SACU backs industrialisation drive, approves N$5bn regional fund
The 9th Summit of the Southern African Customs Union (Southern African Customs Union) Heads of State or Government convened in Cape Town on 26 June 2026, where leaders reaffirmed commitments to deeper regional integration, industrial development, and coordinated responses to global economic shocks.
Staff Writer
The 9th Summit of the Southern African Customs Union (Southern African Customs Union) Heads of State or Government convened in Cape Town on 26 June 2026, where leaders reaffirmed commitments to deeper regional integration, industrial development, and coordinated responses to global economic shocks.
The Summit was chaired by South African President Cyril Ramaphosa and attended by King Mswati III, Botswana President Duma Boko, Namibian President Netumbo Nandi-Ndaitwah, and Lesotho Prime Minister Samuel Matekane.
A key outcome of the meeting was the approval of a SACU Regional Innovative Funding Mechanism, including a Fund of Funds with an initial capitalisation of N$5 billion over the 2027/28 and 2028/29 financial years.
