As we all can acknowledge, technological innovation has brought about the speedy processing and transmission of information, resulting in substantial reduction in costs, wider networking, and globalization on an unprecedented scale and scope. Undoubtedly, ICT has affected a varied range of industries world wide, and the banking industry and central banks in particular, have benefited greatly from this ICT revolution.
Mr Chairman and Distinguished Delegates, the central banks within the SADC region have registered unprecedented developments and advances in the areas of Payment Systems, website development, and Banking Supervision Application, just to mention a few areas which are projects emanating from the SADC ICT Forum.