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1 USD ≈ 25.31 ZMW • Source: XE
That is not 1-to-1.
Currencies have different values to other currencies.
Do note that 3rd party sites are at your own risk and you are not guaranteed to end up with a working key, additionally, often the keys are illegally obtained and may be revoked from any account that has redeemed it.
There's also this;
1 ZAR ≈ 1.38 ZMW • Source: XE
People can read just fine, but you're also talking about purchasing in usd, and using specific local currency that has to either be exchanged or otherwise converted tends to cause different prices. Then, there's any applicable regional price choice.
1.00R From ZAR – South African Rand To NAD – Namibian Dollar
1.00 South African Rand = 1.00 Namibian Dollar
1 NAD = 1.00000 ZAR
That is also XE. Fancy he? The Exchange is the same as ZA and thus we only want the same pricing.
Steam already has an implementation, so they've arguably already decided. Valve has not been moved to copy Epic's regional pricing scheme when some users feel it's convenient. And realistically there's no issue, if a game is cheaper on Epic, then get it on Epic. Valve may not be too worried over lower value regions and isn't motivated to try and prevent consumers from shopping anywhere else but Steam.
Steam is a store, Valve doesn't have a problem with there being other stores that are preferable to some users.
The Rand has a floating exchange rate while all the other members of the common monetary area's local currencies are fixed and pegged at parity with the Rand. The currency you chose, is not a member of said union, so ya, that's why there's a difference in the exchange rate. If you actually look at the Losotho loti, Namibian dollar and Swazi lilangeni you'll find they will trade at the exact same rate as the Rand in the same moment of time.
Currency pegs are quite common, albeit not usually at parity. An example of this is Saudi Arabia which is pegged with USD. 3.75 Riyal is always 1 USD. Doesn't matter what day you look at or what time. So 3.75 Riyal converted to CAD will be the same as 1 USD converted to CAD etc. That's how fixed exchange rates work.
So any regions currency eventually gets converted into USD before being sent out to the game devs in the currencies they want.
Your regions currency has a weaker spending power than the USD.
Ok, what percentage of that is PC games? Somewhere south of 100%, and somewhere south of 90%, way south. I'm gonna wager 3 billion is split between consoles and mobile devices. And 900 million split between publishers and other stores. But let's say Valve makes up 50% of PC sales. So 450 million, and Valve's percentage is between 20-30% depending on how well a game has done. So $135 million at 30%. Not you subtract all the costs for operating in Africa, taxes and whatnot. And we're probably less than $70 million. I mean it's a chunk of change for you or me, but it's not going to change much at Valve.
Oh and let's not forget that gamers on the entire continent of Africa don't act in unison either. So while you may imagine mass exoduses and whatnot, let's just say half stop using Steam. Well, Valve is still making millions just in Africa. But maybe it's not going to hurt so much as you imagine...
My math may not be terribly accurate, but it's closer than implying Valve generates anything close to 3.9 Billion USD in revenue from Africa.
Yes I got that and I'm not suggesting you should pay USD at all, but rather the opposite. My point was there is already an example for this with countries in the EU using Euro instead of a countries local currency. So these African countries as a monetary union as well, should all be using Rand since it's the official currency of said union. It doesn't make sense that outside of South Africa, every country in said union is paying in USD.
I was just pointing out that the arguments saying why they 'should' use USD are ignoring the union aspect and focusing on things that are either not true (only exchanged on a one-to one basis locally), misunderstanding how fixed exchange rates work, or irrelevant (purchase power). Hope that clears up the misunderstanding.