This paper examines the trade effects of monetary integration dynamics in Africa through the concept of velocity. The data used are extracted from the World Bank and the CEPII gravity databases, covering the period 1995-2021. We use a gravity model estimated by the Poisson Pseudo Maximum Likelihood with High Dimensional Fixed Effects (PPMLHDFE) technique. The results obtained are analyzed at the regional and sub-regional levels, considering the main Regional Economic Communities (RECs) of the African Union. At the regional level, the simulation of a monetary union slowly but steadily stimulates trade. However, this effect diverges at the sub-regional level, highlighting the importance of the scale of monetary integration and the heterogeneities between RECs. To achieve the full potential of monetary integration on trade in Africa, we recommend promoting economic diversification and establishing a system to monitor the influence of currency on trade.
