Former South African President Jacob Zuma has called on African nations to pursue a unified currency to strengthen intra-continental trade and economic sovereignty.
Addressing the 2025 Annual Leadership Lecture at the University of Professional Studies, Accra (UPSA), Mr Zuma declared, “One Africa, one currency, one destiny,” warning that continued reliance on the dollar undermined Africa’s autonomy and perpetuates colonial structures.
Speaking on the theme “The Geopolitics and Geo-economics of De-dollarisation: BRICS+ Currency Strategy, Lessons for Africa’s Common Currency and Beyond,” Mr Zuma urged the continent to harness its resources and reduce dependence on foreign aid.
“Africa needs strategic allies not aid,” he said, adding, “Africa’s dependency on the West is a form of slow death.”
Mr. Zuma advocated for the creation of African-owned trading platforms and a shift away from the continent’s role as a raw material supplier.
He noted that Inter-African trade would be “meaningless” if the continent continued to supply raw materials to countries outside the continent without value addition.
Mr Zuma expressed concern that 80 per cent of African trade is settled in foreign currencies, limiting the effectiveness of regional commerce.
He called on the younger generation to embrace self-reliance and adopt policies that dismantle barriers to global competitiveness.
“We must not be any spectators. Africa must design its own platforms. Our own systems must be the arteries of Africa’s future.
“If they can sanction our banks, we must build our own banks. If they can switch off, we must switch on Africa,” he said.
Touching on South Africa’s membership in BRICS, Mr Zuma described the bloc as a revolutionary force against the “dollar empire.”
He said its success proved that Africa could overcome global economic inequalities through unity and strategic partnerships.
“By bringing Africa into BRICS, South Africa made sure that Africa would not be a passive supplier of raw material,” he stated.
The UPSA Annual Leadership Lecture is a flagship event that convenes thought leaders from academia, diplomacy, finance, and policy to explore pressing global issues and their implications for Africa’s development.
Source: Myjoyonline
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