Business Africa
Ivorian President Alassane Ouattara announced an overhaul of the CFA franc, a currency used by eight states in West and Central Africa, most of them former French colonies.
Supporters of the CFA franc say the link to France provides currency credibility and price stability.
Critics say the arrangement is “post-colonial,” preventing countries from exercising monetary sovereignty and enabling France to wield clout in its former colonies.
Economist Samuel Mathey gives his take on the challenges that may ensue following the adoption of this new currency.
01:27
Ukrainian diplomat calls on Africa to support Kyiv against Moscow
Go to video
Top 10 Guinness World Records held by Africans
01:50
16.5 million displacements recorded across sub-saharan Africa in 2022- report
02:46
Tilapia, the star ingredient at the Lomé culinary event FESMA
01:16
AfCFTA: Effective implementation and reforms to boost growth - IMF report
01:58
9 Senegalese veterans fly back home after France's u-turn on pensions