African Bitcoin Could Become A Thing

South African president Cyril Ramaphosa has announced his support for a single African currency, and has proposed that the new currency be digital.

The comment came during a press conference at the African Union summit in Kigali, where 44 African countries signed a deal formalising the African Continental Free Trade Area. According to Ramaphosa, following this agreement, the next logical step would be to establish a continent-wide currency.

Single African currency makes sense

According to the South African president, ‘Business people said doesn’t this beg for a single currency, and in my book it certainly does… It may take time, it may take years, but it’s interesting that something that we never spoke about in the past, we are now talking about. Because people always had a sense of sovereignty around their own currency, feeling that their currency is about their sovereignty, their nationhood, but people are now thinking beyond the borders of their own nation.’

‘We will begin to interface with the idea and notion of a single currency, possibly even a digital currency, and it’s possible that a digital currency will precede a real single currency because it is easier than having a proper full currency,’ he said.

‘Afro’ been on the cards since 1991

Previously, African leaders have suggested a traditional currency, and the name of the ‘Afro’ has been mooted in previous proposals. The idea dates back as far as 1991, when the Abuja Treaty proposed the establishment of African Economic Community. But this is the first time that a leader has publicly stated that digital might be the best way to go.

According to Business Tech, Bitcoin and other digital currencies have grown in popularity in the African continent in recent years, with some countries like South Africa seeing growth of more than 500%. Moreover, one business school in South Africa made headlines last year as the first business school to accept Bitcoin payments for new admissions.

Though a single African currency still has a long way to go before approval and implementation, as internet penetration continues to improve on the continent, going digital may indeed be a more practical way to implement it across the continent.

Since you are here, we would like to share our vision for the future of travel - and the direction Culture Trip is moving in.

Culture Trip launched in 2011 with a simple yet passionate mission: to inspire people to go beyond their boundaries and experience what makes a place, its people and its culture special and meaningful — and this is still in our DNA today. We are proud that, for more than a decade, millions like you have trusted our award-winning recommendations by people who deeply understand what makes certain places and communities so special.

Increasingly we believe the world needs more meaningful, real-life connections between curious travellers keen to explore the world in a more responsible way. That is why we have intensively curated a collection of premium small-group trips as an invitation to meet and connect with new, like-minded people for once-in-a-lifetime experiences in three categories: Culture Trips, Rail Trips and Private Trips. Our Trips are suitable for both solo travelers, couples and friends who want to explore the world together.

Culture Trips are deeply immersive 5 to 16 days itineraries, that combine authentic local experiences, exciting activities and 4-5* accommodation to look forward to at the end of each day. Our Rail Trips are our most planet-friendly itineraries that invite you to take the scenic route, relax whilst getting under the skin of a destination. Our Private Trips are fully tailored itineraries, curated by our Travel Experts specifically for you, your friends or your family.

We know that many of you worry about the environmental impact of travel and are looking for ways of expanding horizons in ways that do minimal harm - and may even bring benefits. We are committed to go as far as possible in curating our trips with care for the planet. That is why all of our trips are flightless in destination, fully carbon offset - and we have ambitious plans to be net zero in the very near future.