Africa is the world’s second largest and most populous continent in the world. Though Africa is wealthy in natural resources and is one of the most biologically diverse continents, Africa still remains the least wealthy continent per capita. The continent largely suffers from the effects of the slave trade and European colonization. However, due to recent economic expansions and the large youth population, Africa’s economy is rapidly growing in wealth and remains an important market in the global context.
As a result, many banknotes in the region have large denominations. For instance, Zimbabwe produced the highest denomination in circulation—the 100 trillion dollar banknote. Other countries have revaluated their currencies to prevent these large denominations, while others have abandoned their own currencies to use other currencies, namely the US dollar and the euro.