By Chiluba Chabi
New Hope MMD President Nevers Mumba has urged President Hakainde Hichilema to use his COMESA Chairmanship to push for the actualization of a single currency among COMESA member states.
President Hichilema took over the Chairmanship of the COMESA authority of Heads of State during the 22nd Common Market for Eastern and Southern Africa -COMESA- Heads of State Summit and Government held in Lusaka on 8th June 2023.
Commenting on this important development in an interview at the MICC, Dr Mumba who is a former Republican Vice President said the lack of single currency in the region has been impeding viable exports and any prospects for growth.
He said currently, the intra-regional trade volumes were still unacceptably low hence the urgent need for coming with money system that will stimulate development and cooperation among countries.
Dr Mumba explained that the lack of a single currency among African countries has been identified as a major obstacle and a factor that aggravates transaction costs coupled with inefficient payment systems for intra-regional trade.
