President Cyril Ramaphosa who is the fifth and current sitting president of South Africa since 15th February 2018, unequivocally punted the idea of creating a single homogeneous money for African nations in an offer to pull in infrastructure investment and empower simplicity of intra-African exchange.


<div class="pull-left">https://gateway.ipfs.io/ipfs/QmY2uyijzqQ9M4T2XWBPtphaToDHeFumSRdLhhPoM48a7L<center><a href="https://pixabay.com/en/euro-currency-money-finance-wealth-busin-163475/">source</a></center></div>

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While making a speech and talking as a specialist on financing intra-Africa exchange at the African Continental Free Trade Area business gathering in Kigali, Rwanda, President Cyril Ramaphosa said that it was high time Africa quits depending on foreign currency for its development and exchange, including this was born of colonial mindset.


<div class="pull-right">https://gateway.ipfs.io/ipfs/QmXpCb2a8DLayBrEX3fLhaktisrmSNo5YBXXMtNzbMeY6r<center><a href="http://www.itwebafrica.com/images/stories/Cyril_Ramaphosa.jpg">President Cyril Ramaphosa</a></center></div>





"These are the reasons we require accomplices who must work with us and help us guarantee we de-chance projects keeping in mind the end goal to pull in fund for infrastructure ventures. I am especially keen on the thought of us having a trade-able cash that enables us to exchange adequately crosswise over regional outskirts," Ramaphosa said.

"We should free ourselves of this colonial attitude that requests we depend on other people's currency. Maybe the day, the hour and the minute could have landed for us to make a single African currency. Our spotlight ought not be on our individual nations but rather the continent as a whole to open awesome opportunities and capacities."

About 53 African Heads of State which cuts across the African continent assembled in Kigali for the tenth Extraordinary Summit of the AU to consider the legitimate instruments of the African Continental Free Trade Area (AfCTA) and furthermore dispatch the understanding formally to build up the settlement when President Cyril Ramaphosa made the speech.

<center>https://gateway.ipfs.io/ipfs/QmadUVWESnJAhS3MoFxYWNQaQ4hF1bcCUoJqsx3pBxu2Vy
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[source](https://pixabay.com/en/africa-continent-countries-flags-map-nat-1297148/)
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AfCTA is gone for extending African monetary integration, advancing agricultural improvement, food security, industrialization and basic financial change through single-air continental transport market with free development of people, capital, goods and services

AU executive and Rwanda President, Paul Kagame gave a solid sign yet that part states will sign the settlement to make the mainland organized commerce zone regardless of whether the continent's most-populated nation, Nigeria, pulls back from the meeting.

Ramaphosa said that the AfCFTA signals a fresh start for Africa and a chance to release African individuals' entrepreneurial nature, including that the settlement would make a level playing field for African nations to take an interest in significant trade.

He likewise addressed the bothering issue of visa boundaries for travelers between South Africa and Rwanda, saying that African pioneers were making pathways for their nations which had been hindered by simulated borders to thrive.



_**Authored By @sweetestglo-eu**_



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![image.png](https://res.cloudinary.com/hpiynhbhq/image/upload/v1517155036/nh0zahldpurmj28i1iee.png)

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### REFERENCES

* https://citizen.co.za/news/news-africa/1862833/ramaphosa-wants-a-single-currency-for-africa/

* https://www.businessinsider.co.za/afro-can-only-worked-if-it-is-pegged-to-the-rand-2018-3

* https://www.coininsider.com/south-africa-ramaphosa-proposes-single-african-currency/







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