{UAH} CENTRAL BANK CHIEFS PAVE WAY FOR EAST AFRICAN DOLLAR CURRENY:
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1:48 PM |
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Thanks Mr.Brian fro posting such educative ideas.
Below As one of among who have a stake in the region, below is my analysis:
An East African Monetary Union means many advantages, a few are:
1. Concentration of business hubs in a region with over 150 million people who as consumers may buy from the internal EA markets.
2. Linking our currency to the USD means we tap into the rigorous monetary supervision that US has sustained better than say, EC or Russia or China.
3. More countries using the USD, means more stable prices of consumables. Stable prices improves supply and demand. It also opens up more opportunities for more people to do commerce using this single currency.
4. Real time Electronic transfers in EA Will be possible. This will incentivize business and stimulate production as long as one has a phone, good roads and knows what is desired by markets.
The reason why it takes so much money to buy a USD using UGX. is because Uganda does not have more than 10 commodities it sells to USA to get what is known as USD exchange. The USD is also used by countries in form of dollar reserves, besides it being a US currency. Any country that has its dollar reserves holds on it intensely! Uganda pays highly for getting someone to give up their dollars!Unless more commodities to be sold to USA nmarket is increased on, the US Dollar curency will always be higher for its exchange rate.
That is why the African Empowered communities has partnered with various organizations and parastatal bodies based here to network and coordinate on how business entreperenuers and service providers can enhance trade and investment on the continent of Africa.
Humbly,
Dennis L.Nnyondo.
AEC-USA President.
www.africanempoweredcommunities.org
Facebook; African Empowered Communiteis USA/Zimbabwe Chapter,Uganda Chapter, Tanzania Chapter, Kenya Chapter, Rwanda Chapter, Ghana Chapter, Gambia Chapter,South Sudan Chapter etc. Check us in 24 African Countries where we now operate our coordinating Chapters.
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UAH forum is devoted to matters of interest to Ugandans. Individuals are responsible for whatever they post on this forum.To unsubscribe from this group, send email to: ugandans-at-heart+unsubscribe@googlegroups.com or Abbey Semuwemba at: abbeysemuwemba@gmail.com.
Below As one of among who have a stake in the region, below is my analysis:
An East African Monetary Union means many advantages, a few are:
1. Concentration of business hubs in a region with over 150 million people who as consumers may buy from the internal EA markets.
2. Linking our currency to the USD means we tap into the rigorous monetary supervision that US has sustained better than say, EC or Russia or China.
3. More countries using the USD, means more stable prices of consumables. Stable prices improves supply and demand. It also opens up more opportunities for more people to do commerce using this single currency.
4. Real time Electronic transfers in EA Will be possible. This will incentivize business and stimulate production as long as one has a phone, good roads and knows what is desired by markets.
The reason why it takes so much money to buy a USD using UGX. is because Uganda does not have more than 10 commodities it sells to USA to get what is known as USD exchange. The USD is also used by countries in form of dollar reserves, besides it being a US currency. Any country that has its dollar reserves holds on it intensely! Uganda pays highly for getting someone to give up their dollars!Unless more commodities to be sold to USA nmarket is increased on, the US Dollar curency will always be higher for its exchange rate.
That is why the African Empowered communities has partnered with various organizations and parastatal bodies based here to network and coordinate on how business entreperenuers and service providers can enhance trade and investment on the continent of Africa.
Humbly,
Dennis L.Nnyondo.
AEC-USA President.
www.africanempoweredcommunities.org
Facebook; African Empowered Communiteis USA/Zimbabwe Chapter,Uganda Chapter, Tanzania Chapter, Kenya Chapter, Rwanda Chapter, Ghana Chapter, Gambia Chapter,South Sudan Chapter etc. Check us in 24 African Countries where we now operate our coordinating Chapters.
--
UAH forum is devoted to matters of interest to Ugandans. Individuals are responsible for whatever they post on this forum.To unsubscribe from this group, send email to: ugandans-at-heart+unsubscribe@googlegroups.com or Abbey Semuwemba at: abbeysemuwemba@gmail.com.
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