Strengthening southern Africa's ability to prevent future crises is vital, Monde Mnyande, the chief economist of the South African Reserve Bank, has warned.

"The issue of crisis readiness and the strengthening of financial stability mechanisms are high on the list of priorities among central banks in the region," Mnyande said.

"We are indeed fortunate in southern Africa to practice crisis handling in a simulated exercise, where others have to do it in real life. It surely is an opportunity to