William Gumede’s article was one among many published lately discussing the proposal for a common Brics currency. (“Brics common currency is up for discussion amid myriad challenges”, May 22).
However, no-one seems to write a word on the fact that the Southern African Development Community (Sadc) has a commitment to a common currency, now a decade behind the schedule shown on its website. This in turn is envisaged as a step towards a common continental currency, to be named the afro.
Perhaps someone could enlighten us on what steps the AU has taken towards this afro? And how it will be reconciled with a Brics currency?
Nigeria is the designated state to form a preparatory technical committee to set up an African Central Bank. It is time for an update on what progress has been made.
Keith Gottschalk
Claremont
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