The African Export-Import Bank (Afreximbank) is exploring ways to promote inter-African trade through one common continental currency. Speaking at the bank’s Trade Finance Seminar 2024 in Windhoek this week, Afreximbank research economist and senior manager Anthony Coleman said the bank is currently conducting a study to understand how a single currency could streamline trade across Africa, drawing inspiration from the European model. “We are looking at the exchange rate mechanism and exploring the potential of introducing a single currency to foster inter-African trade,” said Coleman. “This study is already underway, and we hope its findings will provide clear recommendations for advancing the idea in a practical, effective way.” Coleman, however, said a shared currency comes with challenges, particularly in terms of aligning the economic policies of African countries. There is
Author Archives: Shania Lazarus
Nov
Foereign investors in different projects across Namibia have praised the country as being easy to do business in. Otjimbele project chief executive Carlos Aretxaga, speaking during a media briefing last week, said Namibia is an organised country with clear policies in place when it comes to doing business. “The policies and the legal framework are really clear: There is a rule of law and this is the first thing that is required for any investor to come and invest in a country,” said Aretxaga. “Sometimes they [investors] are scared of Africa mainly because they feel there is this uncertainty on the policy side. On the legal side, however, Namibia has a very clear legal framework, and this is actually what eases the business,” he said. However, he said there is