The East African Community is an intergovernmental organization composed of six countries in the African Great Lakes region in Eastern Africa: Burundi, Kenya, Rwanda, South Sudan, Tanzania, and Uganda. President Paul Kagame of Rwanda, is the EAC’s Chairman. President Paul Kagame displayed an outstanding leadership role in launching the world’s largest Free Trade Area. The African Continental Free Trade (AfCFTA), which will be the world’s largest free trade area (with 44 African countries) once it is fully up and running.
Africa has the world’s greatest opportunities to create new and larger Fortune 500 companies outside the USA such as Exxon Mobile, Apple, CVS health and others. The world has not seen a problem taking intellectual properties from people of African descent for the past 500 years. Many African countries may need to create new laws to protect inventions, patents, new creations. Thus, many great new ideas and inventions are taken or stolen with no counter actions.
The 44 African countries’ Continental Free Trade (AfCFTA) will need one currency backed by gold that will not require correspondence from and between banks overseas, who often take over trading, banking and commodities transactions causing all African countries to lose money or money to be stolen. Thus, The Bullion Bank of Africa (BBA) with its clearing house is a great solution for the more than 40 African currencies and the unneeded European, USA, Asian or Middle Eastern banking systems to facilitate African international banking transactions.
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