Zuma, who served as South Africa’s head of state from 2009 to 2018, arrived in Accra to a warm welcome from university officials, students, and dignitaries. His lecture focused on Africa’s economic future in the context of global power shifts, highlighting the urgent need for financial independence to complement political liberation.
In his keynote address, Zuma argued that Africa’s dependence on the U.S. dollar and other foreign currencies for trade undermines its sovereignty and perpetuates external control over African economies.
“Every time we trade in dollars, euros, or pounds among ourselves, we give away a piece of our independence. Africa cannot be free while its financial systems are tied to the very structures that colonized us,” Zuma told the audience.
He stressed that a single African currency would lower transaction costs, stabilize markets, and accelerate the success of the African Continental Free Trade Area (AfCFTA), which aims to unite Africa into the world’s largest free trade zone.
The UPSA Annual Leadership Lecture has become one of West Africa’s foremost platforms for critical dialogue between political leaders, academics, policymakers, and students. Past editions have hosted influential figures across governance, diplomacy, and economics. The 2025 lecture drew hundreds of participants, including government representatives, business leaders, and international observers, eager to reflect on Zuma’s Pan-African vision.
Professor Abednego F. Okoe Amartey, Vice-Chancellor of UPSA, underlined the significance of Zuma’s presence, noting that the lecture series is not only about sharing ideas but about equipping the next generation of Africans with the courage to reimagine leadership and development models.
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Au Ghana, Jacob Zuma relance le débat sur une monnaie unique africaine
While Jacob Zuma’s presidency in South Africa remains a subject of debate, with critics recalling corruption scandals and economic difficulties, his longstanding Pan-Africanist perspective continues to resonate across the continent.
In Accra, Zuma placed his arguments within a historical continuum, invoking the legacy of Africa’s independence leaders. He reminded the audience that the dream of unity and economic self-reliance was at the core of the Pan-African vision articulated by Kwame Nkrumah, Ghana’s first president.
“Kwame Nkrumah told us that political freedom without economic freedom is incomplete. Today, we must fulfill that unfinished task by building African-owned systems — banks, trading platforms, and ultimately one currency — that will secure our dignity and our children’s future,” Zuma said.
Hosting the lecture in Accra carried symbolic weight. Ghana holds a special place in the history of Pan-Africanism as the first sub-Saharan African nation to gain independence in 1957 under Nkrumah’s leadership. Accra became a hub for liberation movements and a meeting point for thinkers and activists advocating African unity.
It was in Ghana that the Organization of African Unity (OAU), the precursor to today’s African Union (AU), found some of its earliest inspiration. Nkrumah, who famously declared that the independence of Ghana was meaningless unless it was linked to the total liberation of Africa, also advocated for a “United States of Africa” with a common currency, army, and foreign policy.
By delivering his call for a single African currency in Accra, Zuma not only echoed Nkrumah’s vision but also connected contemporary economic debates to Africa’s liberation heritage. For many in attendance, the setting amplified the urgency and legitimacy of his appeal.
Experts at the lecture acknowledged that achieving a single African currency remains an immense challenge. Harmonizing monetary and fiscal policies across 55 diverse economies is a formidable task, complicated by disparities in economic stability, governance, and institutional strength. Yet, regional experiments — such as the West African CFA franc zone and the East African Community’s monetary integration agenda — demonstrate that gradual progress is possible.
Zuma, however, insisted that political will must come first:
“If Europe, with its wars and divisions, could create the euro, why can’t Africa, with its shared history and destiny, build its own currency?” he asked.
The 8th UPSA Leadership Lecture once again highlighted the university’s growing role as a hub for thought leadership and policy dialogue on the continent. For students and young professionals, Zuma’s remarks served as both a challenge and an inspiration to take ownership of Africa’s future.
As discussions about Africa’s economic integration continue, Zuma’s intervention in Ghana tied together the past and the future — reminding Africans that the unfinished dreams of Nkrumah and other liberation leaders remain alive, awaiting a new generation to make them real.
