Today, 41 currencies are used across Africa, and this diversity harms countries’ economies. Currencies are hard to access and lack liquidity for trade. Many African countries don’t control their own currencies. After independence, they inherited monetary systems from their colonisers, leaving them without control over their economies. Many countries are also tied to the dollar. In Zimbabwe, the U.S. dollar is used alongside the national currency. Most central banks in Africa base the strength of their currencies on the dollar. How is the push for a single African currency progressing? What challenges remain? Can Africa regain control over its economy?
Common African currency
