how is U.S dollars part of the trade between Djibouti and Kenya why
welcome to the African Leadership Series where we bring you great inspirational
speeches of African leaders the global system is rigged against African progress
it is our role members honorable members it is our role to persistently bring to
the attention of the world the importance of abandoning a fundamentally and just Global
Financial system and the prejudicial biases and attitudes that underpin
it not solely for Africa's sake but to avert the collective Peril of humanity
as African leaders we have to converse this agenda at every available opportunity in every forum
African integration will require Freer movement of people and goods which in turn call for better
infrastructure and better connectivity yet the soul of free trade is the medium of Exchange
the barriers to easy payments and settlements across borders within
our continent are simply unsustainable let me give you an example Traders from Djibouti
selling to Kenya or Traders from Kenya selling to Djibouti have to look for U.S dollars
how is U.S dollars part of the trade between Djibouti and Kenya why
and we are saying that today our free exim Bank have given
us a mechanism where traders in our continent can trade in their goods
and services and the Africa exim bank will settle payments in local currency
that is why Kenya Champions the pan-african payment and settlement system that is done by
our own institution the Africa zimbank why members why is it necessary for
us to buy things from Djibouti and paying dollars why there's no reason
and we are not against the U.S dollar we just want to trade much more freely let us pay in U.S
dollars what we are buying from the U.S but what we applying from Djibouti let's use local currency
ladies and gentlemen it's not just a visit
it is an opportunity to consolidate the friendship between our two people
I have agreed
we did agree that we are going to work on the visa requirements for our diplomatic and
services sectors and the processes between the two countries have been concluded
I have today informed my brother president Goulet that we will not only make it possible for people
holding diplomatic passports and services passports to come to Kenya without the need
for a Visa but I have also extended it to all the people of Djibouti even those holding ordinary
from today it is now possible for you to travel to Nairobi and Kenya without the requirement
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has been me mikeymushi from 2naceki and that has been your candid Africa truthful and Unapologetic