NAIROBI, Jan 31 (Reuters) - Africa's development bank is proposing a new 'gold standard' style currency arrangement backed by critical minerals such as cobalt, copper, lithium, manganese and some ...

Currency difficulties are one of the biggest obstacles to intra- African trade. Big contracts are often conducted in US dollars or other non-African hard currencies but there is a lack of these across ...

The African Development Bank (AfDB) has unveiled a proposal for a new “gold standard” currency arrangement that would be backed by Africa’s critical minerals—such as cobalt, copper ...

The airlines’ fiasco is one case that was overly amplified. The reality is that Africa is a hotspot of suffering for multinationals. One major contributing factor is the currency crisis. Essentially, ...

A single currency would not only help to boost economic growth in Africa, but also bring greater stability, reduce the cost of doing business, and increase the competitiveness of African products ...

It also made him a symbol of the struggle against the CFA franc, a currency used in 14 countries across West and Central Africa. Anti-CFA demonstrations are not rare in these parts of Africa. In 2015, ...

In addition, a currency union can exert external discipline on fiscal policies. The desire for a monetary union also speaks to a deep-seated desire for greater economic integration among the countries ...

Russia is increasingly prioritizing Africa as a key region for expanding ... and Ethiopia to its list of currency trading partners, thereby strengthening its collaboration with these countries.

In West Africa, they reflect the complex legacies of colonial rule and decolonisation. It was once popular to refer to a “currency revolution”, in which colonial coins and notes displaced indigenous ...