currency

Established in 2019, Leatherback embarked on a mission to unify the world’s 180 currencies. Its approach emphasizes customer-centric product offerings, designed to provide users with seamless transaction experiences across multiple currencies and international borders. With the company's continued expansion into new markets and the introduction of innovative features aimed at enhancing user experience, recent leadership appointments reflect an intent to harness the power of expertise, robust networks, and core…

The Journey of Zimbabwe Gold (ZiG): A Hopeful Yet Shaky Future In a recent statement reflecting its ongoing commitment to the nation, the International Monetary Fund (IMF) has expressed a distinct interest in Zimbabwe's new currency, ZiG. The organization has articulated its desire to see this currency evolve into a “fully recognized national currency.” This development is part of broader considerations regarding placing Zimbabwe under a staff-monitored program. But what does this mean for the everyday…

Inflation in Ghana: A Promising Turnaround In a remarkable turn of events, Ghana's inflation rate has dipped to its lowest level in over three years. This shift is largely attributed to a stronger national currency and reduced import costs, signaling a potential recovery for the West African nation. As reported by government statistician Alhassan Iddrisu during a recent news conference, consumer inflation eased to 18.4% year-on-year in May, down from 21.2% the previous month. This decline is a hopeful indicator…

The Economic Impacts of Weak Currencies in Africa A weak currency can be likened to a house of cards—it may appear stable until the slightest disturbance brings it crashing down. For nations, the ramifications stretch beyond fluctuating exchange rates. A weak currency can undermine economic stability, erode investor confidence, and adversely affect the well-being of a nation's citizens. Have you ever wondered how essential currency stability is for a thriving economy? Take Zimbabwe, for instance. In April…

In recent years, African economies have encountered an array of global challenges that can only be described as a perfect storm. The lingering effects of the COVID-19 pandemic still ripple through these nations, leaving them grappling with slowed economic growth, mounting debt, and strained fiscal positions. It's akin to a ship trying to navigate through heavy fog, where visibility is limited, yet the journey must continue. Have we collectively learned enough from this turmoil to chart a safer course? Compounding…

In an unexpected twist of economic decisions, Libya's central bank announced a significant devaluation of their currency on a quiet Sunday. The dinar's value has been adjusted down by 13.3% against the U.S. dollar, pegging the official exchange rate at 5.5677 dinars per dollar. This change, undeniably, is laden with historical echoes and contemporary realities. It’s not just numbers; it’s a story unfolding. It's fascinating when you think about it, this is the first recalibration since 2020,…

In the ever-dynamic world of foreign exchange, where currencies ebb and flow like a tide that shapes economies, the Bank of Ghana brought forth a compelling report. They stated that the Ghanaian Cedi had depreciated by 5.3% against the US dollar in the interbank market over the first quarter of 2025. This insight invites the question: what does this mean for a nation striving for economic prowess? Oddly enough, the Cedi's descent appeared gentler in the retail market, where it fell by a…

Uganda, a nation known for its rich landscapes and vibrant cultures, has recently embarked on a significant economic journey. By cutting electricity prices, Uganda has achieved a remarkable feat, marking its steepest power tariff reduction in the last twenty years. This bold move, in part, is a direct result of a resilience shown by the Ugandan shilling, which, against all odds, has soared and strengthened. As this currency appraisal lowered the costs of key imports such as fuel and power generation components,…

In a year marked by both challenge and resilience, MTN Group has unfolded its financial narrative, revealing a significant 68.9% drop in full-year earnings. If you dig deeper into the details, you'll see that economic turbulence, specifically in the form of currency devaluation and the volatile situation in Sudan, reshaped the company’s landscape. The figures speak volumes, with the South African telecom titan posting a stark loss of 9.59 billion rand, roughly equivalent to a staggering $526 million.…

ECOWAS Currency: Bridging West Africa The idea of a unified West African currency, known as the Eco, is as ambitious as it is inspiring. Imagine a future where crossing borders within West Africa doesn’t involve exchanging currencies—a future where trade and interaction flow seamlessly across countries. This is the vision behind the Eco, a currency anticipated to act as a unified medium of exchange, fostering trade and economic unity across the region. During a meeting held in Abuja—the heart of Nigeria’s administrative…