Financials forum to mobilise resources for development

Fillemon Nangonya

Namibia’s development financial institutions (DFIs) will help to mobilise resources for development initiatives in the Southern African Development Community (SADC).

The institutions, comprising Agribank, the Development Bank of Namibia, the Environmental Investment Fund of Namibia, and the National Housing Enterprise, will host the 2023 SADC-DFI network forum under the SADC Development Finance Resource Centre (SADC-DFRC).

According to a statement issued by Agribank spokesperson Fillemon Nangonya, the engagements are scheduled to take place from 6 to 9 June at Swakopmund under the theme ‘Balancing DFI Developmental Mandate with Sustainability’.

He says the DFRC employs a collaborative approach with external technical partners as a facilitator and catalyst to DFIs, SADC governments, and other key development stakeholders to promote the effective mobilisation of resources by the financial sector, in particular DFIs.

“These resources are for investment in key areas with the potential to stimulate growth, create employment and alleviate poverty, in line with SADC objectives under the Regional Indicative Strategic Development Plan (RISDP),” the statement says.

The objective of the meetings is to discuss and share experiences on how DFIs have been able to mobilise low-cost capital to meet their developmental mandates and close existing market gaps, particularly in sectors such as micro, small and medium enterprises (MSMEs) and infrastructure development, which have traditionally been shunned by commercial banks.

The forum will discuss resources available to DFIs on the domestic and international capital markets, nature, conditions of access and providers such as the Green Climate Fund among others.

The forum will also look into how DFIs have fared under different forms of regulations and governance structures, and how these impact their sustainability and what would be best practice in these areas.

“To address DFI sustainability and effective mandate execution, the forum will draw speakers from MFIs, ICPs, DFIs and regional organisations that focus on DFI regulation and governance, among others,” the statement says.

Panel discussions consisting largely of network member DFIs will constitute the main focus of the forum as this would present the opportunity to share information and experiences, as well as the adoption of emerging best practices.

According to the Agribank statement, the SADC DFRC will also celebrate its 20th anniversary at the meetings.

Stay informed with The Namibian – your source for credible journalism. Get in-depth reporting and opinions for only N$85 a month. Invest in journalism, invest in democracy –
Subscribe Now!

Latest News