Afro (currency)

Afro ( English Afro ) - by analogy with the euro and the Amero, the planned currency of the African Union . The decision to introduce an “afro” was made in Abuja, the capital of Nigeria, at the time of signing the agreement on a single economic space in Africa. At present, the introduction of an “afro” is planned for 2025, but the prospects for this plan are rather vague, as many countries plan to join other monetary unions, for example, Cape Verde plans to enter the eurozone .

Currently, there are several currency unions in Africa - the West African Economic and Monetary Union and the Central African Monetary and Economic Community use the CFA franc , the Economic Community of West African countries planned to introduce a common currency in 2009, the East African community plans to introduce East African shilling by 2015. In southern Africa, a monetary union based on the South African rand is also possible.