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Mr. Charles Singili Appointed Chairman of SADC Development Finance Institutions Subcommittee

The Secretariat of SADC - DFI Networks has appointed the Managing Director of TIB Development Bank, Mr. Charles Singili as the new Chairman of SADC Development Finance Institution (DFI) subcommittee.  Mr. Singili will hold the position for period of two years effective December 2018. As a Chair of SADC DFI Subcommittee, Mr. Singili also becomes an ex officio member of the Board of Trustees of SADC Development Finance Resource Centre (DFRC).

SADC DFI Network and DFRC were established by a decision of the SADC Concil of Ministers in 2002 and has since been operating under the SADC Finance and Investment Protocol. Membership of the DFI Network is opne to all DFIs operating in the SADC region. TIB Development Bank is among the founding members of the SADC DFI Network which boasts of 41 members to date.

During his two years tenure as Chair of the DFI Network, Mr. Singili will work with other DFIs in the network to promote effective mobilization of resources by financial institutions in the SADC region. Resources mobilized are to be directed to investments in key areas with potential to stimulate economic growth, create employement and alleviate poverty in line with the SADC Regional Indicative Strategic Development Plan (RISDP).