I dont kmow alot about economics so i came here to get educated. I saw a video about a kenyan scholar (Lumumba) speaking about this and it got me thinking about Africa's instability and how the currencies in all 54 countries are usually not usable outside of said country. Which results in african countries relying and valueing non african currencies more. For example the dollar in Sudan is extremely valued to where you would have to go to the black market to get it in cash. Now to my actual question. Wouldnt creating a currency which is used across africa fix this instability? Similarly to how the euro is used all over europe. Or the dollar in the world, or recently added chinese yuan in certain places. I understand why this hasnt occured due to corruption and other issues but i dont know if it is possible or ideal. Im Scottish-Sudanese but when i used to live in sudan i couldnt take a flight to egypt or ethiopia and use the sudanese pound.
New general African currency?
byu/farticus-fartfart inAskEconomics
Posted by farticus-fartfart