All economic information of African countries
The idea of freeing itself from the US dollar is not new in Africa, but it has gained ground in recent years. In a context marked by high volatility of local currencies, constraints on access to financing in hard currencies and a persistent dependence on imports denominated in dollars, the issue deserves an in-depth analysis. And if abandoning the greenback is more complex than it seems, alternatives have emerged in recent years on the continent.
In response to Western sanctions, Moscow has already convinced some of its major trading partners like India and China to step up the use of national currencies in mutual settlements.
Despite its small share of cryptocurrency transactions recorded globally, sub-Saharan Africa is home to some of the most developed markets on the planet, including Nigeria and Kenya.
