Africa says bye to the US dollar. The President of Kenya, urges African nations to dump USD under tumultuous applause. With every nation that rejects USD as reserve currency the US Govt will pay a higher price for printing money (inflation).
This is the real reason why Gaddafi was murdered. He wanted to dump the dollar and unite all of Africa under a single currency (dinar). Welcome to the multipolar world…
Just In: President of Kenya, Williams Ruto, Urges African Nations to Dump the US Dollar for Intracontinental Trade.
Just In: President of Kenya, @WilliamsRuto, Urges African Nations to Dump the US Dollar for Intracontinental Trade. WATCH pic.twitter.com/mHE8Bshquv
— Simon Ateba (@simonateba) June 13, 2023
William Ruto has repeated his call to create a single currency for Africa and ditch the US dollar for intercontinental trade. William Ruto has been urging the nations of the continent to shift away from the US dollar
Kenyan President William Ruto has repeated his call for African countries to stop relying on the US dollar for intercontinental trade, saying it is something the continent needs to “urgently address.”
In a speech to the Djibouti parliament, Ruto said “our people cannot trade without worrying about which currency to use,” emphasizing the need to stop relying on US dollars for trade transactions between Djibouti and Kenya.
Calls for a single African currency have been growing, with East African Community (EAC) Secretary General Peter Mathuki predicting in January that the seven partner states of the group will be trading in a single currency by 2027.
Speaking to RT on Friday, Kenyan business manager and entrepreneur Alice Oludhe said a single African currency was an “ambitious” goal which would require “careful consideration” of economic, political and institutional factors.
De-dollarization could also weaken the West’s global position in international trade, she added.
“When Africa starts to use their own currency, there will be more demand for the African currency, more than the dollar,” she said.
In the meantime, it’s important to “assess the readiness of the participating countries, promote economic convergence, strengthen institutions and foster regional cooperation to mitigate potential challenges,” she said.
Africa won’t allow West to exploit it – Zambian politician to RT
African nations want to be treated as equals, the chairwoman of the Zambian Socialist party said. Zambian Socialist party chairwoman Akende M’membe Chundama told RT that Russia and China offer equality to Africa
Africa doesn’t need to succumb to the “bad deals” offered it by Western nations, because it now has more choice geopolitically and wants to be treated with equal respect, Zambian Socialist party chairwoman Akende M’membe Chundama has said.
Speaking to RT on Monday, Chundama claimed the West “does not want a united Africa.”
The US “wants to dictate to us [Africans] who our friends should be, who Africa should cooperate with,” she explained, adding that Washington is “willing to topple governments, to assassinate our leaders for this.”
Africa now wants to be treated as equals at the table, and Russia and China offer that to Africa.
Chundama noted that Russia had come to help Zambia fight for its independence at a time when Zambia had “nothing” to offer Moscow.
Asked about the Western narrative of an African “debt-trap” with China, Chundama said the notion is “laughable,” dismissing it as “Western propaganda.” She pointed to the fact that 70% of Zambia’s foreign debt, for instance, is to the West, not China, and argued that the terms of investment African nations receive from China are “much more favorable” and result in more tangible results on the continent.
Africa can see where the debt is going, she said. “It’s for infrastructure development, we can see hydropower stations being built, we’ve got roads, schools and hospitals being built.”
Meanwhile, Czech Foreign Minister Jan Lipavsky is on a five-day visit to Angola and Zambia. This trip is aimed at reducing cooperation between African countries and both Russia and China and restoring European influence. Lipavsky admitted on the trip that Europe needed to be more “present” in Africa and to “pay more attention” to the continent.