Economy

CFA FRANC IN UEMOA AND CEMAC REGION: IS FRANCE A NEW COLONIAL TOOL IN AFRICA?

With the exception of Guinea Conakry, all former French colonies of Sub-Saharan Africa still use the CFA franc in West Africa, grouped under the West African Economic and Monetary Union (UEMOA) and the Central African Economic and Monetary Community (CEMAC). Before the Second World War, it consisted primarily of the system established to transfer natural resources to the metropolis - Paris - and subsequently to make French companies advantageous in the continent.