MoU sets roll-out of SADC Model Law on public financial management |17 February 2024

SADC PF secretary general Boemo Sekgoma (Photo: Contributed)

The African Forum and Network on Debt and Development and the SADC Parliamentary Forum have signed a memorandum of understanding to partner in promoting sound financial and debt management policies in southern Africa and beyond.

In a joint statement, the African Forum and Network on Debt and Development (AFRODAD) and the SADC Parliamentary Forum (SADC PF) said the agreement, signed on February 12, 2024 formalises the collaboration of both organisations in influencing policy by providing technical support to African governments and parliaments to regain their political, economic, and social agency at a time when African countries are dealing with a multiplicity of crises.

SADC PF secretary general Boemo Sekgoma said of the agreement: “Today, effective financial governance of countries constitutes the bedrock of sustainable development and provides the conducive environment for the enjoyment of socio-economic human rights by citizens. In this regard, the forum welcomes its collaboration with AFRODAD under this forward-looking memorandum of understanding (MoU) to promote sound financial and debt management through parliamentary and other initiatives which will inter alia set the precepts for the development of a Model Law on Climate Action that is grounded in sustainable financial commitments by states to reduce carbon emissions.”

On his part, AFRODAD’s executive director Jason Rosario Braganza said: “This collaboration marks a significant step forward not only in enhancing our shared commitment to advancing responsible debt management and promoting robust financial systems but to deepen our partnership by bringing a technical and political economy perspective to the development of the Model Law on Climate Action. We look forward to merging our combined expertise which will empower parliaments and other key stakeholders to play a leading role in this critical endeavour."

The MoU signing marks a significant milestone in the ongoing fight for sustainable development and climate justice in Africa. Through collaborative efforts, the SADC Parliamentary Forum and AFRODAD aim to empower governments, engage citizens, and ensure that sound financial governance becomes a cornerstone for African governments.

AFRODAD is a Pan-African organisation committed to assisting the long-term development of the continent by promoting prudent debt and resource management, while also supporting the development of solutions to multiple intersecting crises.

The SADC Parliamentary Forum is a regional inter-parliamentary body composed of fifteen (15) parliaments representing over 3,500 parliamentarians in the SADC region, provides a platform for parliaments and parliamentarians to promote and improve regional integration in the SADC region, through parliamentary involvement.

Moses Magadza