In Kenya, President William Ruto recently made a brave and incredible statement. In this famous speech, he alluded to the transactions that take place between countries. For example, Kenya wishing to carry out commercial transactions or exchange services with Djibouti is obliged to do so using the US dollar. In other words, Kenya must first convert its currency into dollars before it can buy goods or services from Djibouti, Uganda or other South African countries.<\/p>\n
This raises a number of questions. Why do the United States or the dollar have anything to do with transactions in Africa? It makes no sense. The main reason the U.S. has always been strong in monetary terms is that, after World War II, the U.S. dollar became the world’s currency. It has become a form of imperialism in which many African countries and the rest of the world are forced to use the dollar for their transactions.<\/p>\n