{
  "id": 9286765,
  "title": "AGI urges AfCFTA to advance common currency agenda",
  "url": "https://urgent.news/2026/09/23/agi-urges-afcfta-to-advance-common-currency-agenda",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T06:26:47.000Z",
  "source": {
    "name": "Ghana Business News",
    "slug": "ghana-business-news",
    "url": "https://www.ghanabusinessnews.com/2026/09/23/agi-urges-afcfta-to-advance-common-currency-agenda/"
  },
  "original_language": "en",
  "account": "The Association of Ghana Industries (AGI) has urged the African Continental Free Trade Area (AfCFTA) to advance the agenda for a common African currency to reduce exchange rate volatility and lower intra-African trade costs. AGI representative Dr Paa Kwesi Eduaful Abaidoo, who spoke at the third edition of the Graphic Business/Stanbic Bank forum, emphasized that exchange rate fluctuations continue to impact import and export costs, capital accumulation, and trade volumes across the continent. Dr Abaidoo highlighted structural constraints faced by businesses, including limited capacity and weak demand, and the difficulty in accessing affordable credit. He expressed concern over exchange rate instability, which makes it difficult for businesses to accurately predict the local currency cost of transactions denominated in foreign currencies. Dr Abaidoo called on the AfCFTA Secretariat to lead the push for a common currency and urged African governments to pursue measures to make this initiative feasible. The AfCFTA, now five years old, has provided the institutional framework for increased intra-African trade, but greater political cohesion is needed to translate this framework into full economic integration. Meanwhile, Stanbic Bank Ghana's Head of Corporate and Investment Banking, Mr Musah Abdallah, highlighted the Pan-African Payment and Settlement System (PAPSS) as an important mechanism for settling intra-African transactions and facilitating AfCFTA trade. He stressed the need for increased collaboration among banks and customers to scale up trade within the AfCFTA and for governments to work on removing trade barriers while financial regulators ensure the proper regulation of emerging technologies such as artificial intelligence and cryptocurrencies in support of financial stability and scalable trade.",
  "summary": "Ghanaian manufacturers have called for a common African currency to reduce exchange rate volatility and lower the cost of intra-African trade. The post AGI urges AfCFTA to advance common currency agenda appeared first on Ghana Business News .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}