african currency devaluation
DESCRIPTION
Many African countries are passing through some major currency upheavals. For example, Zimbabwe accepts nine foreign currencies while the Zimbabwe dollar was abandoned due to hyper inflation.TRANSCRIPT
African Currency Devaluation
Many African countries are passing through some major currency upheavals. For example, Zimbabwe accepts nine foreign currencies while the Zimbabwe dollar was abandoned due to hyper inflation. Zambia withdrew its restrictive law designed to protect kwacha.
African currencies are facing the downturn in sentiment towards it by other nations. Many factors like interest rates and government finances are adding to it. China and other nation dependent economies are facing also facing the heat. Africa’s debt and government deficits are hindering investors from investing.
As many African nations
are landlocked and do not
have port facilities, import-
export facilities go at a
snail pace compared to
coastal area. Local
production with assistance
from overseas companies
that provide guidance,
equipments, know-how,
engineer service, supports
and partnership hold the
key to its revival.
We have the required expertise
to produce modular concrete
components in the country. A
joint venture between us and a
local company to produce
concrete modular components
with available material can
reduce the time to build a
house. It takes over a year to
build a home in Africa, with
modular the job can be done in
few weeks. This will save on
the loan borrowed by the home
owners from banks whose
interests are higher than those
in western countries.
We have the required management, engineering skills and provide full support, plus we do provide half the investment in the long run. We will also remove ocean freight, import duty, taxes and local charges from the expense column thereby increasing savings.