The Central African Republic (CAR) recently added Bitcoin as a legal currency, tokenized natural resources, and even created a “cryptocurrency economic zone” called Sango—following in the footsteps of El Salvador. The CAR is still using its French currency (CFA franc) just like El Salvador is still using the American dollar. In addition to the crypto economic zones, CAR is also offering e-residency and citizenship by investment programs (with zero-rate tax on income and businesses) that are all being implemented to “attract investors” — the El Salvador game plan . . .
CFA
Dis Naija na banana republic
“Dis Naija na banana republic”, is what the cab driver said to me during our trip. While the banana industry may not be the main benefactor of widespread and deepening corruption in Nigeria (it’s the oil), there is a general lack of class analysis and revolutionary consciousness owing mostly to decades-long imperialist propaganda and baked-in capitalist ideals across much of Nigerian society. The driver, a worker like myself, can point out these stark problems through generalizations e.g., ‘dis politicians dey benefit from how tings don spoil’, or can bring up specifics related to long fuel queues or poor power supply. . . .