In the early 1980’s, when exchange controls had yet to be dismantled, we entered into a bi-lateral agreement with Madagascar which provided for payments settlement in respect of bilateral trade between the two countries to be effected through a compensatory mechanism agreed between the central banks of the two countries.
Subsequently, the Bank hosted in succession a Meeting of the Preferential Trade Area, followed immediately by a Meeting of the AACB. When we joined SADC in August 1995 – after some private behind-the-scenes bargaining with my friend Kaire Mbuende who was then the Executive Secretary – I requested the Finance and Investment Sector to be allocated to us.