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.
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Paris Olympics: With the opening ceremony minutes away, get to know the African flag bearers
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Paris Olympics: Fanzone celebrates African cultures and athletes
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UN report says around 733 million people globally faced hunger in 2023
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African Union addresses integration issues at Ghana conference
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Can Diomaye Faye bring Burkina, Mali and Niger back into ECOWAS?
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ECOWAS mandates Faye to discuss with Burkina, Mali and Niger