It has emerged that the Southern African Development Community (SADC) has mooted the idea of having one currency to facilitate regional integration and development.
The Director of Policy Planning and Resource Mobilisation at the SADC Secretariat, Angelo Eduardo Mondlane said in Lilongwe that this year’s Summit aimed at discussing the future of having one currency in the region.
He told journalists, “One of the major goals SADC wants to achieve is having one currency throughout the region.
This is of more importance because it is the only way SADC development plans can be achieved.”
“People are worried upon hearing this because they are thinking of the economic crisis which is in Europe as a result of member states using one currency.
The thing is, in Europe they lack proper management of the whole development. I can assure you here in the SADC region we are not going to experience that,’’ he said.
He outlined that much as this initiative might bring its own disorders, people should be assured that more positives are attached to it than negatives.
Apart from that Mondlane pointed out that the one currency development is a long term project which will require patience and cooperation from all SADC member states.
“Despite this being part of this year’s SADC Summit deliberations, the whole project will not be implemented soon as some might think.
All in all it will come to pass as soon as member states agree on terms and conditions of the platform,” Mondlane said.