Youth Group Advocates Single Currency for African Countries

Youth Group Advocates Single Currency for African Countries

By Chinedu Echianu in Abuja     

Following the global economic downturn which has impacted negatively on most currencies across the globe, there is need for African states to consider a single currency which is believed to have the capacity to withstand pressure as have been witnessed in the CFA Franc used by some African countries.

This was the view of Osisiogu Osikenyi, the Co-convener of the United Youth of Africa (UYA) at a press conference in Abuja where he highlighted some of the major challenges faced by young people in Africa and how the newly established youth group is planning on taking the challenges head on.

He explained that the Press Conference was a precursor to the official launch of the United Youth of Africa initiative, a brainchild of Daysman Oyakhilome, nephew to the founder of LoveWorld Incorporated popularly known as Christ Embassy, Chris Oyakhilome.

According to Osikenyi, "Africa has the youngest population in the world with more than 400 million young people aged between the ages of 15 to 35. Such a youthful population calls for an increase of investment in economic and social development factors, in order to improve the development index of African nations.

"The Africa Union (AU) has developed several youth development policies and programmes at continental level aimed at ensuring the continent benefits from it's demographic dividend. The policies include the African Youth Charter, Youth Decade Plan of Action, and the Malabo Decision on Youth Empowerment, all of which are implemented through various AU Agenda 2063 Programmes."

Osikenyi however insisted that the great innovations by the AU to better the life of young people in the continent will not make any significant impact if the economy of most African states remain in shambles thereby leading to massive migration of young Africans to Europe, America, Asia and other parts of the world in search of greener pasture.

He stated that the idea of a single currency for Africa is long overdue as it would ensure greater integration of the economies of African states as envisaged in the Africa Continental Free Trade Zone agreement; "Of all the currencies falling in Africa, you'd agree with me that the CFA has done probably better than others because about fourteen countries use it, this is exactly why an organization like United Youth of Africa is coming together to position ourselves by bringing together all youth groups in the continent to push for economic policies such as the single currency initiative for the betterment of the economy of Africa" he said.

Osikenyi revealed that thirty six Youth Organisations from over fifteen countries of the continent namely; Nigeria, Namibia, Ghana, Morocco, Senegal, Ethiopia, The Gambia, Benin Republic, South Africa and Niger among others converged on Abuja for the proclamation of the United Youth of Africa Movement with the aim of proffering solutions to African problems that are both Afrocentric and fashioned in a manner that they carry along the youth of Africa.


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