Review of Southern African customs system set to start
The member states will examine the revenue-sharing structure amid claims by critics that SA forks out too much
Negotiations on the review of the Southern African Customs Union (Sacu) will start in April and are expected to take two years, says Finance Minister Nhlanhla Nene.The two ministerial task teams set up by the Sacu summit in Swaziland in 2017 — one for trade and industry and the other for finance — will oversee and manage the review.The Sacu heads of state from SA‚ Botswana‚ Lesotho‚ Namibia and Swaziland agreed to a comprehensive review of the 2002 Sacu agreement at the summit."The review of the revenue-sharing formula was identified and agreed upon as one of the key areas that should form part of the review process," Nene said on Thursday in a written reply to a parliamentary question by DA MP Choloane Matsepe."The review of the revenue-sharing formula was to be conducted in such a way that it not only supports the institution and member states in attaining their respective developmental objectives but also does not negatively impact [on] the socioeconomic stability of Sacu member ...
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