The shortage of foreign exchange leads to higher exchange rates, making it more expensive for businesses to import raw materials. These increased costs are then passed on to consumers through higher prices. Additionally, businesses may have difficulty retrieving their money in foreign currency from the central bank, causing them to suspend operations. This has a negative impact on the economy and can deter foreign investors. Oil-producing countries like Nigeria and Angola, despite selling oil in US dollars, have accumulated large debts and heavily subsidize local fuel and energy prices, which depletes their foreign currency reserves.

Governments in the region are taking measures to address the issue. For example, Nigeria's central bank plans to inject $10 billion worth of foreign exchange into the market to settle foreign exchange debts. They have also lifted bans on certain imported items to reduce demand for foreign currency. Ghana has implemented a "gold for oil" policy, using gold instead of cash to buy oil and save foreign reserves. Egypt has sought barter agreements to reduce reliance on the US dollar. These efforts aim to stabilize local currencies and reduce dependence on foreign currencies.

To support local currencies, African countries need to trade more with each other and buy locally made goods. The implementation of the Continental Free Trade Agreement (AfCFTA) is seen as a way to boost intra-African trade and investment. However, challenges such as weak infrastructure and connectivity hinder trade within the continent. Strengthening productivity and competitiveness, as well as improving infrastructure, are crucial for Africa to match global standards in goods and services.

The impact of weak currencies is evident in businesses like Arinola Omolayo's frozen food store in Lagos. With soaring prices, customers are buying less, and businesses are struggling to make sales. To overcome these challenges, it is important for African countries to prioritize trade within the continent and support local currencies through increased productivity and competitiveness.

Original news source: Weak currencies force up cost of living in Sub-Saharan Africa (BBC)

– News Summary
Instructions: Students will be paired up and given a few minutes to scan the article and note down key points. Each pair will then take turns summarizing the article to the other, focusing on conciseness and accuracy. They should aim to present the summary in under one minute. Peers will give feedback on clarity and completeness.
– Opinion Poll
Instructions: Create a series of statements based on the article's content (e.g., "The weakening of Sub-Saharan African currencies is primarily due to their reliance on imports."). Students will stand on a line in the classroom where one end represents 'strongly agree' and the other 'strongly disagree.' Students will place themselves along the line according to their opinion and then discuss their reasoning in small groups.
– Vocabulary Pictionary
Instructions: Write down key terms from the article (such as "commodities," "foreign exchange," "subsidize," "infrastructure") on slips of paper. Students will take turns drawing the term they pick while their team guesses the word. Set a time limit for each round to keep the game moving quickly.
– Future Predictions
Instructions: After discussing the article, ask students to write down their predictions about the economic situation in Sub-Saharan Africa for the next five years. They should use vocabulary and concepts from the article in their predictions. Once they have written their predictions, they should share with a partner and discuss the likelihood of these future scenarios.
– Article Timeline
Instructions: Students will work in groups to create a timeline using key events and information from the article, such as the increase in the price of frozen chicken, measures taken by governments, and the introduction of the Continental Free Trade Agreement (AfCFTA). This will help them practice sequencing information and using past tenses accurately. Once completed, they can present their timeline to the class.

The cost of living in Sub-Saharan Africa is increasing due to weak currencies in the region. This has resulted in ? prices for food, transportation, and commodities. In Nigeria, for example, the price of frozen chicken has increased by over 26% in the past three months. ? are ? less, and businesses are struggling to sell their goods. The weakening of currencies, such as the Nigerian naira and the Angolan kwanza, is caused by factors such as a ? of foreign exchange and a reliance on imports. The shortage of foreign exchange leads to higher exchange rates, making it more expensive for businesses to import raw materials. These increased costs are then passed on to ? through higher prices. Additionally, businesses may have difficulty retrieving their money in foreign ? from the central bank, ? them to suspend operations. This has a negative ? on the economy and can deter foreign investors. Oil-producing countries like Nigeria and Angola, despite selling oil in US dollars, have accumulated large debts and heavily subsidize local fuel and energy prices, which depletes their foreign currency reserves. Governments in the region are taking measures to address the issue. For example, Nigeria's central bank plans to inject $10 billion worth of foreign exchange into the market to settle foreign exchange debts. They have also lifted bans on certain imported items to reduce demand for foreign currency. ? has implemented a "gold for oil" policy, using gold instead of cash to buy oil and save foreign reserves. ? has sought barter agreements to reduce reliance on the US dollar. These ? aim to stabilize local currencies and reduce dependence on foreign currencies. To support local currencies, African ? need to trade more with each other and buy locally made goods. The implementation of the Continental Free Trade Agreement (AfCFTA) is seen as a way to boost intra-African trade and investment. However, challenges such as weak infrastructure and connectivity ? trade within the continent. Strengthening productivity and ?, as well as improving infrastructure, are crucial for Africa to match global standards in goods and services. The impact of weak currencies is evident in businesses like Arinola Omolayo's frozen food store in ?. With soaring prices, ? are buying less, and businesses are struggling to make sales. To overcome these challenges, it is important for African countries to prioritize trade within the continent and support local currencies through increased productivity and competitiveness.

1. What do you think are the main challenges faced by countries with weak currencies?
2. How would you feel if the currency in your country significantly weakened?
3. Do you think relying on imports is a sustainable economic strategy for a country? Why or why not?
4. Have you or someone you know ever experienced a significant rise in the cost of living? How did it affect your daily life?
5. What is your opinion on the effectiveness of measures like Nigeria's injection of foreign exchange into the market?
6. Do you like the idea of a "gold for oil" policy as implemented by Ghana? Why or why not?
7. How do you think barter agreements can benefit an economy?
8. Do you think the implementation of the Continental Free Trade Agreement (AfCFTA) will help African countries? Why or why not?
9. What is your perspective on the importance of trade between neighboring countries?
10. How would you feel if businesses in your area had to suspend operations due to economic issues?
11. Do you think that African countries should focus more on trading with each other rather than with external partners?
12. How do you think weak infrastructure and connectivity affect a country's ability to trade?
13. What is your opinion on government subsidies for fuel and energy? Are they helpful or harmful in the long run?
14. How do you think countries can improve their productivity and competitiveness in the global market?
15. Do you believe that supporting local businesses and products is crucial for an economy's health? Why or why not?

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