Gaborone, Botswana; On 15th November 2024, the Southern African Development Community (SADC) Executive Secretary, His Excellency Mr. Elias M. Magosi, received a courtesy visit from Mr. Zwelibanzi Sapula, who is set to become the new Chief Executive Officer (CEO) of the SADC Development Finance Resource Centre (DFRC), accompanied by the outgoing CEO, Mr. Stuart Kufeni. The purpose of the meeting was to welcome the new CEO to the SADC organisation, bid farewell to the outgoing CEO, and discuss other areas of mutual interest.
H.E Magosi emphasised the importance of the SADC Development Finance Institutions (DFIs) Network facilitated by the DFRC, highlighting its pivotal role in advancing infrastructure development in alignment with the SADC Regional Infrastructure Development Master Plan.
He encouraged the DFRC to leverage its expertise in capacity building, policy research, and advisory services to continue facilitating the transformation of projects from conceptual ideas into viable, bankable projects. Additionally, he encouraged the DFRC to support the operationalisation of the SADC Regional Development Fund, enhancing assistance to the Project Preparation Development Facility (PPDF) Advisory and Oversight Committee, and aid SADC Member States in project identification, conceptualization and preparation.
Mr Sapula ensured DFRC’s readiness to collaborate with the SADC Secretariat by providing tools which will promote regional integration, enhance significant projects, drive infrastructure development, and strengthen cooperation.
He emphasised his commitment to guiding DFRC towards a new phase of growth and influence, building upon the successful collaboration with sister institutions in development finance, infrastructure programme design and regional integration.
Additionally, he outlined DFRC's mandate to facilitate resource mobilisation from the financial sector into key investment areas that support sustainable growth, employment generation, and poverty alleviation in alignment with the SADC Regional Indicative Strategic Development Plan (RISDP) 2020 - 2030.
The Executive Secretary further extended his gratitude to Mr. Kufeni for leading DFRC for nearly two decades, acknowledging the outstanding cooperation, collaboration and accomplishments over the previous years. He wished Mr. Kufeni success in his future endeavours and pledged full support and collaboration to the incoming CEO.
The SADC - DFIs Network, overseen by DFRC, is engaged in various sectoral projects across the SADC region, encompassing infrastructure, agribusiness, fisheries, trade finance, services, and other infrastructure initiatives.
DFRC, established by the SADC Council of Ministers in 2002 following the subsidiarity principle, serves as a SADC entity aiding the capacity building and initiatives of the SADC - DFIs, which presently includes 41 development finance institutions from 15 SADC countries.
