President Duma Boko takes over leadership of SACU
Botswana President Duma Boko has taken over as chairperson of the Southern African Customs Union (SACU), replacing South African President Cyril Ramaphosa under the bloc’s rotational leadership arrangement.
Boko will lead SACU for the next 12 months, during which he will oversee discussions and decisions involving the five member states — Namibia, Botswana, South Africa, Lesotho and Eswatini.
Botswana’s Minister of Finance, Ndaba Nkosinathi Gaolathe, has also assumed the chairmanship of the SACU Council of Ministers, taking over from South Africa’s Finance Minister.
SACU is the world’s oldest customs union and plays a key role in promoting trade among its member countries. The agreement allows goods to move freely between the five nations while also providing for the sharing of customs revenue through a common pool.
The revenue sharing system remains an important source of income for member states, with funds distributed according to an agreed formula.
Boko’s appointment comes as SACU countries continue efforts to strengthen regional trade, support economic growth and improve cooperation among member states.
