Discussions and plans regarding the adoption of a common currency in Africa have been put on hold for a while, but Ernesto Yeboah, the Commander-in-Chief of the Economic Fighters League, has recently brought them back up in the current Pan African conference in Arusha.
Pan African movements from all over the continent have gathered in Arusha, a stunning city in Tanzania, to discuss the growth and emancipation of Africa.
The adoption of a common currency, according to Ernesto Yeboah, is the cornerstone of African unity and a sign of power that its proponents believe would result from efforts to connect the continent, in his speech on Economic Justice and Dignity.
He attributed the lack of adoption to neo-colonialism, which he claims is mostly to blame for resource theft across the wealthy continent of Africa, which is supported by dishonest politicians.
“There is the need for us to advance Pan Africanism as an alternative [to the current flawed system] going forward and in that Pan Africanism, we want to see one president, one African currency.”
A shared currency, according to the legendary social activist, will provide Africans economic freedom and dignity and boost economies, ending the pain and sufferings brought on by the current corrupt political systems and neo-colonialism.
“Our Cedi is used by just a little over 30 million people and so, right from the onset, that currency is useless and it is the same for almost all other African countries and that is why almost all the countries on the continent quote their prices in Dollars.
And so it is imperative for us to advance the cause that necessarily forces the leadership of this continent to adopt one currency.”
Mr. Yeboah also paid tribute to influential figures like Muammar Gaddafi, the late president of Libya, for his efforts and contributions to the creation of a single continental currency.
“When Gaddafi tried to do that, he was killed. He advocated for one currency backed by our natural resources and he was killed and so there is a section of our leaders that are afraid and there are those of our leaders that are with them willing and the only way for us to confront it is we the people uniting and making a call for that one currency.”
The All-African Movement Assembly conference, which will take place from August 29 to August 31, is being planned by Africans Rising with the goal of enlisting the help of Pan African movements and activists in resolving the continent’s long-term issues.
The Association of African Central Bank Governors stated in August 2003 that they would seek to establish a unified currency and one central bank by 2021, but that goal has not yet been realized.
