Ghana
New ECO Currency To End CFA Franc In Africa- Mahamadou Issoufou
According to the President, the adoption of a unique currency by the 15 member states of ECOWAS will be the end of CFA Franc in 2020. He however remarked that the CFA Franc, which has colonial underpinnings, is still being used by 8 Francophone countries under UEMOA, the Francophone bloc for monetary affairs.
ECO, the new currency to be introduced by ECOWAS will not be anything like the CFA Franc.
The president of ECOWAS and Niger, Mahamadou Issoufou, disclosed this in an interview sighted by AfricaCelebrities.com.
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According to the President, the adoption of a unique currency by the 15 member states of ECOWAS will be the end of CFA Franc in 2020. He however remarked that the CFA Franc, which has colonial underpinnings, is still being used by 8 Francophone countries under UEMOA, the Francophone bloc for monetary affairs.
He further added that this monetary reforms in the sub region is aimed at the development of West Africa, job creations, increased investment opportunities among other things.
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Mr. Issoufou concluded by indicating that all the 15 member states of ECOWAS, comprising of the Francophones and Anglophones unanimously agreed to adopt ECO.
Source: AfricaCelebrities.com
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