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8 West African Nations Sever Colonial Era Financial Ties To France
Eight African countries are severing colonial-era financial ties to France by backing out of the French-backed CFA franc monetary zone on the continent.
The move was announced at a press conference in Abidjan, Ivory Coast on Saturday. It involves all eight of the countries in West Africa who will now refer to their common currency as the Eco.
The Ivorian president, Alassane Ouattara, described the occasion as a “historic day for West Africa”. France’s president, Emmanuel Macron and the country’s finance minister, Bruno Le Maire, were also in Abidjan.
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