressing sensitive financial and economic matters with long-term implications for regional fiscal collaboration.
The engagements will conclude on Friday with the Peer Review Panel meeting, an essential component of SADC’s economic governance framework. Discussions will continue in closed sessions, where member states’ adherence to convergence benchmarks will be reviewed. The afternoon will feature the formal adoption of records from both committees, followed by closing remarks by Minister Ncube.
The meetings are expected to reinforce SADC’s vision for deeper economic integration and sustainable growth across the region.
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