Former South African President Jacob Zuma has called on African leaders to institute a common trading hub to do away with the old ways of exporting raw materials to the other global world.
He said numerous African trades leverages the financial base of most foreign countries and the transactions creates an adverse effect on Inter-Africa trade adding that there will be no value addition on products of Africa when exported in its raw materials.
President Jacob Zuma made the call at the 2025 Annual Leadership Lecture series by the University of Professional Studies, Accra (UPSA) under the theme, “The Geopolitics and Geo-economics Strategy, Lessons for Africa’s Common Currency and Beyond,” in Accra.
According to him, Africa must institute its own trading hubs and put in place swift treading mechanisms to enable the continent be self-reliance and independently trade among each other and be at a competitive edge of other trading blocks.
“The Continent needs Inter-Africa trade and must not entirely rely on foreign aid”, he added, pointing out that it will enable the continent to unleash it’s trading potentials in creating jobs to boost it’s export drive.
Turning the spotlight on a single currency for the Africa continent, Mr. Zuma challenged African leaders to forge collaborations as a measure towards one single currency to enhance trade and economic growth.
“Over reliance on the dollar slows the continent’s economic progress and development, adding that a single currency will rapidly boost intra-continental trade and economic sovereignty,” he said, indicating further that “One Africa, One currency, one destiny is the Ultimate way to leverage the continent trading activities.
The Minister of Education, Haruna Iddrisu commended UPSA for the annual leadership lecture series, saying it is one of the finest initiatives of the University for academic excellence and growth.
He said the annual lecture series has produce distinguish speakers and have help the management of the University and students to acquire sound academic knowledge.
