Africa Must Move Beyond the CFA Franc 

Simèon Ndaye K. | February 2025

As Africa enters a new political era marked by the rise of bold, pan-African leaders, the continued use of the CFA franc stands out as a lingering symbol of colonial influence. In a time when many African nations are seeking true sovereignty and deeper regional integration, phasing out the CFA franc is no longer just an economic debate — it’s a matter of economic freedom and historical justice.

A Colonial Legacy 

Originally created in 1945 under French colonial rule, the CFA franc is still used by 14 African countries in West and Central Africa. Despite decades of independence, these nations remain tethered to the French Treasury, which guarantees the currency’s value in exchange for partial control over monetary reserves and economic policy.

For a continent striving for self-determination, this outdated system clashes with the current wave of leadership pushing for African unity, autonomy, and reform. Leaders like those in Mali and Burkina Faso — and the legacy of visionaries like Thomas Sankara — echo a clear message: Africa must break free from systems that compromise its sovereignty.

Economic Rigidity 

The CFA franc restricts economic flexibility. Its fixed exchange rate with the euro and centralized reserve system limit the ability of African governments to respond to economic shocks, support local industries, or invest in development strategies tailored to their specific needs. As a result, many CFA-zone countries struggle to move beyond extractive economies and remain vulnerable to external pressures.

Moreover, the continued use of multiple, disconnected currencies across Africa — including the CFA — stands in the way of deeper regional integration. This is especially problematic at a time when the African Continental Free Trade Area (AfCFTA) offers unprecedented opportunities for collective economic strength.

Economic Liberation

Africa is the youngest continent in the world. For its young people, the CFA franc represents not just a currency, but a symbol of unbroken chains. Dismantling this system would send a powerful signal that Africa is ready to take control of its future — economically, politically, and culturally. It would also help restore faith in national institutions and inspire a new sense of agency and pride among young Africans.

Leaving the CFA franc behind would mark a turning point in Africa’s post-colonial journey. It is more than just changing currency — it’s about reclaiming autonomy, restoring dignity, and embracing a shared future built on African terms. For the new generation of pan-African leaders, challenging the CFA franc is not just an economic necessity, but a defining moment in Africa’s long struggle for true independence.