Gaborone, Botswana – The Southern African Development Community (SADC) Executive Secretary, Elias Magosi, has urged the region’s development financiers to take decisive action in tackling economic inequalities and accelerating infrastructure investment across member states.
Speaking at the opening of the SADC Development Finance Institutions (DFIs) Chief Executive Officers’ Forum on Wednesday, Magosi warned that the region’s long-term goals would remain out of reach without bold financial decisions to support structural transformation.
The gathering, hosted in Gaborone under the theme “Bold Steps, Shared Future: Building the DFRC of Tomorrow,” drew senior government officials, regional financiers, and development partners.
Magosi told delegates the region’s combined economy, valued at US$720 billion, still faces a staggering annual investment shortfall of US$402 billion—particularly in sectors aligned with the Sustainable Development Goals (SDGs), including education, energy, infrastructure, and technology.
He called for accelerated reforms and targeted support towards regional financial institutions like the SADC Development Finance Resource Centre (DFRC), which he said must move beyond its advisory role to become a central driver of investment and regional integration under the bloc’s 2020–2030 strategic plan.
Magosi said the DFRC needs stronger institutional backing if it is to help governments reduce poverty, close inequality gaps, and reduce unemployment.
“Step up,” he urged DFI executives. “Join governments in confronting the region’s most stubborn challenges. Your resources and expertise can shift the development path of SADC countries.”
The forum, organised by the DFRC and its DFI network, continues to serve as a space for financial leaders across the SADC bloc to coordinate funding strategies and form regional partnerships aimed at inclusive economic growth.
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