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List Of Currencies In Africa
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 restoration or 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. 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 many others. In the early 19th century a slave could be bought i ... [...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. 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. The origin of "mediums of exchange" in human societies is assumed by economists, such as William Stanley Jevons, 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 ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South African Rand
The South African rand, or simply the rand, (currency sign, sign: R; ISO 4217, code: ZAR) is the official currency of South Africa. It is subdivided into 100 Cent (currency), cents (sign: "c"), and a comma separates the rand and cents. 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 national currencies: (the Namibian dollar, dollar, the Lesotho loti, loti and the Swazi lilangeni, 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 Botswana pula, pula replaced the rand at par. The rand is legal tender in Zimbabwe as part of its multiple currency system, which also includes other currencies such as the euro, the pound sterling, the US dollar, and the Zimbabwean ZiG. Etymology The rand takes its name from the Witwatersrand ("white waters' ridge" in English, being t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West Africa
West Africa, also known as Western Africa, is the westernmost region of Africa. The United Nations geoscheme for Africa#Western Africa, 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 Territories, 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 around million people as of , and at 381,981,000 as of 2017, of which 189,672,000 were female and 192,309,000 male.United Nations Department of Economic and Social Affairs, Population Division (2017). World Population Prospects: The 2017 Revision, custom data acquired via webs ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
West African Monetary Zone
The Economic Community of West African States (ECOWAS; also known as CEDEAO in French and Portuguese) is a regional political and economic union of twelve countries of West Africa. Collectively, the present and former members comprise an area of and have an estimated population of over 424.34 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. Additionally, ECOWAS aims to raise living standards and promote economic development. 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 largest city in Benin. ECOWAS's published principles include equality and int ... [...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, is 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 R109 per month. It reached 100,000 subscribers in February 2024, becoming the largest subscription-led news website in Africa. History News24 was launched in October 1998 as part of Naspers' new internet strategy under the company's new managing di ... [...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 March 21, 2018. The proposal was set to come into force 30 days after ratification by 22 of the signatory states. On April 29, 2019, the Sahrawi 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 July 7, 2019, and officially commenced January 1, 2021. AfCFTA's negotiations and implementation are ... [...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 Southern Africa, southernmost country in Africa. Its Provinces of South Africa, nine provinces are bounded to the south by of co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Afriq
The African Monetary Union (AMU) is the proposed creation of an economic and monetary union for the countries of the African Union, administered by the African Central Bank. Such a union would call for the creation of a new unified currency, similar to the euro; the hypothetical currency is sometimes referred to as the afro or afriq. The single African currency is to be composed of currency units made up of regional union reserve bank currency units of which are made up country specific currencies ( The Arab Maghreb Union (AMU) - Northern Afriq, Southern African Development Community (SADC) - Southern Afriq, Economic Community of West African States (ECOWAS) - Western Afriq or ECO, East African Community (EAC) - Eastern Afriq, Common Market for Eastern and Southern Africa (COMESA) - Central Afriq etc.). The Abuja Treaty, an international agreement signed on June 3, 1991, in Abuja, Nigeria, created the African Economic Community, and called for an African Central Bank to follo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Afro
''The'' is a grammatical article in English, denoting nouns that are already or about to be mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with nouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant sound, and as (homophone of the archaic pronoun ''thee'' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euro
The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the euro area or, more commonly, the eurozone. The euro is divided into 100 1 euro cent coin, euro cents. The currency is also used officially by the institutions of the European Union, by International status and usage of the euro, 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. The euro is used by 350 million people in Europe and additionally, over 200 million people worldwide use currencies pegged to the euro. It is the second-largest reserve currency as well as the second-most traded currency in the world after the United Sta ... [...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 *** List of 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 ... [...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, roughly two weeks 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
