DR ANGELO MONDLANE, DIRECTOR – PPRM, SADC, AT THE LAUNCH OF THE SADC DFRC OFFICES, 9^TH JUNE 2016

Director of Ceremonies,

The Guest of Honour, the Minister of Finance and Development Planning, Honourable Kenneth Matambo,

Honourable Ministers here present,

Your Excellencies, heads of Diplomatic Missions and International Organisations,

Chairperson of the SADC DFI Network, Mr Patrick Dlamini,

Chairperson of the DFRC Board of Trustees, Mrs Annie Vidot,

Senior Staff of the SADC Secretariat,

Senior Officials of SADC Governments,                                                        

Distinguished Guests,

Ladies and Gentleman,

It is a great honour for me to have this opportunity of sharing this occasion with you, at which we mark the continued progress of the DFRC as a critical contributor to the SADC region.

The purchase of a new office space by the DFRC demonstrates far reaching commitment to their institutional mandate, and also reflects the determination of the DFIs to reaffirm their development credentials at both the national and regional levels.

The SADC Secretariat welcomes the decision of the SAC DFI Network, through its DFRC, to secure and finance its own office space, and will continue to support the DFRC in its function as a subsidiary institution of the SADC.  After more than ten years of operation, this is a clear demonstration of a sense of permanence on the part of the DFRC and the DFI Network. We all now know they are here to stay.

Since its establishment in 2003, under the Finance and Investment Protocol of SADC, the DFRC and the Network have grown steadily contributing to the growth of development finance in the member states of SADC. At a strong 36 members and growing, the Network provides a strong sense of community among DFIs, and allows for an exchange of experiences amongst the DFIs and creates opportunity for cooperation and collaboration among and between the institutions in their core mandates.

The DFRC has also been an active participant in the work of the Secretariat to expand the reach of development finance through the creation of institutions such as the Project Preparation and Development facility (PPDF) and the Regional Development Fund (RDF), and the support to initiatives such as the financial inclusion programme.

The DFRC has also undertaken research on the status of development finance in the SADC region. This report which was presented to the SADC Ministers of Finance and Investment provides the DFIs, governments and other stakeholders vital information upon which policy can be built.

From the study report an action plan has been developed, encompassing, among other things, standardization, policy reform and regulation of DFIs. An important aspect of this, is the establishment of the prudential standards, guidelines and rating system (PSGRS) in collaboration with the Association of African DFIs. This provides a framework to guide DFIs in their operations in accordance with best practice, and enables them to evaluate their performance internally while providing a platform for peer reviews.

The DFRC and the DFI Network operate under the purview of the SADC Protocol of Finance and Investment Protocol, guided by the objectives of the Regional Indicative Strategic Development Plan and the Regional Industrialization Strategy. It is therefore pleasing to note that the DFRC’s Business Plan and Strategy have been aligned to reflect the respective objectives of these frameworks which are geared towards the realization of the SADC goals of regional development and integration. Thus, the operations of the DFIs through their DFRC remain relevant to the region’s agenda and this is commendable.

However, a lot is still to be done because the development challenges are immense, and the resource requirements quite massive. We are confident that the DFI Network and the DFRC will rise to the occasion in effectively supporting the countries and the region in pursuing and achieving development goals, including those embraced by the United Nations, under the Sustainable Development Goals programme (SDGs).

We therefore welcome the developments at the DFRC in setting up permanent facilities to support the Network. These are bold initiatives which allow us to look to the future with confidence, and to bring about important changes in the region.

I congratulate the DFI Network and the DFRC on this achievement. I look forward to you working closely with the rest of the SADC family in fulfilling our mission and goals.

Director of Ceremonies, Ladies and Gentlemen, our Guest of Honour needs no introduction. It is therefore my pleasure to call upon the Minister of Finance and Development Planning of the Republic of Botswana, Honourable Kenneth Matambo, to address us.

Thank you.