West African Trade and Currency Challenges

The video discusses the progress and challenges of financial integration in West Africa, focusing on the proposed Echo currency. It highlights the growth of trade in the region, driven by key countries like Nigeria and Senegal, and the role of informal trade. The video also addresses the challenges of implementing a single currency, such as language barriers and sovereignty concerns. Development finance institutions and technology are identified as key enablers of trade facilitation and integration.

What is the proposed single currency for West Africa called?

• Franc

• Dollar

• Eco

• Euro

Which countries dominate trade in West Africa?

• Egypt, Morocco, Algeria, Tunisia

• South Africa, Botswana, Namibia, Zimbabwe

• Kenya, Uganda, Tanzania, Rwanda

• Nigeria, Cote d'Ivoire, Ghana, Senegal

What is the average annual growth rate of trade in West Africa over the last decade?

• 25%

• 10%

• 15%

• 20%

Which sector is crucial for informal trade in West Africa?

• Agriculture

• Manufacturing

• Informal sector

• Tourism

What role do regional banks play in West African trade?

• Imposing trade barriers

• Facilitating trade

• Increasing interest rates

• Reducing currency value

What is a major challenge in implementing a single currency in West Africa?

• Political instability

• High inflation rates

• Language barriers

• Lack of natural resources

What is a significant hurdle for countries in adopting the 'eco' currency?

• Lack of infrastructure

• Reluctance to give up monetary sovereignty

• High unemployment rates

• Political corruption

Which institution is leading the financial integration efforts in Africa?

• European Central Bank

• African Development Bank

• World Bank

• International Monetary Fund

How is technology impacting trade in Africa?

• Increasing tariffs

• Facilitating easier payments

• Reducing internet access

• Increasing currency exchange rates

Which technological advancement is crucial for breaking down trade barriers in Africa?

• FinTech

• Quantum Computing

• Artificial Intelligence

• Blockchain