MONDAY, 12.00PM:
A DEVELOPMENT fund for Southern Africa has been mooted by officials of the Southern African Development Community.
The proposal was made during a recent meeting of SADC’s finance and investment sector, which is led by South Africa’s Finance Department. There is a strong possibility that the World Bank will contribute to the proposed fund, which could provide cushioning from revenue lost after the introduction of the planned SADC free trade area.
The proposal follows increasing economic co-operation between SADC countries. Banks, stock exchanges and financial regulators from member countries are joining structured regional associations.
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