News : Currencies

Nigeria: NIMASA Partners Public Service Reform Bureau On Change Initiatives

[This Day] The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Bashir Jamoh, has emphasised the importance of efficient and effective public service to Nigeria's economic prosperity. (AllAfrica)

Liberia: House of Representatives Re-Summons CBL Over Increase of Mutilated Banknotes

[FrontPageAfrica] Monrovia -- The House of Representatives has reconsidered its decision and summoned top management of the Central Bank of Liberia to appear before its full plenary to address the current flow of mutilated banknotes on the Liberian market despite infusing L$4 billion banknotes of newly printed banknotes. (AllAfrica)

Ethiopia: Economic and Political Implications of the Currency Note Change

[Ethiopian Herald] With a bid to curb and control contraband and corruption and desert support for illegal activities and illicit money trafficking, the government has introduced a new currency note to the economy. The government has unveiled a set of new banknotes as a part of its efforts to curb cash hoarding, illegal trade activities, and illicit financial flows in an already struggling economy. (AllAfrica)

Zimbabwe: Teachers Stick to Guns, Vow Not to Return to Work

[New Zimbabwe] Progressive Teachers Union of Zimbabwe (PTUZ) secretary-general, Raymond Majongwe has accused the government of being scandalous to its response to the plight of teachers. (AllAfrica)

Ethiopia: Agency Working to Tackle Illicit Currency Transfer

[Ethiopian Herald] ADDIS ABABA_ The Ethiopian Diaspora Agency said it is working to tackle illicit currency transfer that may arise following the recent change in banknotes. (AllAfrica)

Zimbabwe: Forex Auction Allotments Top U.S.$30 Million

[The Herald] Foreign currency allotments leapt almost 50 percent in yesterday's auction to more than US$31,6 million, smashing spectacularly a record set just a week ago, and with around two thirds of those allotments going on raw materials, machinery and equipment. (AllAfrica)

Ethiopia: Ethiopia's Demonetization - Possible Causes and Effects

[Ethiopian Herald] Governments, particularly in the least developing countries, take a step and demonetize their currencies for several economic and political reasons. Demonetization is an act of denying old banknotes of their legal tender status. Demonetizing process is then followed by introducing new banknotes as a replacement for the old ones. In short, demonetization is a process of wiping out old currency by introducing a new one. (AllAfrica)

Zimbabwe: Torn U.S.$ Notes Valid - U.S. Embassy

[New Zimbabwe] Torn, dirty or damaged United States dollar notes remain valid for all transactions and can be exchanged as legal tender, the US embassy has said. (AllAfrica)

Zimbabwe: Minister Speaks On Forex

[The Herald] Conrad MupSesa Mashonaland West Bureau (AllAfrica)

Zimbabwe: Worn Out Notes Acceptable - U.S. Embassy

[The Herald] BADLY damaged, dirty or even torn United States dollar notes remain valid for all transactions and can be exchanged as legal tender. (AllAfrica)

Zimbabwe: Bat Suffers $116.4m Foreign Exchange Loss

[New Zimbabwe] BAT Zimbabwe recorded a loss amounting to $116.4 million prompted by the devaluation of the local currency against the US dollar amid a sales volume decline attributed to lack of disposable incomes and the Covid-19 lockdown impact. (AllAfrica)

Zimbabwe: Schools Re-Opening in Disarray As Teachers Declare Incapacitation

[263Chat] The re-opening of schools has been thrown into disarray after the Zimbabwe Teachers Association (ZIMTA) declared its members incapacitated to report for duty. (AllAfrica)

Nigeria: Central Bank Investigates 55 Companies Over Forex Infractions

[Vanguard] Amidst sustained pressures on Nigeria's official foreign exchange (forex) resources, the Central Bank of Nigeria, CBN, has opened investigations into foreign exchange transactions of 55 companies and individuals. (AllAfrica)

Sudan: Warraq - Changing the Currency Is Technical Issue

[SNA] Khartoum -- The Press Secretary of the Prime Minister, Al-Barraq Al-Nazer Al-Warraq has underlined that some dailies, websites and media carried out news reports that he Prime Minister agreed on changing the currency, dscribing the decision as pure technical issue. (AllAfrica)

Nigeria: Inflation, Forex Scarcity Worsens Woes in Manufacturing Sector

[Vanguard] Growth rate in the manufacturing sector is projected to suffer further decline in September and third quarter of 2020 as operators come under a renewed wave of inflation and foreign exchange scarcity. (AllAfrica)

Ethiopia: Ethiopia Introduces New Bank Notes in Fight Against Corruption

[Nation] Addis Ababa -- As Ethiopians welcome a new year, Prime Minister Abiy Ahmed has announced the release of new birr notes in efforts to fight financial crimes. (AllAfrica)

Nigeria: 'Naira Crashes 108% Against CFA? No, It's Not So

[This Day] The Guardian newspaper of August 24, 2020 had the front page headline titled "Naira Crashes 108 per cent against CFA," by Geoff Iyatse. In a similar vein, one has read, or heard of other pronouncements, in the past that the naira depreciated by hundreds of percentage points. (AllAfrica)

Nigeria: We're Well Equipped to Regulate Crypto Assets, Says SEC

[This Day] The Securities and Exchange Commission (SEC) has said the decision to regulate digital assets is part of determination to protect investors, explaining that it has the capacity to achieve the objective. (AllAfrica)

Ethiopia: Experts Say New Currency Notes Will Help Boost Economy

[Ethiopian Herald] ADDIS ABABA (ENA) - The demonetization of the old Ethiopian Birr notes this week will play a crucial role to boost the economy by stabilizing the macroeconomy and controlling illegal money transactions, experts said. (AllAfrica)

Ethiopia: The Coming of Birr As Ethiopia's Currency Note

[Ethiopian Herald] Prior to the introduction of paper money here are some evidences that gold and silver coins were used by ancient Ethiopian kingdoms like Axum. But for the most part of its history Ethiopia used salt blocks known as Amole Tchew as currency, according to continental (AllAfrica)

Ethiopia: Inspirations From New Currency Notes

[Ethiopian Herald] On the morrow of a new year the new Ethiopian 200 Birr note displays a picture of white bird carrying olive branch, which is a sign of peace. Indeed, the new note has carried a special and timely message that is meaningful not only at this moment but also that can pass to the coming generation and to the other world. (AllAfrica)

Ethiopia: Chamber of Commerce Says New Currency Notes Would Strengthen Business

[ENA] Addis Ababa