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By Newz.Africa, Business Desk | 26 March 2026 |Addis Ababa| African Currency Sovereignty
South Africa’s Portfolio Committee on International Relations and Cooperation has urged the adoption of a single African currency. The call followed a briefing on South Africa’s role at the 39th Ordinary Session of the African Union (AU) Assembly, held in Addis Ababa in February 2026. The committee emphasised sovereignty and unity as central to Africa’s global position in governance, peace, and economic integration.
What’s Happening
The AU Assembly convened in Addis Ababa, Ethiopia, from 14 to 15 February 2026 under the theme “Assuring Sustainable Water Availability and Safe Sanitation Systems to Achieve the Goals of Agenda 2063”.
South Africa co-hosted a session with the AU Commission and the International High-Level Panel on Water Investment for Africa. The session focused on sustainable water management aligned with Agenda 2063 priorities. The country also participated in the launch of ACHIEVE Africa. This initiative is designed to strengthen research and development capacity for vaccine and therapeutic sovereignty.
The committee noted South Africa’s re-election to the AU Peace and Security Council, underscoring its commitment to continental peace and stability.
In addition, the committee received an update on South Africa’s participation in the G20. Members heard that the AU Assembly adopted a declaration criticising South Africa’s exclusion from the G20 during the United States’s presidency in 2026. The declaration urged inclusivity and equality of participation. It called on the US to facilitate arrangements that reinforce the G20’s credibility and effectiveness.
Committee Chairperson Mr Supra Mahumapelo stated: “South Africa must maintain and safeguard its sovereignty and raise the bar in global governance. Africa must retain its sovereignty. Our energy and resources must be used to propel member states to make Africa one, as a single entity that will strengthen the African Union and Africa’s position on the globe.”
Newz.Africa Analysis
The committee’s positionshows a broader continental push for sovereignty across multiple domains: water security, health independence, peace, and economic integration.
Agenda 2063 Context
Agenda 2063, adopted by the AU in 2013, sets out Africa’s long-term vision for inclusive growth, sustainable development, and continental integration. The Addis Ababa session’s focus on water and sanitation reflects one of its core priorities. It emphasises ensuring basic infrastructure and services as foundations for prosperity. South Africa’s co-hosting role signals its intent to align national priorities with continental goals, particularly in resource management and climate resilience.
Health Sovereignty
The launch of ACHIEVE Africa represents a strategic step towards reducing reliance on external pharmaceutical supply chains. By investing in vaccine and therapeutic research capacity, African states aim to secure autonomy in responding to health crises. This initiative complements the committee’s emphasis on sovereignty, positioning health independence alongside economic and political integration.
Peace and Security
South Africa’s re-election to the AU Peace and Security Council reinforces its established role in mediation and conflict resolution. The council is central to the AU’s peace architecture, and South Africa’s continued presence ensures it remains a key player in shaping continental stability. This mandate strengthens its credibility in advocating for broader integration measures, including currency unification.
Currency Integration Debate
The committee’s call for a single African currency revives a long-standing debate within the AU. Proposals for monetary union have circulated for decades, with the African Monetary Institute and African Central Bank envisioned under Agenda 2063. Advocates argue that a unified currency would reduce transaction costs, stabilise exchange rates, and enhance Africa’s bargaining power in global markets. Critics caution that economic disparities between member states, fiscal discipline challenges, and political coordination remain significant obstacles.
By placing currency integration on the agenda, the committee aligns South Africa with a vision of deeper continental unity. The statement suggests that sovereignty is not only about political independence but also about financial autonomy and collective strength.
Global Governance and G20 Exclusion
The AU Assembly’s declaration on South Africa’s exclusion from the G20 highlights tensions in global governance structures. The committee described the exclusion as irregular. They noted that the US participated in some G20 activities while declining to engage in the handover process. The AU’s collective response underscores Africa’s demand for equal participation in global forums. It reinforces the committee’s call for sovereignty and unity.
Implications and Next Steps
The committee’s stance suggests several implications:
- Economic Policy: South Africa may push for greater discussion of monetary integration within AU structures, potentially accelerating work on the African Monetary Institute.
- Diplomatic Strategy: The exclusion from the G20 could drive South Africa to strengthen alliances within the AU, using continental unity as leverage in global negotiations.
- Development Agenda: Initiatives such as ACHIEVE Africa and water investment partnerships demonstrate how sovereignty debates are tied to practical development goals.
The next steps will depend on how the AU Assembly prioritises currency integration in upcoming sessions. While implementation remains complex, the committee’s statement positions South Africa as a vocal advocate for unity across economic, political, and developmental spheres.
Original Reporting
Newz.Africa reviewed the official Parliamentary Communication Services statement issued on 25 March 2026. The statement records the committee briefing, South Africa’s role at the AU Assembly and direct remarks by Chairperson Mr Supra Mahumapelo on sovereignty and a single African currency.
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