Posts From Keanu Been

Back to homepage
Africa Economics

End of the CFA franc: A possible turning point in Francafrique?

The CFA franc has long been cited as the representation of France’s economic “grip” on Africa and forms a central pillar of Françafrique – France’s relationship with its former African colonies. However, in an effort to move away from the controversial aspects of the region’s common currency, France and the CFA countries have initiated a number of reforms – with the former also pushing for the adoption of the “Eco” by the West African Economic and Monetary Union (UEMOA). This move would help remove the most visible elements of French influence; however, it is unlikely to assuage the allegations of French neo-colonialism that hamper Paris’ foreign policy objectives.