THE African Forum and Network on Debt and Development (Afrodad) and the Southern African Development Community Parliamentary Forum (Sadc PF) have signed a memorandum of understanding (MoU) to promote sound financial and debt management policies across Africa.
The agreement, signed in Harare on Tuesday, formalises the collaboration of both organisations in influencing policy by providing technical support to African governments and parliaments to regain their political, economic and social agency as the continent grapples with a multiplicity of crises.
In a statement, Afrodad said the Sadc Model PFM Law lays the foundation to attain the ambitions of the Abuja Treaty in establishing an African Financial Architecture.
“Today, effective financial governance of countries constitutes the bedrock of sustainable development and provides the conducive environment for the enjoyment of socio-economic human rights by citizens,” Sadc PF secretary-general Boemo Sekgoma said.
“In this regard, the Forum welcomes its collaboration with Afrodad under this forward-looking MoU to promote sound financial and debt management through parliamentary and other initiatives which will inter alia set the precepts for the development of a model law on climate action that is grounded in sustainable financial commitments by states to reduce carbon emissions.”
Afrodad said the MoU marked a significant milestone towards making “Africa a rule-maker” as they strive for sustainable development and climate justice in Africa.
“This collaboration marks a significant step forward not only in enhancing our shared commitment to advancing responsible debt management and promoting robust financial systems but to deepen our partnership by bringing a technical and political economy perspective to the development of the model law on climate action," Afrodad executive director Jason Rosario Braganza said.
“We look forward to merging our combined expertise which will empower parliaments and other key stakeholders to play a leading role in this critical endeavour.”
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