What if Africa had a single continental currency ?

–1 vote
This question is based on this article from SwaliAfrica's Blog.
The idea of the single currency was initially proposed by the late Libyan leader Muammar Gaddafi, who envisaged a unified Africa with a single currency, single military force and single passport.
Should the African Union pay attention to fundamental problems first ? or this a viable initiative ?

asked in Governance by SwaliAfrica Priest
(210 points)  

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3 Answers

0 votes
Nice write up. Very enlightening .
I think it would be a disaster. The economies, the stability, the morals of countries of African counttries are very different that in no time the equivalent of a Greece of Africa will emerge. Sadly there wont be an African Germany to pull them out.
Everybody will crash. I mean why even start this when many till date still question the sense in the Euro inititive ?
answered by Ameqran
(160 points)  
0 votes
A lot still has to be put in place to enable this come to fruition. But looking at the pros and cons as stated in the article, there are too many loopholes that cant be fixed by the current Africa system that gives any hope that this would work.
answered by Habeeb Kolade
(510 points)  
0 votes
A single currency would mean Africa is finally unified. Despite the challenges, it would really be nice. You can imagine that African can speak with one voice via its currency and this would end up competiting against the dollar, euro and the pounds. We need to work together to move forward in this africa and having a single currency is one of the answers to this. maybe we can then add free movement across all borders.
answered by Silas Maggie