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[Yusra31]

Mene concedes that hurdles will be experienced before the dream of a unified currency is realised, according to comments published lately by regional news outlet This Day. Mene, on the other hand, uses the situation before to the implementation of AFCFTA to demonstrate his own belief that this goal will be met soon. "People never imagined there would ever be a free trade area in Africa," he says.

The AFCFTA is a free trade zone that was established in 2018 and will begin trading on January 1, 2021. The AFCFTA agreement between 54 of the 55 African Union countries established the free trade zone. The secretary-general stated, "Using the history of AFCFTA's creation as a foundation for my enthusiasm,"

"But [AFCFTA] is now in place. As a result, I am optimistic that the African continent will one day have a unified currency. There are a number of issues to consider when it comes to macroeconomic convergence. Thankfully, the African Union (AU) has ministries that deal with the complications of achieving a unified currency for the continent. However, it is unquestionably a great step toward facilitating intra-African trade."

 

[ELSA-ELI]

One of the major problem is the langaunge barrier and political instability in some other African countries.Yiu cannot give free passage to certain people that could likely be terrosists.

 

[Razor1911]

One of the major problem is the langaunge barrier and political instability in some other African countries.Yiu cannot give free passage to certain people that could likely be terrosists.

That won't not be a concern because in Europe also we have Euro as common currency, still there are so many languages spoken all over Europe. So it is fairly possible even if we have linguistic differences.

 

[ELSA-ELI]

That won't not be a concern because in Europe also we have Euro as common currency, still there are so many languages spoken all over Europe. So it is fairly possible even if we have linguistic differences.

Yes you are right that langaunge barrier can be rectified but it has to be through an international statutory of instrument passed that the common langaunge to use is this one and this one.

The integration of various cultures in trade is already happening in Zambia the country I am residing in.We have a common market for east and southern where you have traders from the afore mentioned countries.

 

[Wisdom01]

How would it be adopted ,will the currency change in value because this seems almost impossible , because some country bad economic situation could worsen the currency ,I wonder how it's going to be adopted

 

[Makaliki]

Yes you are right that langaunge barrier can be rectified but it has to be through an international statutory of instrument passed that the common langaunge to use is this one and this one.

The integration of various cultures in trade is already happening in Zambia the country I am residing in.We have a common market for east and southern where you have traders from the afore mentioned countries.

The plan to introduce a common currency in Africa was started way back on 03/06/1991 based on the Abuja Treaty. It could be a danger assassination to economically weak countries.

 

[ELSA-ELI]

The plan to introduce a common currency in Africa was started way back on 03/06/1991 based on the Abuja Treaty. It could be a danger assassination to economically weak countries.

Common currency for the whole Africa would be good for Africa as it will come with lesser restrictions on cross boarder trade and movement as we will have a union that will break the visa barriers.So I think it would favour Africa.

Just that my personal opinion is the limiting and derailing factor has been on language,peace and security as at present.But I have not read officially what is stoping this agenda to effect.

By the way:What systems are you using to withdraw your funds in Zambia.Suprisingly the ones you had said no one uses them.There is Cex,Binance,paysera,payonner,wise and now yellocard for cryptography aswel.

 

[Makaliki]

Common currency for the whole Africa would be good for Africa as it will come with lesser restrictions on cross boarder trade and movement as we will have a union that will break the visa barriers.So I think it would favour Africa.

Just that my personal opinion is the limiting and derailing factor has been on language,peace and security as at present.But I have not read officially what is stoping this agenda to effect.

By the way:What systems are you using to withdraw your funds in Zambia.Suprisingly the ones you had said no one uses them.There is Cex,Binance,paysera,payonner,wise and now yellocard for cryptography aswel.

I use localcrytos only for selling to local Africans who can by using MTN/Airtel Money and to international traders using Western Union and Moneygram. That the only way I do it.

 

[Josemendez]

Common currency for Africans will help in inter trade but the question will be on the process of adoption , many African countries may not want such because of the effect it will have on them

 

[ELSA-ELI]

I use localcrytos only for selling to local Africans who can by using MTN/Airtel Money and to international traders using Western Union and Moneygram. That the only way I do

I use localcrytos only for selling to local Africans who can by using MTN/Airtel Money and to international traders using Western Union and Moneygram. That the only way I do it.

The ones you have mentioned do not allow low volume transactions and they also have huge charges or fees.Luno was the best.According to a reliable source yellow card is the one tailored for Zambians aswell just like Luno plus the kyc using an nrc is acceptable unlike most of these platforms that require a pasport.

Where ever you see me around here you can exchange your bmf,kwacha,payeer ,perfectmoney,crypto for a reasonable transaction volume.As low as K50 worth.

 

[Makaliki]

Common currency for the whole Africa would be good for Africa as it will come with lesser restrictions on cross boarder trade and movement as we will have a union that will break the visa barriers.So I think it would favour Africa.

Just that my personal opinion is the limiting and derailing factor has been on language,peace and security as at present.But I have not read officially what is stoping this agenda to effect.

By the way:What systems are you using to withdraw your funds in Zambia.Suprisingly the ones you had said no one uses them.There is Cex,Binance,paysera,payonner,wise and now yellocard for cryptography aswel.

The huge difference in economic performance to a race to the bottom called BBC 1997. Which will lead to high levels of unemployment in some areas while low in others.
Give your email and facebook link.

 

[ELSA-ELI]

The huge difference in economic performance to a race to the bottom called BBC 1997. Which will lead to high levels of unemployment in some areas while low in others.
Give your email and facebook link.

I will imbed a message through a 20bmf donation as to the contacts that I am using for my online projects.Thanks.

 

[btaliat]

This is one of the visions of the late Gaddafi. He wanted a united Africa that will have everything in common just like the European Union. Unfortunately, lack of political will and language barrier couple with vision less leaders have impaired the idea. I cannot imagine how beneficial this would have been. But I wish they can still come in terms by adopting a common crypto coin to make Africa free from the shackle of neo colonialism.

 

[Makaliki]

1991 Abuja Treaty on Africa using a single currency has good merits and it is also toxic. For it will boost the African Internal trading patterns and Africa will be no longer need external assistance (AID). On the other hand, other nations on the continent are still facing authoritarianism, economic downfall due to over-borrowing from the west and China, terrorism, internal wars and soon on. The idea can be a lethal disaster to their already fallen economies.

 

[Skysaint]

Although this idea might seem very welcoming to me as such are in existence in other places but I think there's more to this. This might pose a threat to the regions that are not doing so well and might worsen their situation which will inevitably effect the value of the general (African) currency.
But if there's a way to circumvent this challenge then it might just be the ideal decision to consider as it's already in place in other places outside Africa

 

[Balint098]

Before even thinking of a unified currency, I think they really should think about how to get rid of corruption, poverty, civil warfare, starvation, and many more serious problems in the region. Before anything else, unified digital currency requires good tech infrastructure that can support such technology, which currently Africa doesn't have.