Communauté Financière Africaine franc

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Communauté Financière Africaine franc

African currency

Also known as: African Financial Community franc, CFA franc

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June 24, 2026

Quick Summary

The CFA franc is a currency used in several African countries. It stands for Communauté Financière Africaine (African Financial Community) franc. The CFA franc is the national currency unit for countries like Mali and C\u00f4te d'Ivoire.12

Historically, the CFA franc was pegged to the French franc and, since 2002, is tied to the euro. The Central Bank of the States of West Africa (BCEAO) is the issuing bank for member states, including C\u00f4te d'Ivoire, Benin, Burkina Faso, Guinea-Bissau, Mali, Niger, Senegal, and Togo. A devaluation of the CFA franc in the mid-1990s helped C\u00f4te d'Ivoire's economic recovery by making its exports more competitive.1

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Burkina Faso
Finance
Burkina Faso’s currency is the CFA (Communauté Financière Africaine) franc, which has been officially pegged to the euro. It is issued by the Central Bank of West African States, an agency of the West African Economic and Monetary Union, which consists of eight countries (Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau,…
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Burkina Faso’s currency is the CFA (Communauté Financière Africaine) franc, which has been officially pegged to the euro. It is issued by the Central Bank of West African States, an agency of the West African Economic and Monetary Union, which consists of eight countries (Benin, Burkina Faso, Côte d’Ivoire, Guinea-Bissau,…
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Cameroon
Finance
…with a common currency, the CFA franc, which was pegged to the euro in 2002.
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…with a common currency, the CFA franc, which was pegged to the euro in 2002.
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Central African Republic
Finance and trade
…de l’Afrique Centrale, issues the CFA franc. There are several commercial banks that are partially French-owned.
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…de l’Afrique Centrale, issues the CFA franc. There are several commercial banks that are partially French-owned.
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Republic of the Congo
Finance and trade
…in Cameroon and issues the CFA franc, the currency used in CEMAC countries.
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…in Cameroon and issues the CFA franc, the currency used in CEMAC countries.
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Côte d’Ivoire
Finance
…unit is the CFA (Communauté Financière Africaine) franc. From independence the CFA was pegged to the French franc; beginning in 2002, it was tied to the euro. The Central Bank of the States of West Africa (Banque Centrale des États de l’Afrique de l’Ouest) is the bank of issue…
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…unit is the CFA (Communauté Financière Africaine) franc. From independence the CFA was pegged to the French franc; beginning in 2002, it was tied to the euro. The Central Bank of the States of West Africa (Banque Centrale des États de l’Afrique de l’Ouest) is the bank of issue…
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Guinea-Bissau
Finance and trade
…replaced by the CFA (Communauté Financière Africaine) franc after the two currencies coexisted for several months. The role of the central bank was taken over by the Central Bank of West African States, which is based in Dakar, Senegal. Participation in the banking system among Guineans is very low,…
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…replaced by the CFA (Communauté Financière Africaine) franc after the two currencies coexisted for several months. The role of the central bank was taken over by the Central Bank of West African States, which is based in Dakar, Senegal. Participation in the banking system among Guineans is very low,…
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Mali
Finance and trade
…by the member countries, the CFA (Communauté Financière Africaine) franc, officially pegged to the euro since 2002. Mali has several commercial banks, development banks, and other financial institutions. Several French insurance companies maintain offices in Bamako. A regional stock exchange based in Abidjan, Côte d’Ivoire, and serving Mali has a…
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…by the member countries, the CFA (Communauté Financière Africaine) franc, officially pegged to the euro since 2002. Mali has several commercial banks, development banks, and other financial institutions. Several French insurance companies maintain offices in Bamako. A regional stock exchange based in Abidjan, Côte d’Ivoire, and serving Mali has a…
Read More