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Africa is moving towards reducing its dependence on the dollar in financial and commercial transactions through efforts such as converting debts from dollars to the yuan, using the yuan alongside local currencies and the dollar, and developing the African Payment and Settlement System "PAPS," which enables transactions to be settled in local currencies. Although the use of the yuan is increasing in line with growing trade with China, reliance on the dollar has not fully diminished, as it still dominates pricing of goods, debts, and international reserves. It is likely that the African system will move towards multiple currencies, with the dollar remaining the primary one, while expanding the use of the yuan and local currencies. These economic measures aim to diversify sources, reduce costs and risks, while allowing the continent to maintain monetary flexibility and gradually achieve greater independence.
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