Endogenous development and complementary currencies in Africa
12 December 2013
Can local and complementary currencies offer African economies, which remain largely informal and are poorly served by the credit-currency available from private banks, an alternative path of development? Examples include mutual credit in South Africa, local exchange systems in Kenya, regional currencies in Senegal, and time-currencies in Tunisia. Initial experiments seem rather promising, even if empirical studies that could offer a precise assessment are lacking.