Accra, Ghana – Former South African President Jacob Zuma has called on African countries to pursue a single currency to strengthen trade within the continent and boost economic independence.
Speaking at the 2025 Annual Leadership Lecture at the University of Professional Studies, Accra (UPSA), Zuma warned that continued reliance on the US dollar undermines Africa’s autonomy and maintains colonial economic structures.
Zuma argued that Africa should focus on leveraging its resources and reduce dependence on foreign aid. “Africa needs strategic allies, not aid,” he said, describing the continent’s dependency on the West as a “form of slow death.”
He encouraged African nations to establish their own trading platforms and move away from being primarily raw material suppliers. He noted that 80 percent of African trade is conducted in foreign currencies, which limits the impact of regional commerce.
“Young Africans must embrace self-reliance and create policies that remove barriers to global competitiveness,” Zuma said. “If they can sanction our banks, we must build our own. If they can switch off, we must switch on Africa.”
Touching on South Africa’s role in BRICS, Zuma described the bloc as a revolutionary force against global economic inequalities and said its success shows Africa can reshape its position in the world economy.
The UPSA Annual Leadership Lecture brings together leaders from academia, diplomacy, finance, and policy to discuss global issues and their implications for Africa’s development.
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