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‘Cut red tape for small businesses to solve SADC job crisis’

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Absa urges SADC governments to practicalise small business support

Cross-border trade within Southern Africa is still far too complicated for ordinary business owners, and simplifying regional rules must take priority if the bloc hopes to tackle its severe unemployment crisis.

 

That is the message from Absa Business Banking Managing Executive Faisal Mkhize, who warned that while small and medium enterprises generate over 60% of jobs in the region, rigid regulations and high barriers to entry continue to stifle their growth.

 

Mkhize urged Southern African Development Community (SADC) leaders to shift their focus from high-level policy documents to practical, on-the-ground support, such as cutting trade bureaucracy and organizing targeted regional trade missions.

 

He added that making cross-border business work seamlessly within SADC is the essential first step before local entrepreneurs can realistically capitalise on the broader African Continental Free Trade Area.

 

–ChannelAfrica–