Africa Loses $5 Billion Annually Due to Foreign Currency Trade

Africa Loses $5 Billion Annually Due to Foreign Currency Trade

Experts say eliminating reliance on non-African currencies and the need for foreign currency trade could make intra-African trade cheaper, faster, and more competitive. The Cost of Foreign Currency Dependence in Africa Africa loses an estimated $5 billion annually due to its reliance on foreign currencies for trade between its own countries. This staggering figure highlights a major financial drain that weakens intra-African trade, making transa…