Former South African President Jacob Zuma has urged African nations to work towards a single continental currency, saying it would strengthen intra-African trade and reduce reliance on the US dollar.
He made the call while delivering the 2025 Annual Leadership Lecture at the University of Professional Studies, Accra. Zuma argued that Africa’s heavy use of foreign currencies in trade increases costs, exposes economies to exchange-rate risks, and undermines true economic independence.
The former president also pointed to his role in proposing a common BRICS currency, noting that the initiative within the bloc offers lessons for Africa as it seeks to chart its own financial path. According to him, cooperation among countries of the Global South proves that alternatives to Western-dominated systems are possible.
His remarks come at a time when the African Continental Free Trade Area (AfCFTA) is working to expand regional commerce. Tools such as the Pan-African Payment and Settlement System (PAPSS), which enables cross-border transactions in local currencies, are already being positioned as steppingstone toward deeper financial integration.
