SADC members come up with USD 42 billion-worth projects

July 8, 2012 Global Author

The fact was confirmed by the deputy executive secretary for Regional Integration, João Samuel Caholo.

Speaking to Angop on the sidelines of the meeting of senior officials of the Finance Ministers of SADC, the official said that the projects will be implemented within five years period.

According to the regional bloc secretary, the projects are linked to the fields of energy, transport, information technology, metrology, tourism and water resources.

Based on the protocol of finance and investment, the technicians will work for the achievement of tools and harmonised financial policies in terms of fiscal discipline.

Technically, he said, the members are working on the operating of the SADC development fund, which was scheduled to hold a meeting of Finance ministers of the community on Wednesday, but it did not happen due to the lack of quorum.

João Samuel Caholo also said that the member countries pay with regularity the respective fees excepting for Madagascar, due to political ground, but it has already expressed its availability to make contributions.

The official also hailed Angola’s presidency at the organisation, due to its commitment to the regional development issue.

Mozambique will host on 13 August the next meeting of minister of Finances of SADC.

Member states

Angola SADC has 15 member states, one of whose membership is currently suspended:

Botswana
Democratic Republic of the Congo – since 8 September 1997
Lesotho
Malawi
Mauritius – since 28 August 1995
Mozambique
Namibia – since 31 March 1990 (since independence)
Swaziland
Tanzania
Zambia
Zimbabwe
South Africa – since 30 August 1994
Seychelles – also previously been a member of SADC from 8 September 1997 until 1 July 2004 then joined again in 2008.