Africa needs a single currency

backstreetboy said:
Not if you make it a digital currency, Mobile payments are already huge in Africa.
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Duh. This isn't about ease of transacting but about cooperation. It will still be a game of catch up to what could have been achieved by now.
 
saturnz said:
fiat currency is a mechanism for theft

what Africa needs is a currency backed 100% by commodity money, something that Gadaffi wanted to do- and look how far that got him

I lean more to what Dawie Roodt said a few years ago- remove the borders.
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The thing is that politicians will never agree to a currency that they can't control or manipulate. And most African countries have antiquated foreign exchange controls to stop capital flight that will be undermined by a decentralised currency. Even now the Reserve Bank is moaning about people circumventing exchange controls with Bitcoin.
 
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Dude needs a wakeup call.
Shows how deranged a former bank CEO could be. Greedy cnts. They will benefit. Not Africa.

Crazy mofo
 
In other news, the South African government is considering a once off wealth tax after they lost their Trezor wallet last June on a diplomatic visit to Russia.
 
Pity the rand has been run to the ground by the ANC recently, this could have an excellent opportunity for a pseudo-colonial hegemony for South Africa.
 
Polymathic said:
Pity the rand has been run to the ground by the ANC recently, this could have an excellent opportunity for a pseudo-colonial hegemony for South Africa.
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The way things are going Africa will probably adopt the Dollar. So much for anti-colonialism when that's the only stable thing you can come up with. :ROFL:
 
saturnz said:
fiat currency is a mechanism for theft

what Africa needs is a currency backed 100% by commodity money, something that Gadaffi wanted to do- and look how far that got him

I lean more to what Dawie Roodt said a few years ago- remove the borders.
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No, his tyranny and terrorism got him to where he was along with his corruption and lack of care for his voters. They got gatvol and the rest is history.
 
Hanno Labuschagne said:
Africa needs a single currency

A single currency for Africa will make it much easier to trade and invest across the continent, but because all countries are unlikely to agree on a central bank or monetary policy it will likely have to be a decentralised cryptocurrency.

This is the view of Montegray Capital founder, venture capitalist, and former FNB CEO, Michael Jordaan.

Jordaan said intra-African trade – trade between countries in Africa - and not foreign aid, is the key to sustainable development in Africa.
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Kentucky Fried Coin
 
Not sure I'd trust the other 53 countries to not print on the sly.

When you benefit 100% but the inflationary effect hits everyone it makes a lot of sense to
 
Hanno Labuschagne said:
Africa needs a single currency

A single currency for Africa will make it much easier to trade and invest across the continent, but because all countries are unlikely to agree on a central bank or monetary policy it will likely have to be a decentralised cryptocurrency.

This is the view of Montegray Capital founder, venture capitalist, and former FNB CEO, Michael Jordaan.

Jordaan said intra-African trade – trade between countries in Africa - and not foreign aid, is the key to sustainable development in Africa.
Click to expand...

The currency be better of good rubber that can stretch in all directions, it will probably be torn apart in no time with dire consequences for most, and another 10 years down the drain.
 
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