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Prof. P.L.O. Lumumba has highlighted that around 80% of transactions in Africa are conducted using external currencies like the U.S. dollar and euro. This reliance on foreign currencies for trade and financial transactions underscores the challenges Africa faces in achieving greater economic independence. Efforts like the Pan-African Payment and Settlement System (PAPSS) aim to address this by promoting the use of local currencies in intra-African trade. Such initiatives could help reduce depend
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