A single unified currency system for the African Union?

September 30, 2019

The African Union is considered to adopt a single unified currency system within 2021; most probably linked to Chinese yuan. Nigeria, the top GDP and most populated nation of Africa, adopted the yuan as a commercial reserve currency. The African country made a currency exchange worth USD 2.5 billion in yuan in 2018 to facilitate trade with Beijing. In 2018 fourteen African countries and seventeen central banks gathered in Zimbabwe to adopt the yuan as a currency reserve.

 

 

 

 

 

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