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Ethiopia’s Bold Leap Toward Monetary Sovereignty: A Wake-Up Call for Africa’s Economic Independence

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In a continent where echoes of colonial rule still reverberate through economic structures, Ethiopia’s recent announcement to print its own currency domestically stands as a potent symbol of reclaiming control.

Prime Minister Abiy Ahmed unveiled the plan at the Finance Forward Ethiopia 2026 conference, framing it as a critical step toward economic sovereignty. For decades, Ethiopiaโ€”like the vast majority of African nationsโ€”has outsourced the printing of its birr to foreign firms, often in Europe, incurring millions in costs and exposing itself to logistical vulnerabilities, foreign exchange strains, and security risks. This shift, managed by the state-owned Ethiopian Investment Holdings (EIH), promises not only to stem the outflow of capital but also to foster national pride and self-reliance in a process that has long been dominated by former colonial powers.

Image by Freepik

The backdrop to this decision is stark: Out of Africa’s 54 countries, only a handfulโ€”estimates range from 9 to around 12โ€”currently print their own currencies at home. Nations like Nigeria, South Africa, Egypt, Morocco, Kenya, Algeria, Tunisia, and Libya are among the few that have developed the capacity to do so, often through significant investments in technology and infrastructure. For the rest, including Ghana, the reliance on printers in the UK, France, Germany, and Austria perpetuates a neocolonial dependency. These European firms, such as De La Rue in the UK or Giesecke+Devrient in Germany, handle orders for over 40 African countries, charging hefty fees while controlling timelines and quality. In Ghana’s case, the Bank of Ghana has openly acknowledged that the cedi is printed abroad due to the specialized nature of the process, with only about 20 global printers capable of meeting international standards. This outsourcing drains local economies before the money even circulates, as Ethiopia’s leaders have aptly pointed out.

EIH, established in 2021 to oversee more than 40 state-owned enterprises across energy, telecoms, transport, and manufacturing, is at the helm of this transformation. With assets valued at 8.2 trillion birr (approximately $140 billion) and nearly $49 billion in foreign exchange reserves, EIH is poised to invest in a state-of-the-art mint in Addis Ababa. Prime Minister Abiy has projected that EIH’s contributions could reach 20% of Ethiopia’s GDP by 2030, underscoring the entity’s role in driving profitability, accountability, and strategic capabilities. Beyond currency, EIH is spearheading related initiatives, such as building Ethiopia’s first gold refinery to process raw gold domestically and partnering with crypto-mining firms for long-term revenue streams. These moves align with broader economic reforms aimed at reducing external dependencies and preserving national wealth.

Yet, as with any bold policy, the path is fraught with risks. Printing money is not merely a technical endeavor; it demands political discipline and economic prudence. Overprinting could fuel inflation, erode public trust, and destabilize the birr, especially amid Ethiopia’s ongoing challenges with macroeconomic reforms and external pressures. The process itself requires advanced technology, skilled labor, and rigorous security measuresโ€”elements that have deterred many nations from attempting it. Globally, only about a quarter of countries handle their own printing, highlighting the high barriers to entry. In Ethiopia, economists stress the need for transparent oversight to prevent misuse, particularly in volatile sectors like crypto-mining, where governance lapses could undermine confidence.

This initiative also intersects with Ethiopia’s digital ambitions, though not without hurdles. A separate but related development involves the country’s push for digital tax reforms, including mandatory QR code receipts, which has encountered bureaucratic bottlenecks at printing enterprises like Birhan ena Selam. Delays, power outages, and centralized processes have stranded businesses, eroding trust in these innovations and illustrating the broader challenges of building domestic capacity. If unaddressed, such issues could spill over into the currency printing project, emphasizing the importance of infrastructure resilience.

Looking beyond Ethiopia, this move could catalyze a regional renaissance. With more than 40 African countries still outsourcing, Addis Ababa has the potential to emerge as a hub for East Africa and beyondโ€”exporting printing services, generating revenue, and fostering intra-continental trust. Imagine Ethiopia becoming the “printer of the Horn,” minting currencies for neighbors like Somalia or Eritrea, thereby flipping dependency into opportunity. For Ghana, this serves as a poignant reminder: As a nation that also prints its cedi overseas, Accra could draw inspiration to invest in similar capabilities, perhaps through partnerships under the African Continental Free Trade Area (AfCFTA). Political voices in Ghana, including presidential hopefuls, have already pledged to localize printing, recognizing its role in true economic emancipation.

Ultimately, Ethiopia’s gamble hinges on more than machinesโ€”it’s about safeguarding value through exports, productivity, and fiscal discipline. If successful, it could dismantle lingering colonial legacies, where currencies are born in the metropoles that once ruled the colonies. For a global audience watching Africa’s rise, this is not just about money; it’s about rewriting the narrative of self-determination. As discussions unfold, from Addis to Accra, the real currency at stake is trustโ€”in governments, economies, and the promise of a sovereign future.

For further reading on Ethiopia’s digital reforms and their challenges, see A Digital Fix Becomes a Bureaucratic Trap. Details on the currency shift are available in Ethiopia Moves to Print Its Own Currency.

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Accra, A City Where Vaults Have Balconies

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Accra is building upwards at an extraordinary pace. Sleek apartment towers with ambitious namesโ€”A-Heights, B-Towers, C-Residencesโ€”are sprouting across the capitalโ€™s most affluent neighbourhoods, from Cantonments and Labone to East Legon and Ridge. Many come with gyms, pools, rooftop lounges, and concierge desks. Yet drive past these gleaming structures after sunset, and a strange silence hangs over them. The number of lit windows on most evenings could be counted on one hand.

This paradox, luxury apartments multiplying while remaining largely empty, their prices defying the basic economic logic that excess supply should drive costs down, is at the heart of a provocative social media essay by Kofi Hamilton Amekudzi. In a Facebook post that has generated hundreds of reactions and dozens of detailed comments, Amekudzi asks a question that has quietly troubled many Accra residents: who is buying these homes, and why do so many appear to be used as little more than โ€œvaults with balconiesโ€? Read the full article below.


ACCRA, A CITY WHERE VAULTS HAVE BALCONIES
Drive through Accra these days, and you will see apartments shooting up like missiles. They rise. They glitter. They acquire ambitious names such as A-Heights, B-Towers, C-Residences, D-Pinnacle, E-Apex, F-Summit, etc. It appears the developers are running out of synonyms for the word “high”.

In Cantonments, Labone, Airport Residential. East Legon, Osu, Nyaniba, Ridge, and beyond, familiar bungalows are giving way to vertical structures determined to redefine Accra’s skyline. The developers will tell you that the land on which stood a single bangalow must be maximised.

Most of these apartments include gyms, swimming pools, rooftop lounges, concierge desks, and many other admirable amenities, included to enhance their appeal. I would not be wrong to say the building of apartments has become a competition in Accra. And yet, for all the furious construction, a strange silence hangs over these buildings after sunset. Drive past at 8pm and count the number of lit windows. You will surely not need the fingers on both hands.

Therein lies the puzzle that is not easy to explain. The apartments are everywhere but are largely empty, and yet their prices continue to ascend like a BA jet leaving Accra International Airport. Ask any first year economics student what happens when supply outstrips demand? Clearly, the Accra apartment story defies the principles contained in Economics text books.
So, who is buying an apartment that would most likely be empty for most of the year?
The rumour mill, never shy in Ghana, has produced its answer. Many of the apartments are being used to “wash” money. For the avoidance of doubt, “washing” money does not make dirty money cleaner. Omo and Key soap have no role to play in this kind of “washing.”

It simply means tucking “suspect funds” away from the prying eyes of the formal banking system and converting them into brick and mortar. This, the rumour mill insists, is the reason why the prices do not respond to the gravitational pull to drop. “Suspect money” is increasing and hence the demands are high.

An individual who has invested unspeakable sums into a three – bedroom unit in Cantonments is in no particular hurry to sell. The apartment is not a home. It is a vault. Yes, a vault with a balcony view. There are also Ghanaians in the diaspora (and also in Ghana) who have found the interest rates whispered by the banks to be unattractive. They find the interest on treasury bills and fixed deposits to be inadequate. They are also aware of the historic adventurous relationship between the Cedi and the Dollar. After careful thought, they prefer to keep their hard-earned resources in brick and mortar.

This brings us to a question no one is asking. Does this rush to invest in apartments suggest a falling trust in our banking system? Is it possible that the banks would have been the main beneficiaries of these resources going towards real estate entities if the citizens trusted the banks?

The sad part of this story is that the increase in apartments is not reducing the housing deficit in Ghana primarily because many Ghanaians cannot afford these apartments.
A young teacher in Madina who pays rent cannot afford these apartments. A nurse in Korle – Bu searching for a one-bedroom cannot afford the $120K the developers are asking for a studio apartment. These apartments were never built for such people. The price tags start where their dreams end.

And so Accra’s Towers would continue to multiply. Gleaming, expensive, half-lit, half-occupied, and yet, only half-explained. They will remain monuments of wealth we cannot fully explain, and this whispers to us that “unexplained wealth” is still very prevalent in Accra.

One day, maybe an audit will reveal the names of all the owners of the apartments in Accra. The earth may shake that day. The owners of the dark rooms will be revealed in the light.
Until then, Accra will continue to be Accra. The apartments will continue to rise. The more they rise, the more they will be empty. The more they are empty, the higher their price tag ascends. The more you think about this logic, the more you will struggle to make sense of it.

In a nutshell, Accra reminds us that vaults have balconies, and theories from economics textbooks do not make sense on the streets. Good day.

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No Vaccine, No Drugs: Why the Latest Ebola Emergency Is Different

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Unlike previous major Ebola outbreaks, this rare strain has no approved therapeutics or vaccines.

Health authorities have confirmed that the current Ebola outbreak in the Democratic Republic of the Congo and Uganda is caused by the Bundibugyo virus disease (BVD) , a rare type of Ebola disease that has no approved therapeutics or vaccines.

Here is what makes this outbreak different, based solely on information from the World Health Organization and the Africa Centers for Disease Control and Prevention.

1. A Rare Strain

Although more than 20 Ebola outbreaks have taken place in the DRC and Uganda, this is only the third time BVD has been reported. The rarity of this strain means that the medical countermeasures developed for more common Ebola strains, such as vaccines and antiviral treatments, do not exist for BVD.

2. No Approved Medical Countermeasures

According to the WHO, BVD has no approved therapeutics or vaccines. This stands in contrast to other Ebola outbreaks in recent years, where ring vaccination and experimental treatments were deployed. Without these tools, health authorities must rely entirely on non-medical interventions.

3. Reliance on Basic Outbreak Control

The Africa Centres for Disease Control and Prevention has stated that the virus spreads through direct contact with the bodily fluids of infected people, contaminated materials, or those who have died from the disease. In the absence of vaccines and drugs, the WHO has advised:

  • Immediate isolation of confirmed cases
  • Restricted national travel for those exposed
  • No international travel until 21 days after exposure
  • Cross-border screening and screening at main internal roads

4. Risk of a Larger Outbreak

The WHO has said the outbreak could be much larger than currently reported, citing the high positivity rate of the initial samples and the increasing number of suspected cases being reported. As of Saturday, the Africa CDC reported 336 suspected cases and 87 deaths. The DRC accounts for all except two of those cases, both reported in neighboring Uganda.

5. What Countries Should Not Do

The WHO explicitly urged countries not to close their borders or restrict travel and trade. It warned that border closures could lead to people and goods making unmonitored border crossings, which would make the outbreak harder to track and contain.

Bottom line: The Bundibugyo virus disease outbreak is different because it involves a rare Ebola strain for which no vaccines or therapeutics exist. The response depends entirely on isolation, contact tracing, travel restrictions, and screening โ€” without the medical tools that helped stop previous Ebola epidemics.

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“I Became Scared of Marriage”: Divorce Lawyer Reveals How Handling Breakups Gave Her Commitment Issues

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A prominent Nigerian lawyer and social media influencer known as Celebrity_Lawyer (De_Monarch1) has opened up about an unexpected occupational hazard: years of handling customary divorces left her with a deep-seated fear of commitment, a condition she identifies as gammophobia.

In a candid video shared with her thousands of followers, the lawyer recounted a pivotal moment at a customary court years ago. A chairman, observing the young lawyer at work, issued a warning:

“I should learn to separate my personal life from my professional life. That somehow, if I mix my emotions with my professional life, it’s going to affect my love life.”

At the time, the lawyer admitted she did not understand the warning. But over the years, the daily immersion in marital breakdowns, the disputes, the betrayals, the legal dissolutions, took a psychological toll.

“Over the years, I realized that I had commitment issues,” she said. “I became scared of marriage, commitment.” She described her automatic response to romantic interest as a defensive shutdown: “If you come and tell me, ‘Oh, I like you, let’s see how it goes’โ€ฆ I’m like, this marriage thing, what is the problem? I beg, I beg, I beg, carry your problem and be going.”

Comfort in Singlehood, Until a Wake-Up Call

For a long time, the lawyer found comfort in her single status, describing it as a modern blessing.

“Being single is a blessing. You get to do anything you want to do. You don’t have to consider anybody. You’re considering yourself,” she explained.

However, a recent tragedy forced a profound shift in perspective. A neighbor battling cancer passed away, and the lawyer observed who remained by her side until the end.

“The only people beside that woman was her husband and her children, not her employers, not her colleagues, not even her sisters,” she recalled. “Her husband and her children.”

That image became the catalyst for questioning her long-held fears. She concluded that avoiding marriage simply because of the failed marriages visible around her was a form of deception.

“That’s the devil trying to cheat you,” she stated. “Devil is trying to cheat you without you knowing.”

Now, by consciously opening her mind to healthy marriages she had previously overlooked, the lawyer says she has experienced a revival of hope:

“I might get married one day. Yeah, I will get married one day. And I feel like marriage is a very beautiful thing when done right.”

She offered a balanced final message, quoting scripture:

“Even the Bible said one shall chase 1,000, two will chase 10,000. So if it’s a healthy marriage, you’re going to achieve more than if you are single. But if it’s a bad marriage, it’s better that you are single than be in a bad marriage.”

The lawyerโ€™s confession has since sparked widespread conversation online about the unseen mental health impacts of legal professions, the fear of commitment in modern dating culture, and the changing perceptions of marriage among young African professionals.

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