SADC and AfDB Sign Pact for Regional Economic Growth

The Southern African Development Community (SADC) and the African Development Bank (AfDB) signed a pact aimed at boosting regional transformation following a high-level meeting in Gaborone. The meeting involved SADC Executive Secretary Elias Magosi and AfDB Southern Africa Director General Kennedy Mbekeani.

They reviewed joint priorities related to regional integration, infrastructure financing, and economic transformation. The AfDB representative outlined the strategic vision under President Sidi Ould Tah, reaffirming the bank’s commitment to supporting regional integration projects, infrastructure development, industrialization, private sector engagement, and innovative financial mechanisms.

Elias Magosi commended the longstanding partnership between SADC and AfDB, particularly the bank’s support for the operationalization of the Regional Development Fund (RDF), which is essential for securing sustainable financing for SADC’s regional programs. Both institutions emphasized the urgent need to modernize border management systems, enhance maritime connectivity, and accelerate industrialization to foster economic growth and development across Southern Africa.