Africa: Her Money Does Not Move Within Her Only Out Of Her

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south_africa_money_ssk_ioMoney Does Not Move Within Africa

I remember going to Ghana and thinking that because there was a GT Bank like mine in Nigeria that I could walk in and withdraw … wrong!

Years later I tried to set up a business account in Kenya with GT Bank because well I wanted to do business in Kenya, so I thought since I already have a GTB account it would be easier … wrong again!

But its not only GTB. Its almost every other bank you come across, they have branches in other African countries but they don’t talk to each other, they have zero communication with each other. Its like they are only connected by name.

In fact it is easier for a Nigerian bank to do business with an American bank than it is for them to do business with a Ghanaian bank that is right next door and bears the same exact name!

And my question is why?

Why have African leaders in major economies not figured out a way to communicate financially. We are so obssesed with the dollar and euro. Can you imagine what would happen if we obsessed over our neighbours currencies? If we could do business with each other? How much money we would make?

But instead of making our money move within Africa we make it move out …

twitterWritten by Okechukwu Ofili of ofilispeaks.com
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Ofili

Author: Ofili

Words by Okechukwu Ofili of ofilispeaks.com
Follow him on Twitter
Stalk him on Instagram
Read his crazy titled books on konga or okadabooks
Feed his children at…no wait he has no kids…. 

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One comment on “Africa: Her Money Does Not Move Within Her Only Out Of Her

  1. Olaitan on said:

    This is the same thing i have been saying. Why are we obsessed over the dollar? In fact, I am very happy that the naira is devaluing against the dollar. Perhaps we need to encourage in house productions.
    I don’t see the average American worried about the price of pounds. Why are we so obsessed with other currencies? Rather, we must work on our own Naira.

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