The Third Annual Capacity Building Programme for Boards of the Committee of Insurance, Securities and Non-Banking Financial Authorities (CISNA) Member Authorities officially opened this morning at the Maritim Resort and Spa in Balaclava, Mauritius.
Organised by CISNA and hosted locally by the Financial Services Commission (FSC) of Mauritius, the three-day programme, running from 20 to 22 August 2025, brings together board members and senior executives from regulatory authorities overseeing insurance, securities, and non-banking financial institutions across Southern African Development Community (SADC) Member States.
Anchored on the theme "One Vision, Many Voices: Shaping the Future Together," the event aims to strengthen governance, enhance strategic decision-making, and address emerging challenges in financial supervision.
Present for the occasion were Minister of Financial Services and Economic Planning, Dr Jyoti Jeetun; Junior Minister of Finance, Mr Dhaneshwar Damry; Officer in Charge of FSC Mauritius, Mr Prakash Seewoosunkur; and the Chairperson of SADC CISNA, Mr Kenneth Simataa Matomola, along with other dignitaries.
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In her keynote address Dr Jyoti Jeetun underscored the vital role of strong governance and effective boards in maintaining the stability of financial institutions. She pointed out that boards should be qualified, independent, diverse, and accountable, with clear separation of roles from management. Boards must have robust risk and audit committees, be transparent about any conflicts of interest, and take responsibility for their actions and the culture they foster, she added.
The Minister also emphasised the importance of protecting financial systems from failures, complying with anti-money laundering and terrorism-financing rules (AML/CFT), and enhancing financial literacy and consumer protection. Dr Jeetun noted that Mauritius has made significant improvements to its AML/CFT framework since 2021 and is preparing for upcoming evaluations.
According to the Minister, regulators face growing challenges from fast-evolving technology, fintech innovations, cyber risks, global shocks, and sustainability issues. On th at score, regulatory frameworks must balance compliance with business growth, avoiding excessive burdens on small firms while safeguarding the integrity of the financial system. "Regulation should not be seen as an obstacle to growth but rather as an enabler of trust and sustainable prosperity," she said.
Junior Minister Damry highlighted the need to beef up governance across the SADC region, in line with SADC 2050 and the programme's theme. He recalled the critical role of financial services in industrial growth, market integration, and stronger financial connectivity, noting Mauritius's position as a key partner in investment, digital finance, and sustainable markets. He also underscored the need for harmonised regulations, expanded training, and strong as well as independent boards to ensure effective oversight and resilient financial systems.
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Mr Seewoosunkur, for his part, noted that the capacity-building programme supports good governance, transparency, and resilience across financial institutions in the region. Mr Matomola added that, over the next three days, participants will take part in structured training to strengthen institutional and supervisory frameworks geared to equipping regulators to detect, prevent, and respond to complex financial crimes, ensuring transparency, stability, and regional security.
