BY NELILE NXUMALO (INTERN)
NAIROBI– The Southern African Development Community (SADC) has intensified calls for reforms to the international financial system to improve Africa’s access to sustainable financing and strengthen the continent’s influence in global economic governance.
This emerged during the final day of the Africa Forward Summit 2026 held in Nairobi, on May 12, 2026, where the SADC Executive Secretary, Elias M. Magosi, participated in a High-Level Forum on the Reform of the International Financial Architecture. The discussions focused on advancing Africa’s development agenda through fairer financial systems and increased investment opportunities.
According to the Facebook page the , forum brought together African leaders, policymakers and development stakeholders to address challenges affecting the continent’s economic growth. Key issues discussed included debt vulnerabilities, the need to strengthen African-led financial institutions, mobilisation of domestic capital and increasing investment in infrastructure, industrialisation, climate resilience and economic transformation.
The SADC discussions aligned closely with priorities outlined in the SADC Regional Indicative Strategic Development Plan (RISDP) 2020–2030, which seeks to promote industrialisation, infrastructure development, regional integration, energy security and inclusive economic growth.
SADC emphasised that reforming the global financial system is critical for unlocking sustainable financing for regional infrastructure projects, trade facilitation, energy connectivity, climate adaptation and private sector development across Southern Africa. The organisation further noted that such reforms are necessary to address structural inequalities that continue to limit Africa’s development potential and access to global capital markets.
The summit also highlighted Africa’s growing determination to secure a stronger voice in shaping international financial policies that directly affect the continent’s future. Delegates stressed that equitable financing systems could accelerate economic opportunities, improve livelihoods and strengthen resilience against global economic shocks.
The Africa Forward Summit 2026 attracted heads of state, international organisations, business leaders and development partners from across the continent and beyond, all committed to advancing Africa’s prosperity through unity and strategic collaboration.
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(Courtesy Pic)
