Skip to content

The Launch of the New West African Currency Delayed

We reported early last year on the plan to launch a new currency to replace the CFA franc used by several countries in West Africa. This now may not happen for at least 5 years due to the financial crisis caused by COVID. Nations in the West African bloc have agreed to work towards reducing their budget deficits to below 3% of GDP, a measure of the value of their economies.  Other countries which do not use the CFA franc, like Nigeria and Ghana, are also interested in adopting the new regional currency, but Ghana does not want the eco pegged to the euro, like the CFA franc, and Nigeria wants the former French colonies to break all financial ties with Paris. The creation of a new pan-African currency is also considered to be a positive move towards the AfCFTA – President Ramaphosa floated the idea in 2018. This delay will be a disappointment.

Posted in

Alastair Tempest

7 Comments

  1. This was beautiful Admin. Thank you for your reflections.



  2. Live TV on Feb 3, 2024 at 7:37 am

    There is some nice and utilitarian information on this site.Live TV



  3. tv8 canli yayin on Feb 9, 2024 at 5:41 pm

    It’s nice to see the best quality content from such sites.-smiley fernsehsendung



  4. hey dude shoes for men on Feb 27, 2024 at 9:41 am

    It’s nice to see the best quality content from such sites. – hey dudes men



  5. air jordan shoes air jordan 1mid on Apr 14, 2024 at 5:58 am

    Very nice blog post. definitely love this site.



  6. click for more info on May 7, 2024 at 8:54 am

    I’m taking notes of the information you shared, thank you! check it out



Leave a Comment





Become a member

Join the Ecommerce Forum South Africa and benefit from industry insights in South Africa and Africa.

Sign up to newsletter

Sign up to our newsletter and stay informed of the progress we are making at the Ecommerce Forum South Africa with government during Coronavirus.