Ruto calls for common trade currency in Africa

Says lack of a common currency impedes trade activities between African countries.

In Summary

• Ruto spoke on Thursday during an engagement with the legislators of the Pan African Parliament in Zambia.

• The summit aims to foster economic integration for a thriving COMESA, anchored on green investment, value addition and tourism.

President William Ruto giving an address during the 22nd Summit of the COMESA Heads of State and Governments in Zambia on June 8, 2023.
President William Ruto giving an address during the 22nd Summit of the COMESA Heads of State and Governments in Zambia on June 8, 2023.
Image: PCS

President William Ruto has said it is key that the continent adopts a common currency for intra-African trade.

Ruto spoke on Thursday during an engagement with the legislators of the Pan African Parliament in Zambia.

He is in Lusaka for the 22nd Summit of the Common Market for Eastern and Southern Africa Heads of State and Governments.

Ruto said lack of a common currency impedes trade activities between African countries.

"It is also imperative that we proactively seek a resolution to the disparities in currencies and the consequential impediments it poses to intra-African trade," he said.

The summit aims to foster economic integration for a thriving COMESA, anchored on green investment, value addition and tourism.

The theme for the 22nd COMESA Summit resonates powerfully with Kenya, especially her aspirations for radical national transformation.

Ruto said trade cannot take place without efficient and unified payment systems.

He traveled to Zambia today and was warmly received by leaders from Zambia.

The leaders are also expected to discuss peace and security during the COMESA Summit.

Recently on the last day of May, Ruto attended the East Africa Community heads of State Summit in Bujumbura, Burundi  where the leaders discussed the security situation in Eastern DRC.

The EAC leaders said it is important that Congo enjoys peace like other nations.

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