BY MFANUFIKILE KHATHWANE
EZULWINI – Southern Africa top central bank officials have gathered in Eswatini to strengthen regional cooperation in protecting the financial system against growing risks such as cyberattacks, financial instability and cross-border banking challenges.
The two-day SADC Committee of Central Bank Governors (CCBG) Banking Supervision and Financial Stability Meeting, which began Thursday July 30 to Friday 31,2026 at the Central Bank of Eswatini (CBE) Complex in Ezulwini, has brought together banking supervision and financial stability experts from central banks across the region.
Officially opening the meeting, Central Bank of Eswatini Governor Dr Phil Mnisi said the increasing interconnection of banking systems across Southern Africa made closer cooperation among regulators more important than ever.
“Our regional banking systems are increasingly interconnected through cross-border banking groups, integrated financial markets and shared financial infrastructure. This interconnectivity requires stronger regional collaboration through meaningful supervisory colleges, routine information sharing and early consultation before local issues escalate,” said Dr Mnisi.
He said while interconnected financial systems create opportunities for economic growth, they also allow financial shocks to spread rapidly across borders if countries fail to work together.
Dr Mnisi stressed that strong banking supervision and effective financial stability measures were essential to maintaining public confidence in the financial sector and supporting sustainable economic development across the region.
Chairperson of the SADC CCBG Banking Supervision and Financial Stability Subcommittee, Lyness Phiri Mambo, said the meeting comes at a time when financial systems are facing new and increasingly complex risks.
“As our financial systems become more interconnected and exposed to new risks, it is important that we continue to act with clarity, consistency and resolve,” she said.
She added that regional cooperation remains critical in safeguarding financial systems while ensuring banks continue to support economic growth and financial inclusion.
During the meeting, delegates will review progress made under the 2024–2026 CCBG Strategy, discuss regional financial stability assessments and crisis management frameworks, and explore ways of strengthening cybersecurity resilience as digital financial services continue to expand.
The meeting will also feature discussions on emerging technologies, information sharing among regulators and strategies to enhance banking supervision across the Southern African Development Community (SADC).
The gathering reflects the region’s commitment to building a stronger, safer and more resilient financial system capable of supporting businesses, investors and citizens across Southern Africa.
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