Zuma calls for single African currency to boost continental trade
Former President Jacob Zuma has called for the introduction of a single African currency, arguing that the continent’s heavy reliance on the US Dollar hinders intra-continental trade.
Speaking at the University of Professional Studies in Accra, Ghana, Zuma emphasized that a unified currency could reduce transaction costs, simplify trade, and strengthen economic unity across Africa.
The concept of a single currency has been discussed for decades within the African Union, alongside initiatives like the African Continental Free Trade Area (AfCFTA), which aims to boost trade across the continent.
However, experts caution that economic disparities, divergent monetary policies, and political resistance make the realization of a single African currency a complex and long-term goal.