Committee of Insurance, Securities and
Non-Banking Financial Authorities
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FR
Microfinance and Financial Co-Operatives Subcommittee (MIFFCO)
The mandate of the MIFFCO Subcommittee is to serve Member Authorities from all SADC Member States, with active microfinance, microlending and financial co-operative supervision.
The ambition is to ensure consistency in the application of key principles across the Member States that protect investors and financial consumers in the microfinance, microlending and financial co-operatives markets.
Members of MIFFCO
Botswana
Namibia
South Africa
Zimbabwe
Botswana
Non-Bank Financial Institutions Regulatory Authority (Ms Ntema Cynthia Modongo)
Namibia
Namibia Financial Institutions Supervisory Authority (Mr Simana Chimana, Chairperson of MIFFCO)
South Africa
Prudential Authority (Ms Lebogang Desiree Elizabeth Tshabalala, Vice Chairperson of MiFFCO)
Financial Sector Conduct Authority (Ms Mamoraka Huma)
Zimbabwe
Reserve Bank of Zimbabwe (Mr Simbarashe Mashonganyika)
Insurance Retirement Funds Medical Aid Schemes and Intermediary Subcommittee (IRMIS)
The mandate of the Insurance Retirement Funds Medical Aid Schemes and Financial Intermediaries Sub- Committee (IRMIS) is to promote harmonisation of legislation and supervisory frameworks in the non-bank financial sectors in SADC.
It’s envisioned that a regional harmonised regulatory and supervisory environment will mitigate regulatory arbitrage, enhance compliance with applicable Global standards and promote the free flow of capital in the region. The other key objectives for the Sub-Committee, include the following to foster liaison, co-operation and exchange of information between CISNA and regional and international bodies and agencies, and to facilitate wider access to non-bank financial products and services.
Members of IRMIS
Botswana
Eswatini
Namibia
Republic of Mauritius
South Africa
Zimbabwe
Botswana
Non-Bank Financial Institutions Regulatory Authority (Ms Veronica Namate)
Eswatini
Financial Services Regulatory Authority (Ms Duduzile Vilane)
Namibia
Namibia Financial Institutions Supervisory Authority (Ms Grace Mohamed, Chairperson of IRMIS)
Republic of Mauritius
Financial Services Commission (Mr Aakash Mishra)
South Africa
Prudential Authority (Mr Mandla Magubane, Vice Chairperson of IRMIS)
Council for Medical Schemes (Ms Avril Jacobs)
Financial Sector Conduct Authority (Mr Andile Mjadu)
Zimbabwe
Insurance and Pensions Commission (Mr Cuthbert Munjoma)
Capital Markets Subcommittee (CMS)
The mandate of the Capital Market Subcommittee (CMS) focuses on harmonisation of the securities market laws across the region for ultimate regional integration.
Harmonisation is the core of the CMS mandate with all the committee’s initiatives benchmarked against principles and standards set by the International Organization of Securities Commissions (IOSCO).
Members of CMS
Angola
Botswana
Eswatini
Namibia
Republic of Mauritius
South Africa
Zambia
Zimbabwe
Angola
Capital Markets Commission (Ms Ludmila Cardoso dos Santos Dange)
Botswana
Non-Bank Financial Institutions Regulatory Authority (Ms Mojadi Kwerepe)
Eswatini
Financial Services Regulatory Authority (Ms Babhekile Matsebula)
Namibia
Namibia Financial Institutions Supervisory Authority (Mr Absalom Kamutyasha Kapenda)
Republic of Mauritius
Financial Services Commission (Mr Kamalsing Burun, Vice Chairperson of CMS)
South Africa
Prudential Authority (Mr Moses Pitso)
Financial Sector Conduct Authority (Mr Udesh Naicker)
Zambia
Securities and Exchange Commission (Mr Bruce Mulenga)
Zimbabwe
Securities and Exchange Commission (Ms Grace Berejena, Chaiperson of CMS)
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.