CFA franc (French: franc CFA, [fʁɑ̃ seɛfɑ]) is the name of two currencies used by 210 million people (as of 2023) in fourteen African countries: the West African CFA franc (where "CFA" stands for Communauté Financière Africaine, i.e. "African Financial Community" in English), used in eight West African countries, and the Central African ...

Sep 20, 2022 · The CFA franc, backed by the French treasury and pegged to the euro, refers to both the Central African CFA franc (XAF) and the West African CFA franc (XOF), and is accepted in 14 member...

The CFA franc is the common currency of the 14 African countries belonging to the Franc Zone. The states include : Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo, which make up the West African Economic and Monetary Union (WAEMU), whose central bank is the BCEAO ;

The CFA franc monetary system is designed to guarantee the franc currency in international markets, while simultaneously preventing overdraft and inflation in CFA member countries.

Jul 12, 2017 · For those hoping to export competitive products, obtain affordable credit, work for the integration of continental trade, or fight for an Africa free from imperialist control, the CFA franc is an anachronism demanding orderly and methodical elimination.

Usage of: West African CFA franc Central African CFA franc The Central African CFA franc (French: franc CFA or simply franc; ISO code: XAF; abbreviation: F.CFA) is the currency of six independent states in Central Africa: Cameroon, Central African Republic, Chad, Republic of the Congo, Equatorial Guinea and Gabon.These six countries had a combined population of 55.2 …

Feb 10, 2025 · The CFA franc (Franc des Colonies Francais d’Afrique) was introduced in 1945, well before France’s decolonization in the late 1950s, as a way for France to control the economies of its African colonies.

Mar 29, 2024 · The CFA franc, backed by the French treasury and pegged to the euro, refers to both the Central African CFA franc (XAF) and the West African CFA franc (XOF), and is accepted in 14 member countries. This comprehensive guide dives into the history, usage, and economic impact of the CFA franc.

The West African CFA franc is the currency of eight countries in West Africa: Benin, Burkina Faso, Guinea-Bissau, Ivory Coast, Mali, Niger, Sénégal and Togo. CFA means Communauté Financière d'Afrique ("Financial Community of Africa") or Communauté Financière Africaine ("African Financial Community").