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African Currency
African currency was originally formed from basic items, materials, animals and even people available in the locality to create a medium of exchange. This started to change from the 17th century onwards, as European colonial powers introduced their own monetary system into the countries they invaded. As African countries achieved independence during the 20th century, some retained the new denominations that had been introduced, though others renamed their currencies for various reasons. Today, inflation often creates a demand for more stable (but forbidden) foreign currency, while in rural areas the original bartering system is still in widespread usage. As of 1 March 2019, the Libyan dinar (LYD) has the strongest currency in Africa. History Pre-colonial era In pre-colonial times, many objects were sometimes used as currency in Africa. These included shells, ingots, gold (gold dust and gold coins (the Asante)), arrowheads, iron, salt, cattle, goats, blankets, axes, beads, and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Medium Of Exchange
In economics, a medium of exchange is any item that is widely acceptable in exchange for goods and services. In modern economies, the most commonly used medium of exchange is currency. The origin of "mediums of exchange" in human societies is assumed to have arisen in antiquity as awareness grew of the limitations of barter. The form of the "medium of exchange" follows that of a token, which has been further refined as money. A "medium of exchange" is considered one of the functions of money. The exchange acts as an intermediary instrument as the use can be to acquire any good or service and avoids the limitations of barter; where what one wants has to be matched with what the other has to offer. Most forms of money are categorised as mediums of exchange, including commodity money, representative money, cryptocurrency, and most commonly fiat money. Representative and fiat money most widely exist in digital form as well as physical tokens, for example coins and notes. Overcom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South African Rand
The South African rand, or simply the rand, ( sign: R; code: ZAR) is the official currency of the Southern African Common Monetary Area: South Africa, Namibia (alongside the Namibian dollar), Lesotho (alongside the Lesotho loti) and Eswatini (alongside the Swazi lilangeni). It is subdivided into 100 cents (sign: "c"). The South African rand is legal tender in the Common Monetary Area member states of Namibia, Lesotho and Eswatini, with these three countries also having their own national currency (the dollar, the loti and the lilangeni respectively) pegged with the rand at parity and still widely accepted as substitutes. The rand was also legal tender in Botswana until 1976, when the pula replaced the rand at par. Etymology The rand takes its name from the Witwatersrand ("white waters' ridge" in English, ''rand'' being the Dutch and Afrikaans word for 'ridge'), the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found. In Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Africanews
Africanews is a French multilingual news network, formerly headquartered in Pointe-Noire, Republic of the Congo. Budget concerns caused by the coronavirus forced the channel to permanently shift operations to a small newsroom at the headquarters of sister channel Euronews in Lyon, France. The news channel began broadcasting online, and via TV and satellite on 20 April 2016. The newsroom has 30 journalists and around 55 technical staffers. Broadcast Like its sister channel Euronews, Africanews runs news and weather summaries every half-hour. Languages Currently, the programs are broadcast in both English and French - most on-screen graphics and captions are bilingual. The channel plans to expand and accommodate most of the continents' population and plans to roll out Swahili, Arabic, Dutch, Spanish and Portuguese content soon in 2022/2023. Distribution The channel currently is broadcast in 33 sub-Saharan countries and is accessible to 7.3 million homes via satellite ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eco (currency)
The eco is the name for the proposed common currency of the Economic Community of West African States (ECOWAS). Plans originally called for the West African Monetary Zone (WAMZ) states to introduce the currency first, which would eventually be merged with the CFA franc which is used by the French-speaking west African region within the West African Economic and Monetary Union (UEMOA). This will also enable the UEMOA states to gain complete fiscal and monetary independence from France. The UEMOA states have alternatively proposed to reform the CFA franc into the eco first, which could then be extended to all ECOWAS states. Ten criteria For the Eco to be implemented, ten convergence criteria, set out by the West African Monetary Institute (WAMI), must be met. These criteria are divided into four primary and six secondary criteria. Up to the fiscal year 2011, only Ghana has been able to meet all the primary criteria in any single fiscal year. The four primary criteria to be achie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West Africa
West Africa or Western Africa is the westernmost region of Africa. The United Nations defines Western Africa as the 16 countries of Benin, Burkina Faso, Cape Verde, The Gambia, Ghana, Guinea, Guinea-Bissau, Ivory Coast, Liberia, Mali, Mauritania, Niger, Nigeria, Senegal, Sierra Leone, and Togo, as well as Saint Helena, Ascension and Tristan da Cunha ( United Kingdom Overseas Territory).Paul R. Masson, Catherine Anne Pattillo, "Monetary union in West Africa (ECOWAS): is it desirable and how could it be achieved?" (Introduction). International Monetary Fund, 2001. The population of West Africa is estimated at about million people as of , and at 381,981,000 as of 2017, of which 189,672,000 are female and 192,309,000 male. The region is demographically and economically one of the fastest growing on the African continent. Early history in West Africa included a number of prominent regional powers that dominated different parts of both the coastal and internal trade networks, suc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West African Monetary Zone
The Economic Community of West African States (ECOWAS; also known as in French and Portuguese) is a regional political and economic union of fifteen countries located in West Africa. Collectively, these countries comprise an area of , and in 2015 had an estimated population of over 349 million. Considered one of the pillar regional blocs of the continent-wide African Economic Community (AEC), the stated goal of ECOWAS is to achieve "collective self-sufficiency" for its member states by creating a single large trade bloc by building a full economic and trading union. The union was established on 28 May 1975, with the signing of the Treaty of Lagos, with its stated mission to promote economic integration across the region. A revised version of the treaty was agreed and signed on 24 July 1993 in Cotonou. The ECOWAS also serves as a peacekeeping force in the region, with member states occasionally sending joint military forces to intervene in the bloc's member countries at times ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
News24 (website)
News24 is an English-language South African news website created in October 1998 by the multinational media company, Naspers. Its team of approximately 100 journalists, led by editor-in-chief Adriaan Basson, are based in Cape Town, Johannesburg, Pretoria, Durban and Gqeberha. Its brands include Fin24, Sport24, Channel24, Health24, Arts24, Parent24, Wheels24, W24, Ride24 and Business Insider SA. News24 is owned by Media24, a South African media company, with interests in digital media and services, newspapers, magazines, e-commerce, book publishing, print and distribution. In August 2021, News24 launched a digital subscription service that offers premium investigative journalism, opinion, analysis and more to paying subscribers at R75 per month. It currently has more than 40 000 subscribers. History News24 was launched in October 1998 as part of Naspers’ new internet strategy under the company's new managing director at the time, Koos Bekker. According to the APP Annie's bu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
African Continental Free Trade Area
The African Continental Free Trade Area (AfCFTA) is a free trade area encompassing most of Africa. It was established in 2018 by the African Continental Free Trade Agreement, which has 43 parties and another 11 signatories, making it the largest free-trade area by number of member states, after the World Trade Organization, and the largest in population and geographic size, spanning 1.3 billion people across the world's second largest continent. The agreement founding AfCFTA was brokered by the African Union (AU) and signed by 44 of its 55 member states in Kigali, Rwanda on 21 March 2018. The proposal was set to come into force 30 days after ratification by 22 of the signatory states. On 29 April 2019, the Saharawi Republic made the 22nd deposit of instruments of ratification, bringing the agreement into force on May 30; it entered its operational phase following a summit on 7 July 2019, and officially commenced 1 January 2021. AfCFTA's negotiations and implementation are ove ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wamkele Keabetswe Mene
Wamkele Mene is the Secretary General of the African Continental Free Trade Area (AfCFTA) Secretariat. In February 2020, he was elected as the first Secretary General of the African Continental Free Trade Area Secretariat. Early life and education Wamkele was born and raised in Uitenhage, Eastern Cape Province. He attended Marymount High School, before changing schools and enrolled at Trinity High School. He graduated with a B.A Law from the Rhodes University. He obtained an M.A. in International Studies and Diplomacy from the School of Oriental & African Studies and an LL.M in Banking Law and Financial Regulation from the London School of Economics and Political Science. Career He previously served as the Head of Mission to the World Trade Organisation for South Africa South Africa, officially the Republic of South Africa (RSA), is the southernmost country in Africa. It is bounded to the south by of coastline that stretch along the South Atlantic and Indian Oceans; ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euro
The euro ( symbol: €; code: EUR) is the official currency of 19 out of the member states of the European Union (EU). This group of states is known as the eurozone or, officially, the euro area, and includes about 340 million citizens . The euro is divided into 100 cents. The currency is also used officially by the institutions of the European Union, by four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia, as well as unilaterally by Montenegro and Kosovo. Outside Europe, a number of special territories of EU members also use the euro as their currency. Additionally, over 200 million people worldwide use currencies pegged to the euro. As of 2013, the euro is the second-largest reserve currency as well as the second-most traded currency in the world after the United States dollar. , with more than €1.3 trillion in circulation, the euro has one of the highest combined values of banknotes and coins in c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
African Currency Unions
African or Africans may refer to: * Anything from or pertaining to the continent of Africa: ** People who are native to Africa, descendants of natives of Africa, or individuals who trace their ancestry to indigenous inhabitants of Africa *** Ethnic groups of Africa *** Demographics of Africa *** African diaspora ** African, an adjective referring to something of, from, or related to the African Union ** Citizenship of the African Union ** Demographics of the African Union **Africanfuturism ** African art ** *** African jazz (other) ** African cuisine ** African culture ** African languages ** African music ** African Union ** African lion, a lion population in Africa Books and radio * ''The African'' (essay), a story by French author J. M. G. Le Clézio * ''The African'' (Conton novel), a novel by William Farquhar Conton * ''The African'' (Courlander novel), a novel by Harold Courlander * ''The Africans'' (radio program) Music * "African", a song by Peter Tosh f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rhodesian Dollar
The Rhodesian dollar (''R$ or Rh$'', ) was the currency of Rhodesia between 1970 and 1980. It was subdivided into 100 cents. History The dollar was introduced on 17 February 1970, less than a month before the declaration of a republic on 2 March 1970. It replaced the Rhodesian pound at a rate of 2 dollars to 1 pound. The dollar proved to be a strong currency, at parity with the pound sterling right up to the very end of Rhodesia in 1980, when it was replaced by the Zimbabwean dollar at par. However, the Rhodesian dollar was never a fully convertible currency and its exchange rate was therefore not an indication of the underlying economics. Half pound In adopting the Rhodesian dollar, Rhodesia followed the pattern of South Africa, Australia, and New Zealand in that when it adopted the decimal system, it decided to use the half pound unit as opposed to the pound unit of account. The choice of the name dollar was favoured by the then Minister of Finance, John Wrathall, who regard ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
