Africa’s Best Currencies For 2024

  1. Zambian Kwacha (ZMW) – Leading the list, Zambia’s currency has gained significantly due to successful economic reforms and growth in the mining sector
  2. Seychellois Rupee (SCR) – The Seychelles’ strong performance is supported by a thriving tourism industry and sound financial management
  3. Botswana Pula (BWP) – Known for its economic stability, particularly in mining, Botswana’s Pula remains strong in regional trade
  4. Eritrean Nakfa (ERN) – Despite political challenges, the Nakfa remains resilient, buoyed by remittances and limited inflation
  5. Mauritian Rupee (MUR) – Mauritius maintains a stable currency due to its diversified economy, including tourism and financial services
  6. South African Rand (ZAR) – As a dominant currency in Southern Africa, the Rand is influenced by both domestic policies and regional trade
  7. Tunisian Dinar (TND) – Supported by Tunisia’s diversification efforts and stable economic fundamentals
  8. Moroccan Dirham (MAD) – Morocco’s effective economic reforms have helped sustain the Dirham’s stability
  9. Kenyan Shilling (KES) – With a strong agricultural base, Kenya’s currency remains one of the most stable in East Africa
  10. CFA Franc (XOF) – Used in several West African countries, the CFA Franc remains strong due to its peg to the Euro
  11. Ugandan Shilling (UGX) – Uganda’s diversified economy, especially in agriculture and services, has helped its currency remain stable
  12. Ghanaian Cedi (GHS) – Economic stabilization policies and growth in key sectors have supported the Cedi’s improvement
  13. Nigerian Naira (NGN) – Although historically volatile, recent adjustments have strengthened the Naira in the face of economic reforms
  14. Rwandan Franc (RWF) – Rwanda’s strong economic growth has contributed to the Franc’s stability
  15. Algerian Dinar (DZD) – With oil and gas exports driving the economy, Algeria’s currency remains resilient