– Former South African President Jacob Zuma has renewed calls for the creation of a single African currency, arguing that the move would strengthen intra-African trade and reduce the continent’s reliance on the US dollar.
Speaking at a public forum, Zuma said that Africa’s continued dependence on foreign currencies keeps its economies tied to “colonial structures” and undermines efforts toward true independence. He stressed that a unified currency would enable the continent’s 54 nations to operate as a powerful economic bloc, better positioned to negotiate trade agreements and protect their collective interests on the global stage.
Zuma also urged African leaders to establish homegrown financial systems and digital platforms that can support cross-border trade without external interference. He noted that many African economies remain vulnerable due to overdependence on foreign aid and externally controlled financial institutions.
Citing the BRICS alliance, of which South Africa is a member, Zuma described the bloc as a “strategic counter to the dollar empire,” highlighting its push for alternative payment systems and stronger South-South cooperation.
He further challenged young Africans to play a central role in driving unity, innovation, and self-reliance across the continent. According to him, the future of Africa’s economic liberation depends on their willingness to embrace integration and resist policies that perpetuate dependency.
Analysts say Zuma’s remarks echo long-standing debates around the feasibility of a continental currency, a goal also referenced in the African Union’s Agenda 2063. While critics point to challenges such as economic disparities, political instability, and weak infrastructure, proponents believe a unified financial framework could unlock Africa’s potential as one of the fastest-growing regions in the world.
