Money in Africa

Understanding
the past and present
of a continent

Project leader

Catherine Eagleton, Curator of
Modern Money

Supported by

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Cowries shells were a currency that linked West Africa to India and China for centuries

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Cowries shells were a currency that linked West Africa to India and China for centuries
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Ancient Egyptians weighed metal to facilitate exchange
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Some of Africa's earliest coins circulated between the eastern Swahili coast, the Persian Gulf and China
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Independence brought new national currencies, each revealing a vision of the past and future
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Africa is now known as the frontier of innovative mobile banking

We commonly think of currency as something that came to Africa from outside - coins and banknotes brought by European colonisers. However, the continent has a long monetary history, going back thousands of years.

Africa’s monetary past and present are as diverse as they are neglected. Crossed by trade routes, expanding local states and migrant workers, and linked across oceans to the rest of the world, the regions of Africa have unique, interwoven monetary histories. This project aims to show how rich and complex the story of money in Africa really is.