Business updates

The Directors of National Private Sector Apex Body and Regional Business Body Associations in the SADC region held an online meeting on 10 June 2020 to discuss the post COVID-19 recovery strategies. The directors acknowledge the paramount importance of protecting the health, and safety of the Southern African people and, as the regional private sector, we commit and join hands with the Governments to ensure that the business community complies with the measures to protect the lives of SADC citizens and the global community. The meeting discussed:

• The COVID-19 induced regional trade challenges in SADC Member States
• Priority sectors to be prioritized in the post COVID-19 period to stimulate quick economic recovery.
• Recommend the required interventions as economies gradually re-open.

The ongoing Covid-19 presents a significant challenge to SADC economies by disrupting global and regional value chains. It will lead to a global recession and global trade contraction tat. It is also expected that cyclical unemployment will increase because of COVID-19. Navigating the COVID-19 challenges will take certain interventions at national, regional and at the global level.

Read full communique here.