The military government of three neighbouring Sahel nations of Mali, Niger and Burkina Faso are pushing positions to adopt a new common currency in place of “CFA Franc’’.
They believe that they have no longer have fiscal and pplitical ties to France which had since their independence dominated their cash and polity.
Many African countries have been using a money system set up by their former colonial master for decades.
This money in French speaking West Africa is called the “CFA franc”, keeps the West African nations tied down and controlled by France.
But some brave leaders have had enough of this out-dated slavery, African Hub reported in its X handle..
It said: “These revolutionary governments are joining forces to create a new currency system that finally breaks their people free from foreign control.’’
The three leaders have been narrating how CFA franc traps nations in poverty while enriching Europe.
They are also echoing steps being taken to build a new future of true independence, prosperity, and pride for all Africans.
According to Onyeani Kalu, in his X handle, @Onyeani_Kalu: “This Problem could have been solved years back IF Eco Currency was allowed to see the light of day, all the same
We are solidly behind our Francophone Countries to have their our independent currency.’’
In September 2023, Niger along with fellow ECOWAS members Burkina Faso and Mali formed a military alliance called the Association of Sahel States (AES). Four months later, the trio announced their withdrawal from the larger bloc for “illegal, illegitimate, inhumane and irresponsible sanctions” it imposed on them after coups.
This month, reports emerged of a possible parting with their currency, the West African franc (CFA).
Captain Ibrahim Traore, leader of the Burkinabe transitional government, said in an interview in February: “More changes might still surprise you. And it’s not just about currency. We will break all ties that keep us in slavery.”
Abdourahmane Tchiani of Niger, confirmed that a major monetary shake-up could be in the offing.
“Currency is a sign of sovereignty. … The AES member states are engaged in the process of recovering their full sovereignty. It is no longer acceptable for our states to be France’s cash cow,” he said.
