The US dollar has been on everybody’s lips in various trade forums in Africa. Kenyan President William Ruto has recently questioned the use of the dollar in settling Africa’s intra-trade, and rightfully so.
Nearly all of intra-Africa’s trade is settled using the dollar. This has always meant that settlement of transactions happens in New York, which gives the US the ability to weaponise the dollar against perceived or real enemies, including the execution of economic sanctions against unfriendly nations.
