'Africa Has Everything World Needs for Next Century of Human Development' — SA President
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'Africa Has Everything World Needs for Next Century of Human Development' — SA President
At a moment when the global economy is being reshaped and trade patterns are changing, "no African country, regardless of its size, can prosper alone," Cyril Ramaphosa said at the 9th Summit of the Southern African Customs Union (SACU).
"Through frameworks such as the African Continental Free Trade Area and mechanisms like SACU, we want to enhance intra-African commerce and trade."
Key facts about the SACU from the speech:
🟠The world's oldest customs union, established in 1910, that evolved from a colonial instrument to one advancing regional integration.
🟠Overall GDP growth in SACU is expected to reach 2.64% in 2026 and 2.1% in 2027, demonstrating resilience against external shocks.
🟠Cooperation across member states is seen in agriculture, vaccine collaboration, auto, mining, steel and textile sectors, green hydrogen and uranium processing.
🟠Shared infrastructure projects include roads, railways, ports, energy grids, digital networks and water systems.
"We choose industrialization over dependence," he concluded.
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Sputnik Africa | X
At a moment when the global economy is being reshaped and trade patterns are changing, "no African country, regardless of its size, can prosper alone," Cyril Ramaphosa said at the 9th Summit of the Southern African Customs Union (SACU).
"Through frameworks such as the African Continental Free Trade Area and mechanisms like SACU, we want to enhance intra-African commerce and trade."
Key facts about the SACU from the speech:
🟠The world's oldest customs union, established in 1910, that evolved from a colonial instrument to one advancing regional integration.
🟠Overall GDP growth in SACU is expected to reach 2.64% in 2026 and 2.1% in 2027, demonstrating resilience against external shocks.
🟠Cooperation across member states is seen in agriculture, vaccine collaboration, auto, mining, steel and textile sectors, green hydrogen and uranium processing.
🟠Shared infrastructure projects include roads, railways, ports, energy grids, digital networks and water systems.
"We choose industrialization over dependence," he concluded.
Subscribe to @sputnik_africa
Sputnik Africa | X
