Decolonization and the legacy of currency: the case of France’s former colonies

Suares Clovis Oukouomi Noutchie

doi:10.36096/ijbes.v7i4.860

Authors

Suares Clovis Oukouomi Noutchie North-West University

DOI:

https://doi.org/10.36096/ijbes.v7i4.860

Keywords:

Decolonization, CFA Franc, Monetary Sovereignty, Economic Dependency, Regional Integration, Neocolonialism, Eco Currency, African Economic Development

Abstract

This article critically examines the legacy of the CFA franc system, a colonial-era monetary arrangement that continues to shape the economic landscape of 14 countries in West and Central Africa. Framed within the discourse of decolonization and economic sovereignty, the paper explores the historical origins, institutional design, and enduring consequences of the CFA franc. While the currency system provides nominal stability, it restricts fiscal and monetary autonomy, reinforces dependency on France, and inhibits regional integration and industrial development. Drawing on theoretical and empirical literature, policy reports, and civil society commentary, the paper evaluates the political economy of monetary reform, including the proposed Eco currency. It emphasizes the need for structural transformation, regional cooperation, and democratic governance in reimagining African monetary futures. The analysis concludes by emphasizing that genuine economic liberation requires dismantling financial instruments rooted in colonial logic and replacing them with systems that reflect African priorities, agency, and development goals

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