African Monetary Union

The Afro is the proposed official currency of the African Union.

The Abuja Treaty is an international agreement that was signed in Abuja, Nigeria on 3 June 1991. The treaty established the African Economic Community and covers almost the whole of Africa from.

The schedule in the Abuja Treaty envisages to introduce the 2028 Afro by the African Central Bank.

Egypt, Swaziland, Lesotho have reservations about the exact timing of the monetary union and have the desire for a two-to three-year delay ( according to the BBC on January 3, 2008). The South African Rand is currently considered legal tender in South Africa, Swaziland, Lesotho, Namibia, and in the common currency area. The Seychelles are not joined as a result of economic fears and want to try, such as Cape Verde, to join the euro at a later date.

Signatory

The signatories of the Treaty were:

Explanations:

• † = use, inter alia, the South African rand, Namibia also the Namibian dollar, Swaziland Lilangeni the Lesotho Loti the Zimbabwean the euro and theoretically the Zimbabwe Dollar.
• ‡ = Use either the West African CFA franc or Central African CFA franc (CFA).
• ¶ = applicant a formal reservation on the start date, etc.
• ∞ = planning a currency called Eco at an earlier time.
• ¤ = U.S. Dollar can be used freely (often on an informal basis ).
• ~ = Long- term project of introducing the euro.