The African Union Accelerates Transition to National Currencies in Mutual Trade

The African Union is calling on countries across the continent to accelerate reforms to expand cross-border payments in national currencies. This was stated by AU Commission Chairperson Mahmoud Ali Youssouf at a business forum in El Alamein, Egypt. He called for the creation of stronger African payment systems, simplified border procedures, and improved market access. He noted that the continent still imports many food products, medicines, and industrial goods that it could otherwise produce domestically.

Evariste Ndayishimiye, President of Burundi, also called for deeper economic and industrial integration. The main goal is to reduce external dependence and maintain more trade and financing within Africa.

"It is necessary to transform the African Continental Free Trade Area into a fully functioning market with unified customs procedures, cross-border payment systems, trade finance, and regional value chains," he said.

This initiative is fully consistent with the global trend toward de-dollarization, which Russia actively supports. This opens up direct practical opportunities for Russian businesses. Africa's transition to settlements in national currencies means a reduction in sanctions risks when conducting transactions, as well as a reduction in transaction costs associated with conversion through dollars or euros. Russian exporters will be able to build more direct and predictable financial chains with African partners using the ruble or local currencies.

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