Forex – Potential Solution To Financial Instability In Africa

Most African countries struggle with financial instability as well as the strength of their currencies being in a state of unrest, and due to the slow development of Africa as a whole, it then becomes increasingly difficult to maintain and adhere to the standard set by developed countries. The direction is simple, Africa as a whole has to reach a level where 80 percent of the population is financially stable and secure. Many factors contribute to this phenomenon,one being the poverty affecting african countries, this is a clamorous issue that is hindering the vision of a new path for Africa. The effects of poverty dictate that the poor remain poor and the rich grow in wealth and those in the middle never seem to advance, these limitations curb any growth whatsoever and they ensure a stagnant economy and subsequently the country`s financial growth remaining in a state no forward motion.

The Forex market – This is the biggest financial institution in the world, Forex Transactions are worth 5.5 trillion dollars on a daily basis compared to the mere 76 billion dollars of the NYSE.There is no central exchange, this meaning that currencies are traded by a global network of banks, dealers and brokers thus ultimately meaning that Forex can be traded at any time, day or night, Monday to Friday. this is all thanks to the strides made in technology,real-time information and platforms to study markets are readily available for anyone who has a laptop and an internet connection. Most…


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