South Africa is in full support of establishing a single African currency backed by the continental central bank and monetary institute.According to International Relations and Cooperation Minister Naledi Pandor, the establishment of the African Union’s (AU) African Central Bank (ACB), African Investment Bank (AIB) and the African Monetary Institute (AMI) are considered critical to facilitateContinue reading “SA WANTS SINGLE AFRICAN CURRENCY TO BOOST INTRA-CONTINENTAL TRADE”
Tag Archives: Single Currency
Single Currency coming to East Africa
East African countries will start using a single currency by 2024. Forms East African Central Bank EAST African Community (EAC) states are aspiring for a single EAC currency by 2024. Tanzania, Kenya and Uganda are determined to merge their respective shillings with Rwanda and Burundian Francs to form the single legal tender for the blocContinue reading “Single Currency coming to East Africa”
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