By Nathan Guma
CIVIL society organisation ActionAid has identified the ballooning regional debt as a potential drawback in meeting regional goals such as sustainable industrial development, trade integration, infrastructure development, and social and human capital development by 2030.
The goals are part of the SADC region’s Regional Indicative Strategic Development Plan 2020-2030 (RISDP), which seeks to deepen regional integration while fostering development.
Debt has been ballooning, with Treasury statistics showing that public debt grew to nearly US$21 billion as of the end of June from about US$17,7 billion as of September 2023.
However, these public debt figures have widely been disputed as some creditors noted that debt had reached US$21,2 billion at the end of last year.
ActionAid country director Joy Mabenge has said while there have been positive developments, RISDP goals are likely to be affected by deepening public debt and repeated climate-change-induced disasters.
“The generation of sufficient financial resources, as well as the socially accountable management and use of available resources, is also critical to meeting RISDP’s goals. While plans to finance the RISDP 2020-2030 include creating the Regional Development Fund (RDF), it has yet to be operationalised,” Mabenge said.
“We are also faced by deepening public debt, triggered by repeated climate-change induced disasters – such as the El Nino induced drought currently affecting Zimbabwe, Zambia and Malawi.
“This, alongside sustained inflation in fuel, fertiliser, and food prices following the Covid-19 pandemic and ongoing war in Ukraine, have led many of our countries to reprioritise budgets away from vital social services and even rely further on international aid and external credit.”
Mabenge also urged civic society to strengthen oversight roles to promote budget transparency, which is crucial to effectively promote social accountability.
“Social accountability is at the heart of good and effective governance, and the provision of gender-responsive public services – at all levels. Civil society understanding and participation in planning, budgeting, and oversight processes is also critically important at all levels – locally, nationally, and internationally,” he said.
“Recognising the linkages between each makes our work even more impactful and relevant.
Accountable public resource management is vital to ensuring consistent support for research and development in all industries, including the social sectors.
“Accessible, inclusive, and high-quality education, healthcare, and agricultural services support the creation and growth of livelihoods and entrepreneurial activities among the people of the Sadc region, reducing poverty and uplifting communities and nations.”
Mabenge said the generation of sufficient financial resources, as well as the socially accountable management and use of available resources, is also critical to meeting RISDP’s goals.
“We are extremely pleased to also recognise the efforts of the SADC Secretariat in providing even greater space for civil society in policy and decision-making processes,” he said.
“We applaud the approval of the SADC NSA Engagement Mechanism and look forward to participating in its piloting over the next year. We also celebrate SADC’s encouragement of its member states to create and strengthen and ensure the inclusivity of the important SADC National Committees.”
While there are plans to finance the RISDP through the creation of a Regional Development Fund (RDF), it has yet to be operationalised.
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