SADC Ministers Emphasize Support for Young Entrepreneurs and Regional Integration

SADC Finance and Investment Ministers have stressed the urgent need to support young entrepreneurs, highlighting access to capital as a key barrier. They discussed establishing National Venture Funds to empower youth and harness the region’s demographic advantage.

At the close of the two-day Committee of SADC Finance and Investment Ministers and Peer Review Panel in Victoria Falls, Finance Minister Professor Mthuli Ncube noted that the ICT sector, especially programming skills, offers significant opportunities for Africa to compete globally.

The meeting also addressed harmonizing third-party insurance rules, proposing the adoption of the COMESA yellow card system to ease cross-border movement and boost regional integration.

Additionally, ministers agreed to incorporate Financial Action Task Force (FATF) standards into SADC protocols to combat money laundering and terrorism financing, aiming to prevent grey-listing and enhance financial stability.