Theorising the liberation of African countries from the CFA Franc | The New Times


Many countries across Africa were celebrating their Independence Day recently, including Rwanda, which makes us look back on how far we have come and the still present colonial forces that shape the nations on the African continent. 

This brings us to the debate about the CFA Franc – originally the Franc des colonies françaises d’Afrique, CFA Franc is an instrument of monetary and financial domination formally set up for France’s African colonies on December 26, 1945 by Charles de Gaulle.

Shakila  Kamatali

Today, it operates as a political tool to control African economies and also as a device for transferring, with minimal risk, economic surpluses from the African continent to France and Europe. 

The currency is managed by two regional bodies, the West African Economic and Monetary…

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