Trade Policy
US Tariff Risks Spur African Shift From Dollar, Ecobank Says
Volatile US tariff policy is accelerating efforts in Africa to reduce reliance on the dollar in trade settlements, with companies exploring greater use of China’s renminbi and local currencies, the head of pan-African lender Ecobank Transnational Inc. said.
Volatile US tariff policy is accelerating efforts in Africa to reduce reliance on the dollar in trade settlements, with companies exploring greater use of China’s renminbi and local currencies, the head of pan-African lender Ecobank Transnational Inc. said.
Topics: US dollartrade settlementsAfricarenminbilocal currencies