S. Africa could have single currency by 2016

A plan to better integrate markets of southern African countries may lead to a single currency managed by a single central bank by 2016.

Tito Mboweni, governor of the South African Reserve Bank, said in an interview preparations for introducing a free trade area in the Southern African Development Community (SADC) have been underway.

Protocols have already been signed and others in the works would bind future governments of 13 SADC states and their central banks to follow through on the program

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