Minister of Industry and Commerce, Welshman Mpofu, said the regional trading bloc’s Ministers of Trade and head of state were going to meet in the Democratic Republic of Congo (DRC) to deliberate on the issue of adopting a single currency.
“The issue of adopting a single currency is a collective effort by all member states It falls under one of SADC’s programme which saw the setting of Preferential Free Trade Area in 2008, the setting of the Customs Union in 2010 and the Monetary Union by 2016. We are however, going to deliberate about rescheduling it (Monetary union),” said Ncube.
The summit will see Ministers of Trade meeting from September 5-6 and the heads of state meeting from September 7-8.
South Africa’s central bank Governor, Tito Mboweni, was quoted in the media saying that Southern African countries had fallen behind targets that would allow them to adopt a single currency by 2016.
31.8.2009
16:49
SADC regional currency to be discussed
HARARE - One of the key issues to be discussed in the next SADC meeting is the possibility of a regional currency to be used as a medium for trade transactions in the region.