SADC DEVELOPME T FI A CE RESOURCE CENTRE (DFRCl
CORPORATE GOVERNANCE WORKSHOP
FOR DEVELOPME T FINANCE INSTITUTIONS
HELD ON 16_19TH NOVEMBER 2015 AT ROYAL SWAZI SUN HOTEL IN
SWAZILAND

– The Representative of the CEO of SADC DFRC – Dr. Herrick Mpuku
– Our Esteemed Facilitators for the Workshop
– Senior DFI Executives Present here Today
– Distinguished international and local Board Members

  participating at this workshop.

1. It’s an honour and a privilege for me to have been invited to be part of the official opening ceremony for this very important training workshop in Corporate Governance.

2. I would like to pay a special tribute to the SADC DFRC Secretariat for choosing the Kingdom of Swaziland to be the host country for the workshop on this occasion, and bring to our shores the wealth of experience of the international SADC DFls participants.

3. May I also extend a warm welcome to all our visiting participants from the various countries.

4. I would like to commend the local DFls namely; FI CORP, SWAZIBANK and SIDC, for taking up membership in this very important SADC organ and their active participation. I am sure that these institutions have learnt a lot from this organ through information exchange and sharing of best practices in the DFT sector.

5. We all know that hosting such international training events brings about immense offspring benefits for the host country. I therefore encourage the visitors to take some time to experience the scenic beauty and hospitality of the Kingdom of Swaziland.

6. The SADC Region needs efficient and effective delivery of development initiatives at our respective economies, which can only be achieved if we get our Governance right.

7. In Swaziland we have seen mainstream commercial financial institutions slowly crowding in Development Finance. Investment Houses are also invading the development finance space; Pension Funds are encroaching into long term development finance; – the list is endless. As a result the sector is increasingly becoming highly competitive and requires that we begin to think outside the box hence the need for improved Governance.

8. I suspect that what is happening in Swaziland also obtains in the entire SADC Region where some of our course participants come from.

9. Development Finance is no longer a preserve for the Traditional Development Institutions instead there are now more players.

10. The greatest benefit of attending courses hosted under the SADC DFRC organ gives an opportunity for local and international participants to share experiences and enrich one another for the better. I therefore would like to encourage participants to engage in meaningful deliberations and robust debate in order to enhance the learning environment.

11. For DFls are to remain relevant, DFI staff have to up their game by keep abreast with new industry developments and innovations. I must say that “Development is a complex issue”. It is the transformation of the people’s ways of living and doing things for the better. Development involves changing people’s attitudes positively. Consequently DFls can only be effective if the Boards of Directors are also effective.

12. Government expectations from local OFIs In delivering development and this entails;

1. Mainstream their activities into the National Development Plans.
2. Drive Strategy
3. Ensure effective Enterprise Wide Risk Management.
4. Maintain high ethical and compliance standards.
5. Observe separation of responsibilities and get CEOs to be fully accountable.
6. Ensure efficient use of resources.
7. Ensure not just financial quantitative results but also qualitative impact.
8. Be innovative and make markets work for the poor; to name just to a few

In conclusion, may I wish all the participants fruitful discussions and a pleasant
stay in Swaziland.

Bheki S. Bhembe
Principal Secretary
Ministry of Finance