LIST OF THE FEW AFRICAN COUNTRIES THAT PRINT THEIR CURRENCY.

LIST OF THE FEW AFRICAN COUNTRIES THAT PRINT THEIR CURRENCY.



2 years ago

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The African continent is made of 54 countries and only 9(nine) countries can make their currencies and mint their coins. Nigeria, Morocco, Egypt, Algeria, South Africa, Zimbabwe, Kenya, Sudan, and The Democratic Republic of Congo are the only countries that have the resources to print their banknotes.

About 40 countries in the continent print their money in the United Kingdom, France, and Germany. African countries like Ethiopia, Libya, Ghana, and Angola along with 13 other countries place orders from British banknote printing giant De La Rue. About 7 other countries like Tanzania, and South Sudan, print theirs in Germany's Giesecke+Devrient, and most French-speaking African countries make their banknotes from the France's central bank.

The Nigerian banknote printed in the Central Bank of Nigeria is called Nigerian Naira.

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In Kenya, it's called Kenyan Shillings printed in the Central Bank of Kenya. Morocco has Moroccan Dirhams. Egypt's currency is the Egyptian Pound.

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Sudan has the Sudanese Pound. Algeria has the Algerian Dinar. The Democratic Republic of Congo has the Congolese Franc. South Africa uses the South African rand as their currency. Zimbabwe has the Real Time Gross Settlement (RTGS) dollar or RTG (which is also known as Zimdollar or Zollar.

The major reason why most African countries can not print their currencies is the expensive nature of the process of making money. Meanwhile, the 9 African countries have enough resources and capacity through well-built structures/agencies to carry out the process of money-making or printing in their territories.


Photo credit: Facebook
Sources:
1.https://www.pulselive.co.ke/business/9-african-countries-print-their-own-currency-among-them-kenya-nigeria-south-africa/qkecx79
2.https://en.m.wikipedia.org/wiki/List_of_currencies_in_Africa





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