Page 8 - Nexia SAB&T Business in South Africa Guide 2024

SOUTH AFRICAN DEVELOPMENT COMMUNITY (SADC)

The Southern African Development Community (SADC) is a regional economic
community, comprising the following 15 member states: Angola, Botswana,
Democratic Republic of Congo, Lesotho, Madagascar, Malawi, Mauritius,
Mozambique, Namibia, Seychelles, South Africa, Swaziland, Tanzania, Zambia
and Zimbabwe.
The SADC continues to be committed to promoting sustainable and equitable
economic growth and socio-economic development, so that the region emerges
as a competitive and effective player in international relations and the world
economy. The vision of SADC is one of a Common Future, a future within a
regional community that will ensure economic well-being, improvement of the
standards of living and quality of life, freedom and social justice and peace and
security for the people of Southern Africa. In order to fulfil the SADC mission
statement, member states are guided by the following principles, as stated in
Article 4 of the SADC Treaty:
■ Sovereign equality of all member states.
■ Solidarity, peace and security.
■ Human rights, democracy and the rule of law.
■ Equity, balance and mutual benefit, and
■ Peaceful settlement of disputes.
African Continental Free Trade Area Agreement (AfCFTA)
SA signed a free trade agreement that has the objective of implementing free
trade on the African continent.

BUSINESS VEHICLES

The main business vehicles used for doing business in SA are:
■ Partnership.
■ Sole proprietorship.

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