SACU approves N$5 billion fund, seeks 15-year AGOA extension
The Southern African Customs Union (SACU) has approved a N$5 billion fund to support regional development projects and is advocating for a 15-year extension of the U.S. African Growth and Opportunity Act (AGOA). The summit also addressed economic diversification and regional trade integration.
Why it matters
The fund and the push for AGOA extension are critical for the economic stability and industrial growth of the five member states in Southern Africa.
LEADERS of the Southern African Customs Union (SACU), of which Namibia is a member, have approved a N$5 billion Regional Innovative Funding Mechanism to support development projects across all five member states, following the 9th Summit held in Cape Town on Friday.
The report provides a factual summary of a regional summit and its policy outcomes.
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