UNECA calls for expediency of a common currency for Africa

Principal Policy Advisor in the Macroeconomics and Governance Division of the United Nations Economic Commission for Africa (UNECA), Mr. Joseph Atta-Mensah has called for the expediency of a common currency.

According to him, having a single currency, would accelerate trade and development in Africa. He also advocated for the implementation of a continental passport to facilitate trade and accomplish the ultimate agenda of the African Continental Free Trade Agreement (AfCFTA).

Speaking at the maiden Hybrid Business Conference spearheaded by the Chamber of Commerce and Industry France in Ghana, (CCIFG), the economist touched on the potential trade, welfare and revenue implications of the AfCFTA for Ghana.

Dubbed "What does ACFTA mean to Ghana," the conference touched on the expected impacts of the pact that binds the African continent on trade and how Africa can position itself better enough to up its game by adding value and innovation to goods and services.

Also, joining the conference via zoom, Ziad Hamaoui of Boarderless Alliance shares insights on how the African Youth can be included in the game changer deal and highlights on the barriers that hinders developments on the African continent. According to him, doing business in Africa is full of bureaucracies, costly and risky, therefore calling on African leaders to implement a common trade policy and provide a consolidated regional investors policy on a continental level to accelerate trade.

The Chief Executive Officer of the Chamber of Commerce and Industry France Ghana, Anne-Rita Vincent-Ernst in her opening remarks stated that the conference aims at addressing the issues of investor confidence, and to provide investors with the requisite information needed to make an informed decision and which areas to invest in.

The event brought together industry players from the business community, members of the chamber and representatives of government agencies in the country.