Take one of each African currency. Put them in a basket. How much are they worth compared to the dollar?
This post demonstrates how to reboot the global economy to an equilibrium based on supply and demand.
The answer to the question above is simple and something I’ve known since 1997. During a Saturday course at Prince George’s Community College on trade and development in Africa I realized how to determine the value of the Afric, official currency of the United States of Africa or the African Union, compared to the U.S. dollar. As shown in the table at the end of this post, the Afric is worth $2.22 based on current exchange rates. The method for determining the value of one Afric came while reading Michael Sudarkasa’s “The African Business Handbook.”
We’re aware of an issue causing inaccurate conversions for Nigerian Naira currency, so we will remove the conversion onebox from appearing in search results until we are able to diagnose the issue.
— Google in Africa (@googleafrica) February 22, 2019
The Nigerian Naira had an episode on February 22, 2019. A supposed “glitch” caused Google to understate the conversion to U.S. dollars from Naira. That made it seem the value of the Naira had almost doubled.
Amazing how the above glitch happened after I had been working on the figures to support the answer to this thought experiment. There are glitches and then there are “Spirits.”
WHAT WOULD THE VALUE OF ONE AFRIC BE ON THE WORLD MARKET?
We live in a world where melanin, the chemical that makes Black people black, has been observed to be worth over $380 a gram more than gold. The Afric as we have made clear is worth $2.22. Red, Black and Green has been the flag of Africans, at home and abroad, since August 13, 1920 and is rapidly approaching its 100th anniversary on August 13, 2020. All of which provides evidence we are living in the era when all the generations of humanity are called blessed as the preamble to the UNIA Constitution States. Since all the above is possible, is it possible we can use our knowledge, skills and abilities to make this a planet that works for everyone?
It is possible to make this planet work for everyone. This once was a planet that worked for everyone. Humans spread out all over this planet only because they were successful in Africa for hundreds of thousands of years before anyone left the African continent. Along the way every challenge was resolved making it possible for our species to survive to this moment.
Yet, poverty persists. How can we solve the issue of poverty for all time? Remember, we live on a planet where some members of the human population have traveled to and walked on the moon. Robots have gone to Mars. It would seem resolving poverty as we know it would be the proverbial “drop in the bucket.” Apparently, the people who would benefit most from resolving poverty seem the least interested in the solution. Those who would benefit the least apparently could care less.
Would a single African currency end poverty as we know it? Europeans convened the Berlin Conference in 1884-1885 to divide and misrule Africa. The Berlin Conference barriers, or borders between African countries, have impeded growth and trade within Africa ever since. Those synthetic barriers have also led to exponential economic growth among the Berlin Conference countries. There is no natural reason or purpose for such boundaries. The time has come to melt down the Berlin Conference barriers with love and embrace the Afric as a single African currency. With those two changes we can envision a united and thriving Africa.
How is that possible? It’s simple. First we must consider it possible. Then visualize it taking place. At that point we will means to make it possible will become apparent.
The table below shows the effect of combining Africa’s currencies as if the Berlin Conference barriers never existed. The end result is the one of the world’s strongest, most valuable currencies. The exchange rates for a dollar gives a total value of $2.22 per Afric. That is more than two times the U.S. dollar. (Note: Were we to treat the CFA as several different currencies instead of a single currency for each country where it is used, the difference would only be 2 cents.)
By taking each African currency then assigning a percentage weight based on the size (GDP or PPP ) of each economy, we arrive at an approximate value of exchange for each African currency to Africs. In essence a person with say, 20,000 Naira in their bank account would exchange that 20,000 at a different rate of exchange for Africs than someone in South Africa who has Rand in their bank account.
Afric exchange rates calculated in euro and other highly traded currencies give us a relative value to each.
With a strong Afric, Africans at home and abroad have audacious purchasing power, also known as PPP. With such a tool at hand we can embark upon solving some of the world’s most pressing issues.
Notable among which is poverty. Guaranteed annual income for Africans at home and abroad is one means to address the wealth disparity affecting too many people. In order to participate, diaspora Africans must take a DNA test from African Ancestry. The percentage of African Ancestry determines how much of the guaranteed annual income will be received. Indigenes receive 100 percent. (note: How do we account for settlers?)
Deposited into an account in the Bank for Africa aka Melanin Bank. Withdrawals are made through check or The Melanin card.
Annual trip to Africa required to keep account active for diaspora members of the United States of Africa.
More ideas: Every human being has a right to a home. This would be required to receive GAI. No one without a verifiable home address would receive GAI until such has been obtained.
(note: Review South African Constitution for more info)
Add Caribbean countries like Haiti to the Afric. Such countries where forced migrants landed added to the value of the Afric change the dynamic of migration to Europe. Those opposed to Africans migrating to Europe would see the opposite effect when the Afric is implemented.
|Algeria||Algerian dinars (DZD)||118.58||0.00084|
|Benin||Communaute Financiere Africaine francs (XOF)||578.37||0.0017|
|Burkina Faso||Communaute Financiere Africaine francs (XOF)||578.37||0.0017|
|Burundi||Burundi francs (BIF)||1802.3||0.00055|
|Cabo Verde||Cabo Verdean escudos (CVE)||97.23||0.01|
|Cameroon||Cooperation Financiere en Afrique Centrale francs (XAF)||578.37||0.0017|
|Central African Republic||Cooperation Financiere en Afrique Centrale francs (XAF)||578.37||0.0017|
|Chad||Cooperation Financiere en Afrique Centrale francs (XAF)||578.37||0.0017|
|Comoros||Comoran francs (KMF)||434.3||0.0023|
|Cote d’Ivoire||Communaute Financiere Africaine francs (XOF)||578.37||0.0017|
|Democratic Republic of the Congo||Congolese francs (CDF)||1630||0.00061|
|Djibouti||Djiboutian francs (DJF)||177.72||0.0056|
|Egypt||Egyptian pounds (EGP)||17.54||0.057|
|Equatorial Guinea||Cooperation Financiere en Afrique Centrale francs (XAF)||578.37||0.0017|
|Gabon||Cooperation Financiere en Afrique Centrale francs (XAF)||578.37||0.0017|
|Guinea||Guinean francs (GNF)||9119.35||0.00011|
|Guinea-Bissau||Communaute Financiere Africaine francs (XOF)||578.37||0.0017|
|Kenya||Kenyan shillings (KES)||100.03||0.01|
|Liberia||Liberian dollars (LRD)||161.25||0.0062|
|Libya||Libyan dinars (LYD)||1.39||0.72|
|Madagascar||Malagasy ariary (MGA)||3519.1||0.00028|
|Malawi||Malawian kwachas (MWK)||729.64||0.0014|
|Mali||Communaute Financiere Africaine francs (XOF)||578.37||0.0017|
|Mauritius||Mauritian rupees (MUR)||34.18||0.029|
|Morocco||Moroccan dirhams (MAD)||9.56||0.1|
|Namibia||Namibian dollars (NAD)||13.97||0.071|
|Niger||Communaute Financiere Africaine francs (XOF)||578.37||0.0017|
|Republic of the Congo||Cooperation Financiere en Afrique Centrale francs (XAF)||578.37||0.0017|
|Rwanda||Rwandan francs (RWF)||899||0.0011|
|Sao Tome and Principe||dobras (STD)||21600.03||0.000046296300|
|Senegal||Communaute Financiere Africaine francs (XOF)||578.37||0.0017|
|Seychelles||Seychelles rupees (SCR)||13.68||0.073|
|Sierra Leone||leones (SLL)||47580||0.000021|
|Somalia||Somali shillings (SOS)||581||0.0017|
|South Africa||rand (ZAR)||14||0.071|
|South Sudan||South Sudanese pounds (SSP)||130.26||0.0077|
|Sudan||Sudanese pounds (SDG)||47.59||0.021|
|Tanzania||tanzanian shillings (TZS)||2339.4||0.00043|
|The Gambia||dalasis (GMD)||49.56||0.02|
|Togo||Communaute Financiere Africaine francs (XOF)||578.37||0.0017|
|Uganda||Uganda shillings (UGX)||3669||0.00027|
|Zimbabwe||Zimbabwean dollars (ZWD)||361.9||0.00276319|