https://en.sputniknews.africa/20261113/unshackling-africas-economy-how-can-local-currencies-challenge-the-dollars-dominance-1090919776.html
Unshackling Africa’s Economy: How Can Local Currencies Challenge the Dollar’s Dominance?
Unshackling Africa’s Economy: How Can Local Currencies Challenge the Dollar’s Dominance?
Sputnik Africa
African trade once flowed through foreign banks and foreign currencies. A quiet revolution is changing that. From PAPSS to the AfCFTA, Africa is building a new... 13.11.2026, Sputnik Africa
2026-11-13T19:23+0100
2026-11-13T19:23+0100
2026-11-13T19:07+0100
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Unshackling Africa’s Economy: How Can Local Currencies Challenge the Dollar’s Dominance?
Sputnik Africa
African trade once flowed through foreign banks and foreign currencies. A quiet revolution is changing that. From PAPSS to the AfCFTA, Africa is building a new financial system—one where Africa trades in its own names, on its own terms.
De-dollarization is often discussed in the language of central banks and monetary policy. But its impact is felt most directly by ordinary citizens—the market trader, the salaried worker, the young entrepreneur. When African currencies are strong and trusted, prices are more stable. When trade is settled in local currencies, businesses save on conversion costs and can pass those savings to consumers. When African economies are less exposed to the whims of Western federal reserves, they are better protected from external shocks—from sudden interest rate hikes to global financial crises.Dr. Marvellous Ngundu, a Senior Research Consultant with the African Futures and Innovation (AFI) programme at the Institute for Security Studies (ISS), joins Pan-African Frequency to discuss what it will take to build a truly independent African monetary and financial structure, in light of the role of the Pan-African Payment and Settlement System (PAPSS), the promise of the African Continental Free Trade Area, and the rise of BRICS-led alternativesTo listen to the whole conversation, tune in to the Pan-African Frequency podcast, brought to you by Sputnik Africa.In addition to the website, you can also catch our episodes on Telegram.► You can also listen to our podcast on Apple Podcasts, Spotify, Deezer, Pocket Casts, Afripods, and Podcast Addict► Check out all the episodes of Pan-African Frequency
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sputnik africa, africa, brics, podcasts, multipolarity, african continental free trade area (afcfta), de-dollarization, industrialization, african union (au), local currency, trade, pan-africanism, economy, sovereignty, development, аудио
sputnik africa, africa, brics, podcasts, multipolarity, african continental free trade area (afcfta), de-dollarization, industrialization, african union (au), local currency, trade, pan-africanism, economy, sovereignty, development, аудио
Unshackling Africa’s Economy: How Can Local Currencies Challenge the Dollar’s Dominance?
African trade once flowed through foreign banks and foreign currencies. A quiet revolution is changing that. From PAPSS to the AfCFTA, Africa is building a new financial system—one where Africa trades in its own names, on its own terms.
De-dollarization is often discussed in the language of central banks and monetary policy. But its impact is felt most directly by ordinary citizens—the market trader, the salaried worker, the young entrepreneur. When African currencies are strong and trusted, prices are more stable. When trade is settled in local currencies, businesses save on conversion costs and can pass those savings to consumers. When African economies are less exposed to the whims of Western federal reserves, they are better protected from external shocks—from sudden interest rate hikes to global financial crises.
Dr. Marvellous Ngundu, a Senior Research Consultant with the African Futures and Innovation (AFI) programme at the Institute for Security Studies (ISS), joins Pan-African Frequency to discuss what it will take to build a truly independent African monetary and financial structure, in light of the role of the Pan-African Payment and Settlement System (PAPSS), the promise of the African Continental Free Trade Area, and the rise of BRICS-led alternatives
“If we look historically, we'll see that many payments between African countries have relied on corresponding banks and international currencies. And this has been done particularly using the US dollar. This exposes intra-Africa trade to foreign exchange shortages, to international bank charges, to external compliance requirements and disruptions in the global financial markets. PAPSS provides an alternative by enabling cross-border payments in African currency through a continental infrastructure. And this matters for three reasons. First, it can reduce the need for businesses to obtain dollars simply to trade with neighboring countries. Then second, it can keep more payment activity within African financial institutions. And third, it supports the Africa Continental Free Trade Area by addressing one of the practical barriers to regional trade,” Dr. Ngundu explained.
To listen to the whole conversation, tune in to the
Pan-African Frequency podcast, brought to you by
Sputnik Africa.In addition to the website, you can also catch our episodes on
Telegram.► Check out all the episodes of Pan-African Frequency 
