PRESIDENT HICHILEMA ADVISED TO USE HIS COMESA CHAIRMANSHIP TO PUSH FOR ACTUALIZATION OF A SINGLE CURRENCY AMONG COMESA MEMBER STATES
New Hope MMD President Nevers Mumba has urged President Hakainde Hichilema to use his COMESA Chairmanship to push for the actualization of a single currency among COMESA member states.
At 22nd Common Market for Eastern and Southern Africa -COMESA- Heads of State Summit and Government held in Lusaka yesterday, President Hichilema took over the chairperson of the COMESA authority of heads of state.
Commenting on this development in an interview, Dr Mumba said the lack of single currency in the region has been impeding viable exports and any prospects for growth.
Dr Mumba says currently, the intra-regional trade volumes are still unacceptably low hence the urgent need for the money system that will stimulate development and cooperation among countries.
He explains that the lack of a single currency among African countries has been identified as a major obstacle and a factor that aggravates transaction costs coupled with inefficient payment systems for intra-regional trade.
PHOENIX NEWS