Friday, May 14, 2021
31 C
Abuja
Friday, May 14, 2021

Is France breaking with its colonial past in Africa?

Must read

NGX Group to launch “The Stock Africa Is Made Of” campaign

Nigerian Exchange Group (NGX Group) Plc is set to launch a campaign to project its new positioning and commitment to the African financial markets...

Eight West African countries will soon be using a new currency.

The old one may not have been well known, but for 75 years the CFA, as it is referred to in French, has been used as money from Senegal to Niger and most places in between.

But now, the French government has officially approved the end of the CFA franc.

That means France will cease to co-manage the West African currency. The Bank of France will no longer hold half of the currency’s reserves, and a replacement currency, the ECO, will be introduced.

But it will keep its exchange rate fixed to the euro.

France negotiated with its former colonies for three years before reaching the deal last year.

But is this genuine change or just a rebrand?

Presenter: Kamahl Santamaria

Guests

Ken Ife – Macroeconomic policy analyst and consultant to the ECOWAS Commission

Marie-Roger Biloa – West Africa analyst and chief executive director of the Africa International Media Group

Tony Chafer – Professor of African and French Studies at the University of Portsmouth

Source: Al Jazeera News

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest article

NGX Group to launch “The Stock Africa Is Made Of” campaign

Nigerian Exchange Group (NGX Group) Plc is set to launch a campaign to project its new positioning and commitment to the African financial markets...

Africa’s COVID

A health worker takes a swab from a woman during a community COVID-19 coronavirus testing campaign in Abuja on April 15, 2020. PHOTO: Kola...