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OPINION: Why Africa Should Embrace the Yuan as a Reserve Currency


Kenyan economist and commentator Benard Aiyeko laid out his case as to why African central banks should add the Chinese yuan to their basket of reserve currencies. Today, only a few African countries including Angola, Zimbabwe and Nigeria settle some of their payments in yuan and hold the currency in reserve. But Aiyeko wrote this week in Business Daily that the time has come for more countries to follow suit.

Here are three of his key points:

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