• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Thursday, October 9, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home Economy/Technology

South Africa backs African currency

Currency

The Matters Press by The Matters Press
March 10, 2022
Reading Time: 2 mins read
0
Zimbabwe hits $445m trade surplus with China

Zimbabwe currency

South Africa is in full support of establishing a single African currency backed by the continental central bank and monetary institute.

RELATED POSTS

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

Atiku’s hunger revolution, delusional – TMSG

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

According to International Relations and Cooperation Minister Naledi Pandor, the establishment of the African Union’s (AU) African Central Bank (ACB), African Investment Bank (AIB) and the African Monetary Institute (AMI) are considered critical to facilitate a single currency and boost the intra-Africa trade.

“In every available continental platform, South Africa has consistently reaffirmed her commitment to continuing to support the continental integration in line with the provisions of the Abuja Treaty of 1991 which seeks to assist the AU member states to overcome trade barriers that impede the flow of goods, services and capital,” Pandor said

This emerged in Pandor’s response to a written parliamentary question from EFF MP Thembi Portia Msane.

Pandor said the “operationalisation” of the African Continental Free Trade Area Agreement (AfCFTA) and the start of trading on 1 January 2021 are viewed as catalysts for long-term continental “prosperity and integration”.

“It is against this background that the establishment of the African Union Financial Institutions (AUFIs) comprising the ACB, the AIB and the AMI are considered as critical to facilitate the creation of a single currency and boost the intra-Africa trade.

“These institutions form a key component of the flagship projects of Agenda 2063,” she said.

Furthermore, Pandor said South Africa utilises its participation at AU statutory meetings to call for the establishment of the AUFIs and the subsequent realisation of a single currency.

“It is for this reason that during the 12th Extraordinary session of the AU Assembly in July 2019 in Niamey, Niger, South Africa supported the launch of the operational instruments of the AfCFTA, which included amongst others the digital payment system. The launch of the AfCFTA instruments is a remarkable achievement following the entry into force of the AfCFTA,” she said.

Pandor also said the August 2021 Southern African Development Community (SADC) summit reaffirmed the bloc’s position to create a SADC central bank and monetary union.
 
More=News24=

Tags: Currency
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

Consumer commission, CBN, EFCC investigate violations in money lending
Economy/Technology

Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎

September 24, 2025
Drop your frustration, let President Tinubu be, Group picks on Atiku
Economy/Technology

Atiku’s hunger revolution, delusional – TMSG

September 23, 2025
‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG
Economy/Technology

‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

September 22, 2025
2023 maritime, shipping outlook force experts to call for aid
Economy/Technology

Leap in non-oil exports gain of Nigeria:s economic diversification ‎

September 17, 2025
NBS reports increase in Inflation
Economy/Technology

Think Tank ‎projects 17% inflation rate by year-end, urges CBN to ease benchmark rate ‎

September 17, 2025
Old pension scheme beneficiaries get a boost in entitlements
Economy/Technology

‎GROUP LAUDS INSURANCE SCHEME FOR RETIREES IN NIGERIA. ‎

September 14, 2025
Next Post
BPE to implement 42 transactions in 2022 work plan

BPE gives 3 privatised firms discharge certificates

Power line to energise part of Oyo

Geometric Power pledges constant power supply in Aba

Recommended Stories

Buhari presents N8.8trn 2019 budget

How senators voted to pick President, deputy

June 15, 2023
Israel, Jordan in joint industrial park project

Israel, Jordan in joint industrial park project

August 10, 2022
Airlines boycotts routes over debt

Airlines boycotts routes over debt

December 10, 2018

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Think Tank welcomes first interest cut in 5 years, notes that CBN decision aligns with its projection ‎
  • Atiku’s hunger revolution, delusional – TMSG
  • ‎Fubara, lawmakers’ position vindicate President Tinubu’s emergency rule declaration-TMSG

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us