AFRICA INC. – Rising economies, start-ups, and Black wealth, etc. The high cost of making cross border payments on the African continent has driven governments on the continent to seek options of settling trade and other transactions in local currencies. This has given birth to the Pan-African Payment and Settlement System which is scheduled to go live in 2024 under Kenya’s leadership. Development economist Christopher Adam, who has studied the exchange rate policies of African countries, answers some key questions. Why are African countries exposed in the international currency market? Three main reasons. First, African economies are small and as such are highly dependent on trade with the rest of the world. Their exports are dominated by primary commodities including oil and gas, minerals and cash crop agriculture.

AFRICA INC. – Rising economies, start-ups, and Black wealth, etc. As the sun rises on a new year, Africa’s economic landscape gleams with promise. Gone are the days of being overlooked; the continent is now a vibrant tapestry of opportunity, pulsating with resilient young populations, resource-rich lands, and burgeoning innovation. For discerning investors, this translates to a treasure trove of potential – but navigating the diverse terrain requires a discerning eye. So, where should you set your sights in 2024? Let’s delve into the top 10 African countries poised to ignite your investment spark: 1. Rwanda:  This tiny nation punches above its weight, consistently praised for its transparent governance, efficient business climate, and unwavering commitment to digital transformation. Kigali, the “Singapore of Africa,” is a tech hub buzzing with fintech startups and attracting global giants