The 28th meeting of the Information and Communication Technology of the Southern African Development Community Committee of Central Bank Governors being hosted by the Central Bank of Seychelles, was officially launched yesterday, Monday February 13, 2023.

The meeting, held annually, sees the participation of Information and Communication Technology (ICT) directors from the Southern African Development Community (SADC) central banks, deliberating on various ICT-related objectives set by the Central Bank governors of the region.

In her opening address, CBS’ second deputy governor Jenifer Sullivan highlighted the key role played by the subcommittee, especially after the emergence of the Covid-19 pandemic, a period during which the adoption of technology has been hastened.

“The nature of the pandemic has had a positive impact on the wider adoption of technology to streamline processes and facilitate interactions during periods when face-to-face contact was limited. Many institutions, including central banks, have been quick to leverage the opportunities presented to get stakeholder buy-in and fast track modernisation projects,” said Ms Sullivan.

Also meeting parallel to the ICT directors are the business continuity managers and risk management personnel of the SADC central banks. In acknowledging the importance of all three functions, especially in mitigating and addressing challenges that arise with the adoption of technology, Ms Sullivan noted that “our institutions, including those we supervise must remain resilient, for example, by strengthening security controls, prioritising ongoing training, undertaking simulation exercises and cooperating with authorities to share intelligence and experience. From an organisation perspective, business continuity, risk management, information security, IT and other personnel need to foster a shared purpose of risk awareness and heighten our business continuity preparedness.”

The 28th SADC CCBG ICT meeting is the first of this forum to be held in person since the onset of Covid-19 and also has a hybrid component, allowing some delegates to participate in the meeting virtually. The meeting is being held throughout this week and will close on Friday February 17, 2023.

Source: Seychelles Nation