SADC Ministers, Governors Call for Increased Financial Investment and Policy Reforms
SADC Ministers and Governors urge increased investment and policy reforms to achieve economic stability and resilience in the region.
KINSHASA, DEMOCRATIC REPUBLIC OF CONGO — The Southern Africa Development Community (SADC) Ministers of Finance and Investment and Governors of Central Banks have gathered in Kinshasa to discuss ways to stimulate economic growth and build economic resilience in the region, writes Winston Mwale.
During the meeting held on July 20, 2023, the Ministers and Governors reviewed the progress made by the SADC Member States in implementing the SADC Macroeconomic Convergence Programme and the recommendations from their previous meetings.
The focus was on structural and policy reforms aimed at achieving economic stability.
In addition to discussing the risks and opportunities to the region's economic outlook, the participants devised policy measures to mitigate these risks.
Nicolas Kazadi Kadima-Nzuji, Minister of Finance of the Democratic Republic of Congo and Chairperson of the Committee of Ministers of Finance and Investment and Central Bank Governors emphasised the importance of adhering to fundamental economic principles for development in each SADC Member State.
Kadima-Nzuji also highlighted the need for SADC Member States to adopt prudent policy frameworks, promote the harmonisation of financial and investment policies, enhance government efficiency, and implement long-term financial regulations.
These measures aim to attract investment capital and contribute to the economic growth and stability of the region.
The SADC Ministers and Governors are committed to working together to further promote financial investment and portfolio diversification in order to achieve economic stability, stimulate growth, and build economic resilience across the region.