Afreximbank says Africa benefits from use of local currency for continental trade

NAIROBI, Aug. 30 (Xinhua) -- The African Export-Import Bank (Afreximbank) said on Wednesday that the continent is benefitting from the use of local currencies when engaging in intra-African trade.

Denys Denya, Afreximbank's executive vice president for finance, administration and banking services, said at a roadshow in the Kenyan capital of Nairobi that foreign currencies, such as the U.S. dollar which is traditionally used for cross-border trade, are currently in short supply in the continent.