Allexer Namundjembo
Only nine Southern African Development Community (SADC) member states have signed an agreement to establish and operationalise the SADC Development Fund, SADC executive secretary Elias Magosi has announced.
This means about 44% of the countries have not signed the agreement.
Speaking at the opening of the 45th SADC Summit in Antananarivo, Madagascar, Magosi said Angola and Zimbabwe remain the only countries to have deposited their ratification instruments, while Namibia is close to finalising the process.
He stressed that the fund is key to reducing dependence on external aid and achieving economic self-sufficiency.
“The SADC Development Fund continues to play a crucial role in our collective efforts to strengthen financial independence and build sustainable regional development,” Magosi said.
The fund is expected to provide member states with resources for infrastructure, industrialisation and other initiatives that drive regional integration.
Its origins date back more than two decades, with feasibility studies in the early 2000s leading to the creation of the Development Finance Resource Centre in 2003.
In March 2016, SADC’s ministers of finance and investment agreed to operationalise the fund in phases, beginning with project preparation. The agreement to establish the fund was adopted at the 39th SADC Summit in Tanzania in 2019.
SADC is made up of 16 member states, including Angola, Botswana, Comoros, the Democratic Republic of Congo, Eswatini, Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Tanzania, Zambia and Zimbabwe.
Delivering her maiden speech at the summit, President Netumbo Nandi-Ndaitwah reaffirmed Namibia’s commitment to SADC’s principles and called for action to address hunger, youth unemployment, and inequality.
“Our collective efforts must always aim to improve the living conditions of all our people across the SADC region in a tangible way and address the social challenges they face,” she said.
Nandi-Ndaitwah urged member states to add value to minerals before export, equip young people with skills, and invest in ICT, digital innovation, and creative industries.
On security, she voiced concern about instability in the eastern Democratic Republic of Congo (DRC) and called for stronger political will and collective action to restore peace.
She also paid tribute to the SADC Mission in the DRC, honouring soldiers who lost their lives.
She highlighted Namibia’s commitment to gender equality, pointing to the launch of the Namibia International Women’s Peace Centre and urging closer collaboration to advance women’s empowerment.
Nandi-Ndaitwah called on leaders to embrace the summit’s theme, “Advancing Industrialisation, Agricultural Transformation, and Energy Transition for a Resilient SADC”, as a guide for building a stronger region.
“Together, united in purpose and resolve, we can build a peaceful, prosperous, and self-reliant SADC, a region which we can all feel proud to call our home,” she said.
The 45th SADC Summit continues this week with discussions on regional integration, economic growth, food security, and peacebuilding.
