The Finance Sub-Committee of the Southern African Development Community (SADC) held its meeting in Gaborone, Botswana from 3 to 5 July 2018. The Finance Sub-Committee is a technical advisory committee that meets to clear documents for the Finance Committee for approval by the Council of Ministers.
The meeting was attended by five out of seven members of the Finance Sub-Committee, namely Angola, Botswana, Democratic Republic of Congo, Lesotho, and Zimbabwe, and was chaired by Democratic Republic of Congo.
The meeting received and reviewed the Secretariat’s 2017/18 Annual Performance Report and Expenditures; the 2018/19 Adjustment Budget; and Progress on the Implementation of the on-going SADC programmes.
The Committee noted that the SADC Secretariat achieved an overall financial performance of 71% on its implementation of the Corporate Plan for the 2017/18. This is an improvement compared to the 65% recorded in the previous financial year. The Secretariat however, recorded a slight decline of 1 percentage in its physical performance, at 79%, compared to 80% in the previous year.
The Committee further noted that the Secretariat successfully completed 79% of the 232 planned outputs contained in the Corporate Plan for 2017/18, and utilized 85% of the resources from Member States, and 57% of the resources from the International Cooperating Partner’s (ICP).
The meeting made recommendations to be considered by the Finance Committee and subsequent submission for approval by Council in August 2018.
