SA has ‘no ambition to unseat the dollar’ - Godongwana
Finance Minister Enoch Godongwana says South Africa has no ambition to unseat the dollar.
He was speaking to the media on the sidelines of the 15th BRICS summit, which wrapped up at the Sandton Convention Centre on Thursday.
The conversation around de-dollarisation and exploring local currency was one of the topics on the agenda.
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The group of emerging economies wants to assert its voice in global affairs.
President Cyril Ramaphosa has said that the bloc's finance ministers and central bank governors would consider the issue of local currencies, payment instruments and platforms.
"We have got no ambition to unseat the dollar. We want to place that on record," Godongwana said.
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"Our ambition is to pay whatever we pay in DRC in terms of the currency. If you buy things in South Africa, you buy using the rand.
"It is going to be difficult for countries that trade largely with the Western world to say they can unseat the dollar, like South Africa, because I still trade with them heavily," he said.
