AFC CEO nominated SADC-DFI Network chair
AFC Holdings Group chief executive officer, Francis Macheka has been nominated
chairman of the Southern African Development Community – Development Finance
Institutions (SADC-DFI) Network.
Mr Macheka was nominated to the post on Thursday and will occupy the position for the
next two years effective from the 1st of December 2022.
The SADC-DFI Network consists of development financial institutions drawn from across
the 15 SADC member states, including Zimbabwe, and has a current membership of 40
DFIs.
As established by the SADC Committee of Ministers of Finance and Investment, the
mandate of the DFI Network encompasses a number of activities which include
collaborating in cross-border and in-country financing of projects and pooling resources
for the development of intra – and extra-regional projects.
Member institutions are mandated to share experiences and develop common best
practices in areas of risk management, corporate governance, project appraisal and to
build the creditworthiness of members with the ultimate goal of obtaining good
international credit ratings.
The DFIs in the network are of varying asset levels with mandates spanning agriculture,
industrial, infrastructure (economic and social) and small and medium enterprises
development.
Mr Macheka’s chairmanship brings to the SADC DFI Network and SADC-DFRC, over 20
years of experience in general management and executive directorship in banking and
agricultural development.
He is a banking and agricultural development expert with a proven record of business
leadership in commercial and agricultural banking, and financial inclusion and is also a
member of the Institute of Directors Zimbabwe (IoDZ), as well as former deputy
chairperson of the Farmers Development Trust of Zimbabwe.
In a statement AFC Holdings group board chair, Advocate James Mutizwa said Mr
Macheka’s chairmanship is highly strategic to the country as a whole, particularly in
driving the transformation of Zimbabwe’s agriculture sector towards the attainment of
vision 2030 goals on economic prosperity as well as on food and nutrition security.
“His appointment is significant to the economy in that it comes immediately after he
successfully led the setting up of AFC Holdings upon its formation by Government, in
2021, through the unbundling of Agribank,” said Advocate Mutizwa.
Mr Macheka holds a number of post-graduate and professional qualifications in
agriculture, banking and credit management and has contributed to several expert
forums in Zimbabwe and across Africa on agricultural finance and banking, including at
the SADC DFRC CEO’s Forum.
In his capacity as chairman of SADC –DFI Network, Mr Macheka will also be an ex-officio
member of the Southern African Development Community – Development Finance
Resource Centre (SADC-DFRC) board of trustees.
The SADC-DFRC is a subsidiary of the Southern African Development Community (SADC)
collectively owned by the SADC DFI Network and its core functions include capacity
building and institutional strengthening, advisory services, policy research and
advocacy.
Both the DFRC and the DFI Network are recognized under the SADC Protocol on Finance
and Investment (the FIP).-The Herald
