Regional economic integration took centre stage at the 9th Southern African Customs Union (SACU) Summit, where leaders reaffirmed the African Continental Free Trade Area (AfCFTA) as a catalyst for boosting intra-African trade and industrialisation. Bringing together 55 countries, a market of 1.3 billion people and a combined GDP of 3.4 trillion USD, the AfCFTA remains central to efforts to build resilient regional value chains and expand trade across the continent. The summit concluded with the approval of a 5 billion rand regional funding mechanism to support strategic projects across the bloc.
Economic integration took centre stage at the 9th SACU Summit as the Heads of State and Government of the Southern African Customs Union reaffirmed the African Continental Free Trade Area (AfCFTA), a market of 55 countries, 1.3 billion people and a combined GDP of USD 3.4 trillion as a cornerstone of Africa’s industrialisation and trade agenda. President Cyril Ramaphosa called for stronger regional value chains and greater private sector participation, while the five SACU member states agreed to establish a 5 billion rand regional funding mechanism to accelerate strategic projects across the bloc.
With Africa holding approximately 30 % of the world’s mineral reserves, SACU needs to leverage the growing global demand for critical minerals to support our own regional value chains, but also to fast-track the beneficiation of our raw materials. rather than cutting off from our continent and our region rock, soil and dust to other locales in the world.
Cyril Ramaphosa, President of the Republic
Established in 1910, SACU is the world’s oldest customs union, bringing together Botswana, Eswatini, Lesotho, Namibia and South Africa in a market of over 74 million people. Regional leaders stressed that faster AfCFTA implementation is key to boosting trade and industrial growth. The World Bank estimates that full implementation of the AfCFTA could increase Africa’s exports by 29% and intra-African exports by over 80% by 2035, while strengthening regional value chains.
The summit underscored the need for sustained and close cooperation among circle member states in responding to the economic challenges posed by current global developments, including through economic diversification and development of regional value chains.
Dumisani Masilela, Executive Secretary, SACU
As global economic uncertainty persists, SACU is reinforcing regional cooperation through stronger institutions, strategic investment and the AfCFTA, positioning Southern Africa to expand intra-African trade and accelerate sustainable economic growth.
