Ivorian President Alassane Ouattara, speaking alongside his French counterpart Emmanuel Macron, announced the reform of the long-disputed CFA franc on Saturday, a currency that is used in eight nations in West Africa. The agreement with France and the Monetary Union of West Africa (UEMOA), which is currently led by Ouattara,…
By Piotr Arak AT Contributor The process of increasing international trade in Africa and decreasing barriers that can foster growth resembles the goals and policies introduced successfully in Europe. This year Africa will take a big step towards tackling entrenched economic problems including a dearth of intra-regional trade as the…
President Emmerson Mnangagwa said Tuesday that the country’s decision to return to a single Zimbabwean currency is part of a suite of decisions meant to stabilize the economy – but the abrupt decision to make other currencies illegal, effective immediately, has caught many off guard. Mnangagwa said the use of…
President Muhammadu Buhari of Nigeria is headed for Niger to discuss progress on a long-awaited common currency for the region’s West African Monetary Zone (WAMZ). Buhari, along with Minister of Finance Kemi Adeosun and Nigerian Central Bank head Godwin Emefiele, leave Tuesday for Niamey along with other common currency task…
The Central Bank of Somalia (CBS) is moving forward with plans to introduce new banknotes meant to stabilize an economy dragged down by, among other things, the widespread use of counterfeit cash. Bashir Isse Ali, head of the CBS, said at a Thursday press conference that plans for printing the…
Protests over economic conditions in Liberia entered their second day on Wednesday as sign-waving marchers again converged on the capitol building in Monrovia. The protests are part of a three-day action led by the Patriotic Entrepreneurs of Liberia (PATEL), who want to call attention to the plight of business owners who…
President Robert Mugabe of Zimbabwe delivered his State of the Nation address Tuesday, in a short speech that skimmed atop the surface of the country’s spiraling economic and political challenges. In Harare, the 92-year-old Mugabe spoke for just 28 minutes while addressing parliament in a chamber that frequently burst into…
An attack early Friday on activists planning a protest in Zimbabwe has met with a sharp criticism of human rights violations from The European Union mission in Harare. The EU officials, as well as the Head of Mission of Switzerland, were responding to the abduction reports of Patson Dzamara amid…
EU rules on Morocco, Western Sahara trade amid escalating tensions A European Union judge has ruled that key trade agreements between the EU and Morocco do not apply to the disputed Western Sahara territory, adding that the Polisario Front’s authority – while recognized by the international community in negotiation of…