Tokelo Khausela
SEVERAL development financial institutions (DFIs) from regional countries were in Maseru this week to discuss how best they can push their mandates to foster economic development in their respective jurisdictions as well as across the region.
The DFIs were hosted by the Lesotho National Development Corporation (LNDC)) at a seminar themed “Stronger Together” at ‘Manthabiseng Convention Centre in Maseru at the weekend.
DFIs from Botswana, Swaziland and South Africa were in attendance. They discussed and shared ideas about how best they could best mobilise resources for national economic development.
The LNDC’s General Manager for Development Finance, Marina Bizabani, said the purpose of the DIFs was to provide risk capital for key national development projects. She said the DFIs needed to continuously innovate around mobilization of funds for development to secure the right credit facilities for the correct infrastructure types. The DFIs were tasked with funding national infrastructure projects that other financiers tended to shy away from on account of their narrow mandates.
The weekend engagement among the DFIs was an opportunity to examine whether the funds they deployed were also being utilised properly and optimally where they were most needed to catalyse development on women, youth and justice issues.
Botswana Development Corporation Head of Corporate Affairs and Strategy, Boitshwarelo Lebang-Kgetsi, said as “Botswana’s investment arm” they were keen to lead the country’s drive to diversify from the core diamond mining sector into other sectors. That in itself was a big challenge requiring a lot of resources. But the BDC was able to help achieve it because of its profitability profile.
Participants at the seminar agreed that the DFIs played a critical role in promoting integrated sustainable development.
National Development Bank of Botswana Manager, Onalenna Babusi, urged more collaboration among DIFs.
“Fellow DIFs need to collaborate to address and achieve their goals,” Mr Babusi said.
“We are already in talks with the LNDC on what we can learn from each other in terms of risks, credit, policies, and regulations, among other things,” Mr Babusi said.
