Little has been heard about the common Sadec unit that is a decade behind schedule
23 May 2023 - 14:35
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However, no-one seems to write a word on the fact that the Southern African Development Community (Sadc) has a commitment to a common currency, now a decade behind the schedule shown on its website. This in turn is envisaged as a step towards a common continental currency, to be named the afro.
Perhaps someone could enlighten us on what steps the AU has taken towards this afro? And how it will be reconciled with a Brics currency?
Nigeria is the designated state to form a preparatory technical committee to set up an African Central Bank. It is time for an update on what progress has been made.
Keith Gottschalk Claremont
JOIN THE DISCUSSION: Send us an email with your comments to letters@businesslive.co.za. Letters of more than 300 words will be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
LETTER: Update needed on afro currency
Little has been heard about the common Sadec unit that is a decade behind schedule
William Gumede’s article was one among many published lately discussing the proposal for a common Brics currency. (“Brics common currency is up for discussion amid myriad challenges”, May 22).
However, no-one seems to write a word on the fact that the Southern African Development Community (Sadc) has a commitment to a common currency, now a decade behind the schedule shown on its website. This in turn is envisaged as a step towards a common continental currency, to be named the afro.
Perhaps someone could enlighten us on what steps the AU has taken towards this afro? And how it will be reconciled with a Brics currency?
Nigeria is the designated state to form a preparatory technical committee to set up an African Central Bank. It is time for an update on what progress has been made.
Keith Gottschalk
Claremont
JOIN THE DISCUSSION: Send us an email with your comments to letters@businesslive.co.za. Letters of more than 300 words will be edited for length. Anonymous correspondence will not be published. Writers should include a daytime telephone number.
WILLIAM GUMEDE: Brics common currency is up for discussion amid myriad challenges
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