By Etienne Mainimo Mengnjo
The African Forum and Network on Debt and Development (AFRODAD) and The Southern African Development Community Parliamentary Forum (SADC PF), have signed a partnership agreement aimed at promoting sound financial and debt management policies across Africa.
The deal was sealed on February 12th in Harare, Zimbabwe. Jason Rosario Braganza, AFRODAD’s Executive Director, represented his institution, while Hon. Boemo Sekgoma, Secretary General of the SADC Parliamentary Forum, signed on behalf of his institution.
Regarding the agreement, Hon. Sekgom emphasized that effective financial governance of countries today is the cornerstone of sustainable development, creating a conducive environment for citizens to enjoy their socio-economic human rights.
“In this regard, the Forum welcomes its collaboration with AFRODAD under this forward-looking 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,” he said.
On his part, Rosario Braganza hailed the collaboration, emphasizing that it will help deepen the development of the Model Law on Climate Action by incorporating both technical and political economy perspectives.
“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,” he said.
The agreement 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. The SADC Model PFM Law lays the foundation towards attaining the ambitions of the Abuja Treaty in establishing an African Financial Architecture.
AFRODAD says the signing of this Memorandum of Understanding (MoU) is a significant milestone in advancing sustainable development and climate justice in Africa. Through joint efforts, the SADC Parliamentary Forum and AFRODAD aim to empower governments, engage citizens, and make sound financial governance a cornerstone for African governments, ultimately working towards making ‘Africa a Rule-Maker.’
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.
SADC Parliamentary Forum is a regional inter-parliamentary body composed of 15 parliaments representing over 3500 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.