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. 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. 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.

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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

This is a savings scheme whereby two or more people of common interest contribute an equal sum(as agreed by members) on specified dates for the members to take in turns, the lump sum (gathered from the contribution). A cooperative financial agreement is known for its nature of contributory savings, rotational earnings/withdrawal, and unique rules of engagement.

Members of such associations contribute a fixed sum depending on their budget either on a daily, weekly, or monthly basis and they take turns to collect the entire contribution saved in a common purse on a rotational basis.

Each member can access a larger sum of money (equivalent to the total amount due from the contribution of a fixed agreed amount by all the members within an agreed cycle) during the life of the contribution, and use it for whatever purpose she or he wishes.

An example of cooperative savings is a situation where a group of 10 choose to contribute N15,000 every second Sunday of a new month to collect N150,000 when his/her turn matures.

The contributory savings and rotational earnings are carried out till every member benefits from the pool of funds. When every member has received his/her earnings in due time, the members can either choose to continue the savings scheme or dissolve/discharge each party from operating in the scheme.

The cooperative financial agreement did not start operating in the 21st century. These savings associations/schemes were greatly practiced by market women and men in our traditional societies. In Nigeria, the savings scheme is called by different names and practiced under unique rules of engagement. The whole system was built on trust and regard for the common interest of the members.

In Yoruba, it's called 'Ajo', the Igbos 'Esusu', and in the Northerners and Tiv people called it 'Adashe'. These groups of savings served as a source of borrowing money for emergencies, investing in businesses, meeting personal needs such as tuition fees, wedding preparation, and so on.