By Hilary Mare in Ongwediva
THE Southern African D e v e l o p m e n t Community (SADC) secretariat has recorded an operating surplus of US$11.8 million approximately N$166m million for 2015/2016 financial year, Clement Kanyama SADC director for budget and finance has said.
Speaking during the start of the recent 36th Ordinary SADC summit hosted by Swaziland, Kanyama reiterated that the SADC financial standing meant that King Mswati III, who will assume chairmanship of the organisation, will inherit a healthy organisation.
Kanyama said the recorded surplus showed an increase from 2014/2015 financial year, as the SADC secretariat recorded N$145 million (US$10.3 million).
Kanyama said 2015/2016 revenue was N$1.1 billion (US$78.6 million) and it was made up of N$727 million (US$51.6 million), from member states and N$380 million (US$27 million) from grants, which were recognised as contributions based on the SADC secretariat compliance with condition, as specified in each financing agreement.
“The total expenditure was N$941 million (US$66.8 million) and total assets under the control of SADC secretariat of N$1,4 billion (US$101.1 million),” he said.
He further said the 2015/16 financial year was the first year for SADC to operationalise the Regional Indicative Strategic Development Plan (RISDP), which was revised was the summit in April 2015. “The revised RISDP has front loaded implementation of industrialisation programmes and related actions to enable member states to benefit fully from the SADC Free Trade Area,” he said.
Kanyama further revealed that for 2016/2017 financial year, the SADC secretariat budgets provided N$599 million (US$42.578 million) from member states funds and N$463 million (US$32.990 million) from grants as availed by International Cooperation Partners.
“The SADC Council of Ministers will also consider proposals for revision of 2016/2017 budget of the SADCs. The 2016/2017 SADC secretariat budget and detailed activity plans continue to implement programmes, projects and action derived from the RISDP and Strategic Indicative Plan for the Organ (SIPO),” he said.
He said programmes under implementation included coordination of SIPO interventions in the area of politics, defence and security cooperation. It also includes programmes, projects and actions aimed at consolidation of SADC Free Trade Area within the community and enabling infrastructure.
“The Regional Industrialisation Strategy and Roadmap for 2015- 2063 has been developed. Implementation processes are now underway and the operationalisation of the Regional Agricultural Policy (RAP) as well as programmes, projects and actions in the area of health, HIV and AIDS, education and skills development, and labour and employment and gender and development,” he said.
Currently SADC has a membership of 15 member states, namely; Angola, Botswana, Democratic Republic of Congo (DRC), Lesotho, Madagascar, Malawi, Mauritius, Mozambique, Namibia, Seychelles, South Africa, Swaziland, United Republic of Tanzania, Zambia and Zimbabwe.
-Additional reporting by Swazi Observer
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