About Us: Page 3 of 5

building are funded from donor sources. Overtime, the DFRC would like to strengthen its capacity to generate own resources and reduce dependency on subscriptions and donor support.



Board of Trustees

The Board of Trustees consists of seven members elected on a rotational basis by Country and by DFI. The trustees are appointed for a term of two years and the current Board listed below has been in place since November 2010.

Ms Maria Nthebolan – Board Chairman                  

Ms Nthebolan, Managing Director, Botswana Development Corporation, was elected to the Board in November 2009,

and appointed Board Chair in February 2010.


Ms Neo Sowazi - Deputy Chairman

Ms Sowazi, Group Executive - Marketing and Corporate Affairs, Industrial Development Corporation of South Africa, was elected to the Board in November 2009, 

and appointed Deputy Chair in February 2011. 


Mr Adolfo Muholove

Mr Muholove, Director of Development Programs and Microfinance for GAPI/SARL, was elected to the Board in November 2010.


Dr Vincent Mhlanga 

Dr Mhlanga, Managing Director for Swaziland Industrial Development Company, replaced Dr Gina on the Board, since July 2011.


Mr Vinson Hailulu

Mr Hailulu, Chief Executive Officer, National Housing Enterprise, Namibia, was elected to the Board in November 2010.


Mr Gideon Nasari

Mr Nasari, Managing Director for National Development Corporation, Tanzania, was elected to the Board in November 2010.


Mr Hurrydeo Bissessur – Ex-officio Member

Mr Bissessur, Managing Director, Development Bank of Mauritius, was elected to the Board in November 2011, as ex-officio member.

Mr Bissessur is the SADC DFI Subcommittee Chairman appointed in November 2010.


Ms Boitumelo Gofhamodimo – Ex-officio Member

Ms Gofhamodimo, Director for Trade Industry and Finance and Investment, SADC Secretariat, was elected to the Board in November 2009,

as ex-officio member.




The SADC-DFRC was established under the Principle of Subsidiarity, as approved by the SADC Council of Ministers meeting of October 2002 in Luanda, Angola. Subsidiarity was adopted by SADC member states as one of the Community’s core principles essential for facilitating delivery on SADC’s Common Agenda. By definition, the adoption of the principle of subsidiarity means that:

“….all programmes and activities should be undertaken at levels where they can best be handled based on consultations between governments and relevant stakeholders. The involvement of institutions, authorities, and agencies outside SADC structures to initiate and implement regional programmes using their own generated resources should be promoted and encouraged.”

The founding MOU establishing the Network and the amending addendum are incorporated into the Finance and Investment Protocol of SADC. Following its adoption by SADC Member States, the Protocol transformed the DFI Network and the DFRC (as well as the Fund once established) into full-fledged Treaty-based