Togolese economist Kako Nubukpo used the 9th Pan-African Congress in Lomé to advocate strongly for a single African currency. He argued that the lack of a unified currency continues to restrict intra-African trade.
Nubukpo said a common currency would boost competitiveness and help the continent face global economic pressures. He linked the reform to the need to finance 600 million young people expected to enter Africa’s labor market in the next four decades. Despite ongoing debates, he noted that the long-discussed ECO currency remains stalled by political and structural obstacles. Nubukpo also called for an African central bank focused on job creation and development financing.
He proposed a continent-wide fund to support vulnerable states using domestically mobilized revenue. According to him, raising Africa’s tax contribution to 2% of GDP could eliminate dependence on foreign aid.
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