There appears to be a consensus that the world is finally turning its back on the US dollar. There are simmering shifts within the global monetary system. The shift becomes ever more apparent, best described as de-dollarisation.

The world is searching for alternatives to the US dollar, finding them more often. Thus, moving away from the dollar can no longer be stopped. For instance, early this year, Indonesia reiterated it would promote local currency settlement (LCS) in cross-border trade and investment to reduce dependence on the US dollar.

Most African economies have been staring into an economic abyss, besieged by a plethora of…

Africa produces more fertilizer than it consumes yet it imports to meet demand gaps Poor…

The agreement reaffirms the US commitment to elevating a strong private sector voice in AfCFTA…

Until substantial reforms are implemented, and remittance flows channelled towards long-term economic prospects, the diaspora will continue to be a net negative for weak African economies. Africa cannot depend on exporting its brilliant people abroad to bring money home forever. Thus, governments must establish vibrant economies that appreciate the continent’s human capital and enable bright individuals to prosper.

The transformative effects of DeFi on advancing financial inclusion, assisting African trade, and strengthening Africa’s economy match the technology with the global sustainability agenda and the UN Sustainable Development Goals. As a result, the industry is an attractive investment for investors, asset managers, and pension funds seeking to make their portfolios more sustainable while directly addressing social implications.