Committee of Insurance, Securities
and Non-Banking Financial Authorities

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Microfinance and Financial Co-Operatives Sub-Committee (MIFFCO)

The MiFFCO has been setup pursuant to Article 13 (4) of the Protocol on Finance and Investment and Paragraph 11.1(a) of the CISNA Rules.

The purpose of the MiFFCO is to address sector specific issues to ensure achievement of the objects of CISNA in particular the microfinance and financial co-operatives sectors.

The mandate of the MiFFCO is to execute the objects of CISNA as defined in paragraph 2 of the CISNA Rules and in particular to promote harmonisation of legislation and supervisory frameworks in the microfinance and financial co-operatives sectors.

The MiFFCO shall consist of a minimum of five and a maximum of nine members, elected by the General Council in accordance with Paragraph 12 of the CISNA Rules.

The current composition of the MIFFCO is as follows:

CHAIRPERSON

Mr Simbarashe Mashonganyika

Reserve Bank of Zimbabwe

Zimbabwe

VICE CHAIRPERSON

Vacant

 

MEMBERS

Ms Farrah Cedras

Financial Services Authority

Seychelles

Ms Mamoraka Huma

Financial Sector Conduct Authority

South Africa

Ms Lynda Kanaza

Reserve Bank of Malawi

Malawi

Ms Lebogang Desiree Elizabeth Kgosiemang

Prudential Authority

South Africa

Ms Ntema Cynthia Modongo

Non-Bank Financial Institutions Regulatory Authority

Botswana

Ms Thulani Msusa Musonda

Bank of Zambia

Zambia

Vacant

 

The Committee of Insurance, Securities and Non-Banking Financial Authorities (CISNA) was established in 1998, pursuant to Annexure 10 of the SADC Protocol on Finance and Investment as a committee of authorities responsible for the supervision of insurance, securities, and non-banking financial institutions (NBFI) in SADC Member States. CISNA is part of the Directorate of Finance, Investment and Customs of the SADC Secretariat and reports to the SADC Committee of Ministers of Finance and Investment through the Committee of Senior Treasury Officials.

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