As outlined in Agenda 2063, the African Union believes that a successful monetary union on the African continent is an essential prerequisite for the full implementation of the AfCFTA. The challenges of forming a monetary union and the convergence criteria to create such must be investigated to determine whether an African Monetary Union is feasible. Challenges include the formulation of a shared monetary policy and the establishment of a common central bank as well as a single currency for Africa. Achieving a small deficit in the current account and a common interest rate for all African countries may also be problematic. The author argues that an African customs union is more achievable than an African monetary union, and the focus in Africa should preferably be on the former. This would be in accord with the AfCFTA agreement that determines in Article 3(d) that one of the general objectives of the AfCFTA is to lay the foundation for establishing a Continental Customs Union.